Envestnet Asset Management Inc. Sells 76,900 Shares of MSC Industrial Direct Company, Inc. $MSM

Envestnet Asset Management Inc. lowered its stake in shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) by 65.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,008 shares of the industrial products company’s stock after selling 76,900 shares during the period. Envestnet Asset Management Inc. owned approximately 0.07% of MSC Industrial Direct worth $3,686,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. American Century Companies Inc. raised its stake in MSC Industrial Direct by 2.5% during the 2nd quarter. American Century Companies Inc. now owns 3,743,021 shares of the industrial products company’s stock worth $318,232,000 after buying an additional 92,800 shares during the period. Mackenzie Financial Corp increased its holdings in shares of MSC Industrial Direct by 0.5% during the second quarter. Mackenzie Financial Corp now owns 508,514 shares of the industrial products company’s stock valued at $43,234,000 after acquiring an additional 2,554 shares in the last quarter. Norges Bank acquired a new position in shares of MSC Industrial Direct during the second quarter worth approximately $39,950,000. Alliancebernstein L.P. lifted its holdings in shares of MSC Industrial Direct by 21.5% in the 2nd quarter. Alliancebernstein L.P. now owns 362,768 shares of the industrial products company’s stock worth $30,843,000 after purchasing an additional 64,171 shares in the last quarter. Finally, Auto Owners Insurance Co grew its position in MSC Industrial Direct by 1,118.9% in the 2nd quarter. Auto Owners Insurance Co now owns 346,000 shares of the industrial products company’s stock valued at $29,417,000 after purchasing an additional 317,613 shares during the period. 79.26% of the stock is currently owned by institutional investors and hedge funds.

MSC Industrial Direct Trading Up 2.0%

Shares of MSM stock opened at $93.65 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.82 and a current ratio of 1.73. The company has a market capitalization of $5.23 billion, a price-to-earnings ratio of 25.59 and a beta of 0.84. MSC Industrial Direct Company, Inc. has a 52-week low of $68.10 and a 52-week high of $96.99. The company has a 50-day simple moving average of $88.09 and a two-hundred day simple moving average of $88.13.

MSC Industrial Direct (NYSE:MSM) last posted its earnings results on Wednesday, January 7th. The industrial products company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.95 by $0.04. The firm had revenue of $965.68 million for the quarter, compared to analysts’ expectations of $962.52 million. MSC Industrial Direct had a net margin of 5.37% and a return on equity of 15.73%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.86 EPS. Research analysts anticipate that MSC Industrial Direct Company, Inc. will post 3.57 EPS for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 28th. Shareholders of record on Wednesday, January 14th were paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Wednesday, January 14th. MSC Industrial Direct’s dividend payout ratio is 95.08%.

Analysts Set New Price Targets

MSM has been the topic of several research reports. Robert W. Baird set a $94.00 price objective on shares of MSC Industrial Direct in a report on Thursday, January 8th. Jefferies Financial Group reissued a “hold” rating and set a $85.00 target price on shares of MSC Industrial Direct in a research report on Thursday, January 8th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $95.00 target price on shares of MSC Industrial Direct in a report on Friday, February 6th. iA Financial set a $95.00 price target on MSC Industrial Direct in a research note on Friday, February 6th. Finally, Zacks Research downgraded MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 3rd. Nine research analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $90.50.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc (NYSE: MSM) is a leading distributor of metalworking and maintenance, repair and operations (MRO) products serving a broad range of industrial customers across North America. The company offers an extensive portfolio of cutting tools, abrasives, measuring and inspection instruments, fasteners, safety supplies and other essential components used in manufacturing, metalworking and production environments. MSC delivers products through a multi-channel distribution network, including an extensive branch system, e-commerce platform and dedicated sales force.

In addition to its core product offerings, MSC Industrial Direct provides value-added services designed to improve productivity and reduce downtime for its customers.