11,545 Shares in MSC Industrial Direct Company, Inc. (NYSE:MSM) Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC purchased a new position in MSC Industrial Direct Company, Inc. (NYSE:MSM - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,545 shares of the industrial products company's stock, valued at approximately $897,000.

A number of other hedge funds have also modified their holdings of the company. American Century Companies Inc. grew its holdings in MSC Industrial Direct by 6.0% during the 4th quarter. American Century Companies Inc. now owns 3,418,260 shares of the industrial products company's stock valued at $255,310,000 after buying an additional 193,860 shares in the last quarter. First Trust Advisors LP boosted its position in shares of MSC Industrial Direct by 29.2% during the fourth quarter. First Trust Advisors LP now owns 1,987,455 shares of the industrial products company's stock worth $148,443,000 after acquiring an additional 448,708 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in MSC Industrial Direct by 8.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,693,256 shares of the industrial products company's stock valued at $126,469,000 after acquiring an additional 126,218 shares in the last quarter. Boston Partners increased its holdings in MSC Industrial Direct by 7.2% in the 4th quarter. Boston Partners now owns 1,434,415 shares of the industrial products company's stock valued at $107,168,000 after acquiring an additional 96,335 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in MSC Industrial Direct by 127.5% in the 4th quarter. Invesco Ltd. now owns 1,206,811 shares of the industrial products company's stock worth $90,137,000 after purchasing an additional 676,238 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Stephens raised their price objective on MSC Industrial Direct from $85.00 to $90.00 and gave the company an "equal weight" rating in a research report on Wednesday. Loop Capital lifted their price objective on MSC Industrial Direct from $74.00 to $84.00 and gave the stock a "hold" rating in a research note on Wednesday. Industrial Alliance Securities set a $89.00 price objective on MSC Industrial Direct in a report on Tuesday, May 27th. Wolfe Research upgraded MSC Industrial Direct to a "strong-buy" rating in a research report on Sunday, April 6th. Finally, Robert W. Baird boosted their price target on shares of MSC Industrial Direct from $84.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $90.33.

MSC Industrial Direct Trading Up 0.4%

Shares of NYSE MSM traded up $0.36 during trading hours on Friday, hitting $89.97. 706,491 shares of the company traded hands, compared to its average volume of 619,471. The company's 50 day moving average price is $80.82 and its 200 day moving average price is $79.43. MSC Industrial Direct Company, Inc. has a 12 month low of $68.10 and a 12 month high of $90.85. The stock has a market capitalization of $5.01 billion, a price-to-earnings ratio of 25.42 and a beta of 0.87. The company has a current ratio of 1.92, a quick ratio of 0.88 and a debt-to-equity ratio of 0.21.

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

MSC Industrial Direct Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date is Wednesday, July 9th. MSC Industrial Direct's dividend payout ratio is currently 89.71%.

Insider Buying and Selling

In other MSC Industrial Direct news, Director Mitchell Jacobson bought 27,642 shares of the firm's stock in a transaction dated Tuesday, April 8th. The stock was acquired at an average cost of $69.77 per share, for a total transaction of $1,928,582.34. Following the completion of the transaction, the director owned 1,951,725 shares in the company, valued at $136,171,853.25. This trade represents a 1.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 18.30% of the stock is owned by company insiders.

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.