Charles Schwab Investment Management Inc. Acquires 88,247 Shares of MSC Industrial Direct Company, Inc. (NYSE:MSM)

Charles Schwab Investment Management Inc. increased its holdings in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 5.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,781,503 shares of the industrial products company's stock after acquiring an additional 88,247 shares during the quarter. Charles Schwab Investment Management Inc. owned about 3.20% of MSC Industrial Direct worth $138,369,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MSM. New Age Alpha Advisors LLC lifted its position in shares of MSC Industrial Direct by 31.0% during the 1st quarter. New Age Alpha Advisors LLC now owns 40,320 shares of the industrial products company's stock valued at $3,132,000 after acquiring an additional 9,539 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in shares of MSC Industrial Direct during the 1st quarter worth $258,000. Clearstead Trust LLC acquired a new position in MSC Industrial Direct in the 1st quarter worth about $25,000. Raiffeisen Bank International AG increased its holdings in MSC Industrial Direct by 37.3% in the 1st quarter. Raiffeisen Bank International AG now owns 14,214 shares of the industrial products company's stock worth $1,104,000 after purchasing an additional 3,864 shares in the last quarter. Finally, IFG Advisory LLC acquired a new position in MSC Industrial Direct in the 1st quarter worth about $1,119,000. 79.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at MSC Industrial Direct

In other news, SVP Kimberly Shacklett sold 2,130 shares of the firm's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $92.00, for a total value of $195,960.00. Following the transaction, the senior vice president owned 14,657 shares in the company, valued at $1,348,444. This trade represents a 12.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 18.30% of the stock is owned by corporate insiders.

MSC Industrial Direct Stock Down 0.4%

NYSE:MSM traded down $0.32 on Friday, hitting $87.26. The stock had a trading volume of 58,697 shares, compared to its average volume of 599,999. The business's fifty day moving average is $85.98 and its 200 day moving average is $81.15. The company has a market cap of $4.86 billion, a PE ratio of 24.66 and a beta of 0.92. The company has a quick ratio of 0.91, a current ratio of 1.92 and a debt-to-equity ratio of 0.21. MSC Industrial Direct Company, Inc. has a 52 week low of $68.10 and a 52 week high of $92.68.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 1st. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.05. The business had revenue of $971.15 million for the quarter, compared to analyst estimates of $969.72 million. MSC Industrial Direct had a return on equity of 14.99% and a net margin of 5.30%. The company's quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.33 earnings per share. On average, equities research analysts expect that MSC Industrial Direct Company, Inc. will post 3.57 EPS for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Wednesday, July 9th. MSC Industrial Direct's dividend payout ratio (DPR) is currently 96.05%.

Analysts Set New Price Targets

A number of brokerages have issued reports on MSM. Industrial Alliance Securities set a $89.00 price target on MSC Industrial Direct in a research note on Tuesday, May 27th. Loop Capital increased their price target on MSC Industrial Direct from $74.00 to $84.00 and gave the company a "hold" rating in a research note on Wednesday, July 2nd. Stephens increased their price target on MSC Industrial Direct from $85.00 to $90.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 2nd. Robert W. Baird increased their price target on MSC Industrial Direct from $84.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. upgraded MSC Industrial Direct from a "neutral" rating to an "overweight" rating and upped their target price for the company from $73.00 to $89.00 in a research report on Tuesday, May 27th. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, MSC Industrial Direct currently has an average rating of "Moderate Buy" and an average target price of $90.33.

MSC Industrial Direct Company Profile

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.