Envestnet Asset Management Inc. Raises Position in MSC Industrial Direct Company, Inc. (NYSE:MSM)

Envestnet Asset Management Inc. boosted its holdings in MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 23.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 113,309 shares of the industrial products company's stock after purchasing an additional 21,752 shares during the period. Envestnet Asset Management Inc. owned about 0.20% of MSC Industrial Direct worth $8,801,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in MSM. First Trust Advisors LP boosted its holdings in MSC Industrial Direct by 29.2% in the 4th quarter. First Trust Advisors LP now owns 1,987,455 shares of the industrial products company's stock worth $148,443,000 after buying an additional 448,708 shares during the period. Invesco Ltd. boosted its stake in MSC Industrial Direct by 127.5% in the fourth quarter. Invesco Ltd. now owns 1,206,811 shares of the industrial products company's stock worth $90,137,000 after buying an additional 676,238 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of MSC Industrial Direct by 10.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,079,474 shares of the industrial products company's stock valued at $80,621,000 after purchasing an additional 102,660 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of MSC Industrial Direct by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 1,077,450 shares of the industrial products company's stock worth $80,493,000 after buying an additional 20,974 shares during the period. Finally, Deprince Race & Zollo Inc. bought a new stake in MSC Industrial Direct in the fourth quarter valued at approximately $35,576,000. Institutional investors own 79.26% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wolfe Research raised shares of MSC Industrial Direct to a "strong-buy" rating in a research report on Sunday, April 6th. Loop Capital lifted their price target on MSC Industrial Direct from $74.00 to $84.00 and gave the stock a "hold" rating in a research report on Wednesday, July 2nd. Stephens increased their target price 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. Industrial Alliance Securities set a $89.00 target price on MSC Industrial Direct in a report on Tuesday, May 27th. Finally, JPMorgan Chase & Co. raised MSC Industrial Direct from a "neutral" rating to an "overweight" rating and upped their price target for the company from $73.00 to $89.00 in a report on Tuesday, May 27th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $90.33.

Insiders Place Their Bets

In other MSC Industrial Direct news, SVP Kimberly Shacklett sold 2,130 shares of the stock in a transaction 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 completion of the sale, the senior vice president owned 14,657 shares in the company, valued at approximately $1,348,444. This represents a 12.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 18.30% of the stock is owned by corporate insiders.

MSC Industrial Direct Stock Performance

Shares of MSM stock traded down $0.36 on Thursday, reaching $87.25. The stock had a trading volume of 127,502 shares, compared to its average volume of 622,054. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 1.92. MSC Industrial Direct Company, Inc. has a 1 year low of $68.10 and a 1 year high of $92.68. The stock has a market cap of $4.86 billion, a P/E ratio of 24.65 and a beta of 0.87. The company has a 50 day simple moving average of $83.95 and a 200 day simple moving average of $80.58.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last announced its 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. MSC Industrial Direct had a return on equity of 14.99% and a net margin of 5.30%. The business had revenue of $971.15 million for the quarter, compared to analysts' expectations of $969.72 million. During the same period last year, the firm posted $1.33 earnings per share. The business's revenue for the quarter was down .8% on a year-over-year basis. Equities research analysts expect that MSC Industrial Direct Company, Inc. will post 3.57 EPS for the current year.

MSC Industrial Direct Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th were paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.90%. The ex-dividend date was Wednesday, July 9th. MSC Industrial Direct's dividend payout ratio (DPR) is currently 96.05%.

MSC Industrial Direct 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.