Koshinski Asset Management Inc. Decreases Stake in MSC Industrial Direct Company, Inc. $MSM

Koshinski Asset Management Inc. lowered its position in MSC Industrial Direct Company, Inc. (NYSE:MSM) by 27.7% in the second quarter, Holdings Channel reports. The fund owned 3,142 shares of the industrial products company’s stock after selling 1,204 shares during the period. Koshinski Asset Management Inc.’s holdings in MSC Industrial Direct were worth $267,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Clearstead Trust LLC purchased a new position in MSC Industrial Direct in the first quarter worth approximately $25,000. Investment Management Corp VA ADV lifted its position in shares of MSC Industrial Direct by 207.8% during the 1st quarter. Investment Management Corp VA ADV now owns 397 shares of the industrial products company’s stock worth $31,000 after buying an additional 268 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in shares of MSC Industrial Direct during the 1st quarter worth approximately $32,000. Farther Finance Advisors LLC lifted its position in shares of MSC Industrial Direct by 895.0% during the 1st quarter. Farther Finance Advisors LLC now owns 597 shares of the industrial products company’s stock worth $46,000 after buying an additional 537 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of MSC Industrial Direct by 47.1% during the 1st quarter. GAMMA Investing LLC now owns 681 shares of the industrial products company’s stock worth $53,000 after buying an additional 218 shares during the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Zacks Research downgraded shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 5th. Weiss Ratings restated a “hold (c+)” rating on shares of MSC Industrial Direct in a research report on Wednesday, October 8th. Wolfe Research downgraded shares of MSC Industrial Direct from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 8th. Robert W. Baird boosted their price objective on shares of MSC Industrial Direct from $84.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 2nd. Finally, Stephens boosted their price objective on shares of MSC Industrial Direct from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, MSC Industrial Direct presently has an average rating of “Hold” and a consensus target price of $91.00.

MSC Industrial Direct Stock Performance

Shares of MSC Industrial Direct stock opened at $88.10 on Wednesday. The firm’s fifty day simple moving average is $89.84 and its 200-day simple moving average is $84.66. The stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of 24.89 and a beta of 0.95. MSC Industrial Direct Company, Inc. has a 12 month low of $68.10 and a 12 month high of $94.31. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.92 and a quick ratio of 0.91.

MSC Industrial Direct Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th will be issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Wednesday, November 12th. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.85. MSC Industrial Direct’s dividend payout ratio is presently 98.31%.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products and services in the United States, Canada, Mexico, the United Kingdom, and internationally. The company's MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock products, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components, and electrical supplies.