Brokerages Set MSC Industrial Direct Co., Inc. (NYSE:MSM) PT at $85.20

MSC Industrial Direct Co., Inc. (NYSE:MSM) has been given an average recommendation of “Hold” by the six research firms that are covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $85.20.

Several equities analysts have issued reports on the company. Stephens downgraded MSC Industrial Direct from an “overweight” rating to an “equal weight” rating and set a $85.00 price objective for the company. in a research report on Wednesday. JPMorgan Chase & Co. reduced their target price on shares of MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Finally, Robert W. Baird boosted their price objective on shares of MSC Industrial Direct from $84.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th.

MSC Industrial Direct Stock Down 0.3 %

Shares of NYSE MSM opened at $83.13 on Thursday. MSC Industrial Direct has a 52-week low of $75.05 and a 52-week high of $104.76. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.90 and a current ratio of 1.96. The business has a fifty day moving average of $83.62 and a two-hundred day moving average of $82.65. The stock has a market cap of $4.65 billion, a PE ratio of 18.15 and a beta of 0.89.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data on Thursday, October 24th. The industrial products company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.05). The firm had revenue of $952.30 million for the quarter, compared to analyst estimates of $959.74 million. MSC Industrial Direct had a return on equity of 19.35% and a net margin of 6.77%. The business’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.64 EPS. As a group, equities research analysts expect that MSC Industrial Direct will post 3.65 earnings per share for the current fiscal year.

MSC Industrial Direct Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were given a dividend of $0.85 per share. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, November 13th. This represents a $3.40 annualized dividend and a dividend yield of 4.09%. MSC Industrial Direct’s payout ratio is currently 74.24%.

Insider Buying and Selling

In related news, CEO Erik Gershwind sold 50,000 shares of MSC Industrial Direct stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $90.36, for a total transaction of $4,518,000.00. Following the transaction, the chief executive officer now owns 1,402,849 shares of the company’s stock, valued at $126,761,435.64. This trade represents a 3.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Philip Peller sold 900 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $89.07, for a total transaction of $80,163.00. Following the completion of the sale, the director now directly owns 4,044 shares of the company’s stock, valued at $360,199.08. The trade was a 18.20 % decrease in their position. The disclosure for this sale can be found here. 18.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MSC Industrial Direct

Several large investors have recently modified their holdings of MSM. American Century Companies Inc. increased its position in shares of MSC Industrial Direct by 85.1% during the second quarter. American Century Companies Inc. now owns 2,733,228 shares of the industrial products company’s stock worth $216,772,000 after acquiring an additional 1,256,706 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in MSC Industrial Direct by 804.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 173,653 shares of the industrial products company’s stock worth $13,772,000 after purchasing an additional 154,454 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of MSC Industrial Direct in the 3rd quarter valued at about $12,170,000. Renaissance Technologies LLC raised its stake in shares of MSC Industrial Direct by 1,715.2% in the 2nd quarter. Renaissance Technologies LLC now owns 143,400 shares of the industrial products company’s stock valued at $11,373,000 after purchasing an additional 135,500 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of MSC Industrial Direct by 7.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,567,038 shares of the industrial products company’s stock valued at $134,859,000 after purchasing an additional 113,878 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors.

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.