MSC Industrial Direct (NYSE:MSM) Hits New 12-Month Low After Analyst Downgrade

MSC Industrial Direct Co., Inc. (NYSE:MSM)’s stock price hit a new 52-week low during mid-day trading on Friday after Robert W. Baird lowered their price target on the stock from $95.00 to $84.00. Robert W. Baird currently has a neutral rating on the stock. MSC Industrial Direct traded as low as $77.49 and last traded at $77.49, with a volume of 307300 shares trading hands. The stock had previously closed at $84.66.

A number of other research analysts have also weighed in on the company. Baird R W lowered MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 29th. StockNews.com downgraded MSC Industrial Direct from a “buy” rating to a “hold” rating in a research note on Saturday, June 8th. Finally, Stephens reaffirmed an “overweight” rating and issued a $110.00 target price on shares of MSC Industrial Direct in a research note on Monday, April 1st. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, MSC Industrial Direct presently has a consensus rating of “Hold” and an average price target of $101.80.

Institutional Trading of MSC Industrial Direct

Hedge funds and other institutional investors have recently modified their holdings of the business. Contravisory Investment Management Inc. acquired a new stake in shares of MSC Industrial Direct during the 4th quarter worth about $25,000. Future Financial Wealth Managment LLC purchased a new position in MSC Industrial Direct during the 1st quarter valued at about $29,000. Bessemer Group Inc. boosted its holdings in MSC Industrial Direct by 261.7% during the 1st quarter. Bessemer Group Inc. now owns 387 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 280 shares during the period. GAMMA Investing LLC purchased a new position in MSC Industrial Direct during the 4th quarter valued at about $40,000. Finally, Quarry LP purchased a new position in MSC Industrial Direct during the 4th quarter valued at about $40,000. 79.26% of the stock is owned by institutional investors and hedge funds.

MSC Industrial Direct Stock Down 10.4 %

The business has a fifty day moving average of $89.89 and a 200 day moving average of $95.47. The company has a market capitalization of $4.27 billion, a PE ratio of 13.62 and a beta of 0.89. The company has a current ratio of 2.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.21.

MSC Industrial Direct (NYSE:MSM) last announced its earnings results on Thursday, March 28th. The industrial products company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.02. MSC Industrial Direct had a return on equity of 22.58% and a net margin of 7.89%. The company had revenue of $935.30 million during the quarter, compared to analysts’ expectations of $946.55 million. During the same period last year, the business posted $1.45 EPS. MSC Industrial Direct’s revenue for the quarter was down 2.7% on a year-over-year basis. Equities research analysts anticipate that MSC Industrial Direct Co., Inc. will post 5.69 EPS for the current year.

MSC Industrial Direct Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 23rd. Stockholders of record on Tuesday, April 9th were paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 4.38%. The ex-dividend date was Monday, April 8th. MSC Industrial Direct’s payout ratio is presently 59.61%.

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.