MSC Industrial Direct Company, Inc. $MSM Shares Bought by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management increased its MSC Industrial Direct position by 16.1% in the second quarter, bringing its holdings to 57,721 shares valued at approximately $6.9 million. Institutional investors and hedge funds collectively own 79.26% of MSM.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $123.43; individual targets range as high as $155.
• MSC Industrial Direct exceeded quarterly expectations, reporting adjusted EPS of $1.43 versus the $1.28 consensus and revenue of $1.05 billion, up 7.8% year over year.

Envestnet Asset Management Inc. raised its position in MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) by 16.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,721 shares of the industrial products company's stock after purchasing an additional 8,002 shares during the quarter. Envestnet Asset Management Inc. owned 0.10% of MSC Industrial Direct worth $6,866,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of MSM. Auto Owners Insurance Co lifted its holdings in shares of MSC Industrial Direct by 12,181.8% during the 4th quarter. Auto Owners Insurance Co now owns 3,254,670 shares of the industrial products company's stock valued at $273,718,000 after acquiring an additional 3,228,170 shares in the last quarter. State Street Corp raised its position in MSC Industrial Direct by 3.7% in the second quarter. State Street Corp now owns 1,463,620 shares of the industrial products company's stock valued at $174,098,000 after purchasing an additional 52,860 shares during the period. First Trust Advisors LP grew its stake in shares of MSC Industrial Direct by 20.9% in the first quarter. First Trust Advisors LP now owns 1,773,133 shares of the industrial products company's stock valued at $163,607,000 after buying an additional 306,436 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of MSC Industrial Direct by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,357,419 shares of the industrial products company's stock valued at $125,240,000 after buying an additional 14,484 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of MSC Industrial Direct by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 1,055,261 shares of the industrial products company's stock valued at $88,761,000 after buying an additional 22,602 shares during the period. 79.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MSM shares. DA Davidson upped their price target on MSC Industrial Direct from $145.00 to $150.00 and gave the stock a "buy" rating in a report on Thursday, July 2nd. Zacks Research lowered shares of MSC Industrial Direct from a "strong-buy" rating to a "hold" rating in a report on Monday, August 31st. Wolfe Research initiated coverage on MSC Industrial Direct in a research report on Tuesday, September 15th. They set a "peer perform" rating on the stock. KeyCorp boosted their target price on shares of MSC Industrial Direct from $132.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 1st. Finally, Rothschild & Co Redburn initiated coverage on shares of MSC Industrial Direct in a research report on Monday, July 13th. They set a "buy" rating and a $155.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $123.43.

MSC Industrial Direct Price Performance

Shares of MSM opened at $130.01 on Friday. The stock's fifty day moving average is $121.80 and its 200-day moving average is $112.47. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.72 and a current ratio of 1.55. The firm has a market capitalization of $7.26 billion, a price-to-earnings ratio of 31.40 and a beta of 0.82. MSC Industrial Direct Company, Inc. has a one year low of $78.80 and a one year high of $132.33.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 1st. The industrial products company reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $1.28 by $0.15. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. MSC Industrial Direct had a net margin of 5.91% and a return on equity of 17.34%. The business's revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the business earned $1.08 earnings per share. Equities analysts anticipate that MSC Industrial Direct Company, Inc. will post 4.51 EPS for the current year.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc is a distributor of metalworking and industrial products serving manufacturers and other organizations across North America. The company provides products used in maintenance, repair and operations, including cutting tools, abrasives, tooling components, fasteners, safety equipment, material handling supplies, and janitorial and facility-maintenance products.

MSC serves customers through an omnichannel platform that includes e-commerce, sales representatives, customer service teams, catalogs, and branch locations.

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