Allianz Asset Management GmbH Purchases 63,347 Shares of MSC Industrial Direct Company, Inc. $MSM

Allianz Asset Management GmbH increased its stake in MSC Industrial Direct Company, Inc. (NYSE:MSM) by 267.1% in the 2nd quarter, Holdings Channel reports. The firm owned 87,060 shares of the industrial products company’s stock after purchasing an additional 63,347 shares during the period. Allianz Asset Management GmbH’s holdings in MSC Industrial Direct were worth $7,402,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MSM. Victory Capital Management Inc. lifted its holdings in MSC Industrial Direct by 445.4% in the 1st quarter. Victory Capital Management Inc. now owns 779,800 shares of the industrial products company’s stock worth $60,567,000 after purchasing an additional 636,827 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in MSC Industrial Direct by 6,108.1% in the 1st quarter. Mackenzie Financial Corp now owns 505,960 shares of the industrial products company’s stock worth $39,298,000 after purchasing an additional 497,810 shares during the last quarter. Boston Partners lifted its holdings in MSC Industrial Direct by 22.9% in the 1st quarter. Boston Partners now owns 1,762,248 shares of the industrial products company’s stock worth $136,867,000 after purchasing an additional 327,833 shares during the last quarter. American Century Companies Inc. lifted its holdings in MSC Industrial Direct by 6.8% in the 1st quarter. American Century Companies Inc. now owns 3,650,221 shares of the industrial products company’s stock worth $283,513,000 after purchasing an additional 231,961 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new stake in MSC Industrial Direct in the 1st quarter worth approximately $17,187,000. 79.26% of the stock is currently owned by institutional investors and hedge funds.

MSC Industrial Direct Stock Performance

Shares of NYSE MSM opened at $87.35 on Thursday. The business has a fifty day simple moving average of $89.81 and a 200 day simple moving average of $84.68. The company has a current ratio of 1.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of 24.68 and a beta of 0.95. MSC Industrial Direct Company, Inc. has a one year low of $68.10 and a one year high of $94.31.

MSC Industrial Direct Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th will be paid a $0.87 dividend. The ex-dividend date is Wednesday, November 12th. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.85. This represents a $3.48 dividend on an annualized basis and a dividend yield of 4.0%. MSC Industrial Direct’s dividend payout ratio is currently 96.05%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Zacks Research lowered MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a report on Friday, September 5th. Robert W. Baird upped their price target on MSC Industrial Direct from $84.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, July 2nd. JPMorgan Chase & Co. upped their price target on MSC Industrial Direct from $89.00 to $93.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Weiss Ratings reiterated a “hold (c+)” rating on shares of MSC Industrial Direct in a report on Wednesday, October 8th. Finally, Wolfe Research lowered MSC Industrial Direct from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $91.00.

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.