MSC Industrial Direct (NYSE:MSM) PT Lowered to $80.00 at Raymond James

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MSC Industrial Direct (NYSE:MSM) had its price objective lowered by Raymond James from $90.00 to $80.00 in a report released on Thursday, BenzingaRatingsTable reports. The firm currently has an outperform rating on the industrial products company’s stock.

A number of other research firms also recently issued reports on MSM. Robert W. Baird increased their price objective on Atlassian from $110.00 to $120.00 and gave the stock an outperform rating in a report on Thursday, April 11th. Wells Fargo & Co decreased their price objective on MSC Industrial Direct from $85.00 to $80.00 and set a market perform rating for the company in a report on Thursday, April 11th. Zacks Investment Research upgraded SCHNEIDER ELEC /ADR from a hold rating to a buy rating and set a $20.00 price objective for the company in a report on Friday, July 5th. Gordon Haskett downgraded MSC Industrial Direct from a buy rating to a hold rating and set a $72.02 price objective for the company. in a report on Monday, June 10th. Finally, ValuEngine upgraded VESTAS WIND SYS/ADR from a hold rating to a buy rating in a report on Thursday, May 9th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $80.70.

MSM opened at $72.55 on Thursday. The business has a fifty day moving average price of $72.39. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.18 and a current ratio of 2.50. The company has a market capitalization of $4.00 billion, a P/E ratio of 13.66, a price-to-earnings-growth ratio of 1.34 and a beta of 0.94. MSC Industrial Direct has a 12-month low of $67.25 and a 12-month high of $90.25.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data on Wednesday, July 10th. The industrial products company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.05). The firm had revenue of $866.50 million during the quarter, compared to the consensus estimate of $881.62 million. MSC Industrial Direct had a return on equity of 21.08% and a net margin of 8.79%. MSC Industrial Direct’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.39 EPS. On average, sell-side analysts predict that MSC Industrial Direct will post 5.33 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 6th. Stockholders of record on Tuesday, July 23rd will be issued a dividend of $0.75 per share. The ex-dividend date is Monday, July 22nd. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.63. This represents a $3.00 annualized dividend and a dividend yield of 4.14%. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 49.61%.

In other news, EVP Douglas E. Jones sold 2,126 shares of the firm’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $83.50, for a total transaction of $177,521.00. Following the completion of the transaction, the executive vice president now directly owns 7,496 shares in the company, valued at $625,916. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven N. Baruch sold 5,404 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $82.00, for a total value of $443,128.00. The disclosure for this sale can be found here. 27.96% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MSM. Investors Research Corp bought a new stake in MSC Industrial Direct in the 1st quarter worth about $25,000. Quadrant Capital Group LLC increased its holdings in MSC Industrial Direct by 1,212.1% in the 1st quarter. Quadrant Capital Group LLC now owns 761 shares of the industrial products company’s stock worth $60,000 after buying an additional 703 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in MSC Industrial Direct by 25.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,151 shares of the industrial products company’s stock worth $89,000 after buying an additional 231 shares in the last quarter. NumerixS Investment Technologies Inc increased its holdings in MSC Industrial Direct by 71.4% in the 1st quarter. NumerixS Investment Technologies Inc now owns 1,200 shares of the industrial products company’s stock worth $98,000 after buying an additional 500 shares in the last quarter. Finally, ETF Managers Group LLC increased its holdings in MSC Industrial Direct by 9.8% in the 1st quarter. ETF Managers Group LLC now owns 1,592 shares of the industrial products company’s stock worth $132,000 after buying an additional 142 shares in the last quarter. Institutional investors own 76.11% of the company’s stock.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products in the United States, Canada, and the United Kingdom. The company's MRO products comprise 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.

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Analyst Recommendations for MSC Industrial Direct (NYSE:MSM)

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