Envestnet Asset Management Inc. Decreases Stock Position in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Envestnet Asset Management Inc. cut its holdings in MSC Industrial Direct Co., Inc. (NYSE:MSM) by 34.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,557 shares of the industrial products company’s stock after selling 48,031 shares during the period. Envestnet Asset Management Inc. owned about 0.16% of MSC Industrial Direct worth $6,838,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of MSC Industrial Direct during the fourth quarter worth about $34,735,000. American Century Companies Inc. increased its position in MSC Industrial Direct by 6.0% during the fourth quarter. American Century Companies Inc. now owns 3,418,260 shares of the industrial products company’s stock worth $255,310,000 after buying an additional 193,860 shares during the period. Royce & Associates LP increased its position in MSC Industrial Direct by 76.0% during the fourth quarter. Royce & Associates LP now owns 424,437 shares of the industrial products company’s stock worth $31,701,000 after buying an additional 183,343 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in MSC Industrial Direct by 8.1% in 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 buying an additional 126,218 shares during the last quarter. Finally, Boston Trust Walden Corp boosted its holdings in shares of MSC Industrial Direct by 20.5% in the fourth quarter. Boston Trust Walden Corp now owns 618,103 shares of the industrial products company’s stock valued at $46,166,000 after acquiring an additional 105,265 shares during the period. Institutional investors and hedge funds own 79.26% of the company’s stock.

MSC Industrial Direct Price Performance

MSC Industrial Direct stock opened at $77.24 on Monday. The company has a quick ratio of 0.91, a current ratio of 1.93 and a debt-to-equity ratio of 0.21. The firm’s 50-day simple moving average is $78.04 and its 200 day simple moving average is $80.51. The firm has a market capitalization of $4.30 billion, a PE ratio of 18.44 and a beta of 0.89. MSC Industrial Direct Co., Inc. has a 52 week low of $68.10 and a 52 week high of $94.31.

MSC Industrial Direct (NYSE:MSM) last announced its earnings results on Thursday, April 3rd. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. The firm had revenue of $891.70 million for the quarter, compared to analyst estimates of $908.30 million. MSC Industrial Direct had a net margin of 6.21% and a return on equity of 17.80%. MSC Industrial Direct’s revenue was down 4.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.18 earnings per share. On average, equities research analysts predict that MSC Industrial Direct Co., Inc. will post 3.57 EPS for the current fiscal year.

MSC Industrial Direct Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 4.40%. The ex-dividend date is Wednesday, April 9th. MSC Industrial Direct’s dividend payout ratio (DPR) is 89.71%.

Insiders Place Their Bets

In other news, Director Mitchell Jacobson purchased 27,642 shares of the company’s stock in a transaction on Tuesday, April 8th. The stock was bought at an average cost of $69.77 per share, for a total transaction of $1,928,582.34. Following the completion of the purchase, the director now directly owns 1,951,725 shares of the company’s stock, valued at $136,171,853.25. The trade was a 1.44 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 18.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on MSM. Robert W. Baird reduced their price target on shares of MSC Industrial Direct from $90.00 to $84.00 and set a “neutral” rating for the company in a research report on Friday, April 4th. Loop Capital decreased their target price on shares of MSC Industrial Direct from $83.00 to $74.00 and set a “hold” rating for the company in a research note on Friday, April 4th. Finally, Wolfe Research upgraded MSC Industrial Direct to a “strong-buy” rating in a research report on Sunday, April 6th. Seven analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, MSC Industrial Direct has an average rating of “Hold” and an average price target of $82.20.

About MSC Industrial Direct

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.