MSC Industrial Direct Company, Inc. (NYSE:MSM) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its stake in MSC Industrial Direct Company, Inc. (NYSE:MSM) by 23.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 113,309 shares of the industrial products company’s stock after buying an additional 21,752 shares during the period. Envestnet Asset Management Inc. owned approximately 0.20% of MSC Industrial Direct worth $8,801,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Headlands Technologies LLC acquired a new stake in MSC Industrial Direct during the 4th quarter valued at $25,000. Farther Finance Advisors LLC grew its holdings in shares of MSC Industrial Direct by 895.0% during the 1st quarter. Farther Finance Advisors LLC now owns 597 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 537 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of MSC Industrial Direct by 47.1% during the 1st quarter. GAMMA Investing LLC now owns 681 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 218 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of MSC Industrial Direct by 51.1% during the 1st quarter. UMB Bank n.a. now owns 719 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 243 shares in the last quarter. Finally, HM Payson & Co. purchased a new position in shares of MSC Industrial Direct during the 1st quarter valued at $59,000. Institutional investors own 79.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MSM. Industrial Alliance Securities set a $89.00 target price on shares of MSC Industrial Direct in a research report on Tuesday, May 27th. Loop Capital boosted their target price on shares of MSC Industrial Direct from $74.00 to $84.00 and gave the stock a “hold” rating in a research report on Wednesday, July 2nd. Wolfe Research raised shares of MSC Industrial Direct to a “strong-buy” rating in a research report on Sunday, April 6th. JPMorgan Chase & Co. raised shares of MSC Industrial Direct from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $73.00 to $89.00 in a research report on Tuesday, May 27th. Finally, Robert W. Baird boosted their target price 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, July 2nd. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, MSC Industrial Direct currently has an average rating of “Moderate Buy” and a consensus price target of $90.33.

Insider Transactions at MSC Industrial Direct

In other news, SVP Kimberly Shacklett sold 2,130 shares of the company’s stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $92.00, for a total value of $195,960.00. Following the sale, the senior vice president directly owned 14,657 shares of the company’s stock, valued at approximately $1,348,444. This represents a 12.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 18.30% of the company’s stock.

MSC Industrial Direct Stock Performance

NYSE MSM opened at $85.97 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 1.92 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $4.79 billion, a P/E ratio of 24.28 and a beta of 0.87. MSC Industrial Direct Company, Inc. has a 12-month low of $68.10 and a 12-month high of $92.68. The firm has a 50-day moving average price of $83.64 and a two-hundred day moving average price of $80.48.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data on Tuesday, July 1st. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.05. The firm had revenue of $971.15 million during the quarter, compared to the consensus estimate 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 for the quarter was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.33 EPS. Analysts anticipate that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current year.

MSC Industrial Direct Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend is Wednesday, July 9th. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 96.05%.

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.