Top 5 Dividend Stock Picks of Chuck Royce’s Royce & Associates

4. MSC Industrial Direct Co., Inc. (NYSE:MSM)

Number of Hedge Fund Holders: 26
Dividend Yield as of March 2: 3.94%
Royce & Associates’ Stake Value: $56,263,000

MSC Industrial Direct Co., Inc. (NYSE:MSM) is an American industrial supplies company. At the end of Q4 2021, Royce & Associates held a stake worth over $56.2 million in the company, after slashing its position by 10%. The holding accounted for 0.42% of the value of Chuck Royce’s portfolio.

MSC Industrial Direct Co., Inc. (NYSE:MSM) has been growing its dividend consistently for the past 18 years and also makes occasional special dividend payments to shareholders. Currently, the company pays a quarterly dividend of $0.75 per share, which yields 3.94%, as of March 2. In December, Baird raised its price target on MSC Industrial Direct Co., Inc. (NYSE:MSM) to $103, with an ‘Outperform’ rating on the shares, praising the company for its consistent performance over the years.

With a stake valued at roughly $105 million, Yacktman Asset Management held the largest position in MSC Industrial Direct Co., Inc. (NYSE:MSM) in Q4 out of the 26 hedge funds tracked by Insider Monkey that were long MSM on December 31, up from 25 in the previous quarter. Those 26 stakes held a value of $424.4 million.