Stifel Nicolaus reiterated their hold rating on shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) in a research note issued to investors on Friday, November 3rd. Stifel Nicolaus currently has a $84.00 price target on the industrial products company’s stock.
Several other analysts also recently weighed in on MSM. J P Morgan Chase & Co downgraded shares of MSC Industrial Direct from an overweight rating to a neutral rating and dropped their target price for the stock from $80.00 to $76.00 in a research report on Friday, August 4th. BMO Capital Markets decreased their price objective on shares of MSC Industrial Direct from $98.00 to $87.00 and set a market perform rating for the company in a research note on Friday, July 14th. Susquehanna Bancshares Inc started coverage on shares of MSC Industrial Direct in a research note on Monday, September 25th. They set a neutral rating and a $77.00 price objective for the company. KeyCorp reiterated a hold rating on shares of MSC Industrial Direct in a research note on Tuesday, October 17th. Finally, Zacks Investment Research cut shares of MSC Industrial Direct from a buy rating to a hold rating in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $88.31.
Shares of MSC Industrial Direct (MSM) traded down $0.71 during trading hours on Friday, hitting $81.49. 251,084 shares of the company’s stock were exchanged, compared to its average volume of 620,238. MSC Industrial Direct has a 1-year low of $65.42 and a 1-year high of $105.70. The stock has a market cap of $4,640.00, a PE ratio of 20.14, a P/E/G ratio of 1.59 and a beta of 0.64. The company has a quick ratio of 0.97, a current ratio of 1.80 and a debt-to-equity ratio of 0.16.
MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.99 by $0.08. MSC Industrial Direct had a net margin of 8.01% and a return on equity of 19.42%. The business had revenue of $753.80 million during the quarter, compared to analyst estimates of $745.80 million. During the same quarter in the previous year, the business posted $1.02 EPS. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. equities research analysts forecast that MSC Industrial Direct will post 4.45 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Investors of record on Tuesday, November 14th will be issued a $0.48 dividend. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Monday, November 13th. This represents a $1.92 annualized dividend and a yield of 2.36%. MSC Industrial Direct’s dividend payout ratio (DPR) is 47.52%.
In related news, EVP Steven N. Baruch sold 5,762 shares of MSC Industrial Direct stock in a transaction on Monday, November 20th. The shares were sold at an average price of $81.25, for a total value of $468,162.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mitchell Jacobson sold 33,866 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $82.39, for a total value of $2,790,219.74. Following the completion of the sale, the director now directly owns 35,932 shares of the company’s stock, valued at approximately $2,960,437.48. The disclosure for this sale can be found here. Insiders sold 225,541 shares of company stock worth $18,264,812 over the last quarter. 31.28% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in MSC Industrial Direct by 8.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,539 shares of the industrial products company’s stock valued at $132,000 after acquiring an additional 123 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of MSC Industrial Direct by 0.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,577 shares of the industrial products company’s stock worth $136,000 after buying an additional 8 shares during the last quarter. QS Investors LLC raised its stake in shares of MSC Industrial Direct by 0.5% during the 2nd quarter. QS Investors LLC now owns 1,749 shares of the industrial products company’s stock worth $150,000 after buying an additional 8 shares during the last quarter. Zions Bancorporation acquired a new position in shares of MSC Industrial Direct during the 3rd quarter worth $150,000. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of MSC Industrial Direct by 1,373.3% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 2,210 shares of the industrial products company’s stock worth $167,000 after buying an additional 2,060 shares during the last quarter. 73.67% of the stock is owned by institutional investors.
About MSC Industrial Direct
MSC Industrial Direct Co, Inc is a North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. The Company’s range of MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, 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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