Brokerages Set MSC Industrial Direct Co., Inc. (NYSE:MSM) Price Target at $90.20

MSC Industrial Direct Co., Inc. (NYSE:MSM) has been given an average recommendation of “Hold” by the six research firms that are currently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $90.20.

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. cut their price target on MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Robert W. Baird upped their target price on shares of MSC Industrial Direct from $84.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th.

MSC Industrial Direct Trading Down 2.3 %

Shares of MSM stock opened at $85.45 on Friday. The business’s 50 day moving average is $82.98 and its two-hundred day moving average is $83.59. The company has a quick ratio of 0.90, a current ratio of 1.96 and a debt-to-equity ratio of 0.20. MSC Industrial Direct has a 12 month low of $75.05 and a 12 month high of $104.76. The company has a market cap of $4.78 billion, a PE ratio of 18.66 and a beta of 0.87.

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

MSC Industrial Direct Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $3.40 dividend on an annualized basis and a yield of 3.98%. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.83. MSC Industrial Direct’s payout ratio is currently 72.49%.

Insider Activity at MSC Industrial Direct

In other news, CEO Erik Gershwind sold 50,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $90.36, for a total transaction of $4,518,000.00. Following the sale, the chief executive officer now owns 1,402,849 shares in the company, valued at approximately $126,761,435.64. This represents a 3.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Philip Peller sold 900 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $89.07, for a total transaction of $80,163.00. Following the sale, the director now directly owns 4,044 shares in the company, valued at approximately $360,199.08. This represents 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.

Hedge Funds Weigh In On MSC Industrial Direct

Large investors have recently modified their holdings of the stock. American Century Companies Inc. raised 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 during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in MSC Industrial Direct by 7.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,567,038 shares of the industrial products company’s stock worth $134,859,000 after purchasing an additional 113,878 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in MSC Industrial Direct by 7.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 938,980 shares of the industrial products company’s stock valued at $74,467,000 after purchasing an additional 61,022 shares during the period. Pacer Advisors Inc. boosted its stake in shares of MSC Industrial Direct by 11.1% in the 3rd quarter. Pacer Advisors Inc. now owns 918,235 shares of the industrial products company’s stock valued at $79,023,000 after purchasing an additional 91,369 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of MSC Industrial Direct by 12.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 765,578 shares of the industrial products company’s stock worth $60,718,000 after buying an additional 84,967 shares during the period. 79.26% of the stock is currently owned by institutional investors and hedge funds.

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.