BMO Capital Markets Cuts MSC Industrial Direct Company, Inc. (MSM) Price Target to $87.00

MSC Industrial Direct Company, Inc. (NYSE:MSM) had its price target cut by BMO Capital Markets from $98.00 to $87.00 in a research report released on Friday, July 14th. They currently have a market perform rating on the industrial products company’s stock.

Other research analysts also recently issued research reports about the company. Zacks Investment Research raised MSC Industrial Direct from a hold rating to a buy rating and set a $108.00 price objective on the stock in a report on Saturday, April 8th. BidaskClub upgraded shares of MSC Industrial Direct from a strong sell rating to a sell rating in a research report on Wednesday, July 5th. Stifel Nicolaus reiterated a hold rating and set a $88.00 target price (down previously from $92.00) on shares of MSC Industrial Direct in a research report on Monday, June 12th. KeyCorp reiterated a sector weight rating on shares of MSC Industrial Direct in a research report on Tuesday, April 4th. Finally, Credit Suisse Group lowered their price objective on shares of MSC Industrial Direct from $100.00 to $93.00 and set an outperform rating for the company in a research report on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $90.85.

MSC Industrial Direct (NYSE:MSM) opened at 70.12 on Friday. The stock has a 50 day moving average price of $78.84 and a 200-day moving average price of $91.42. MSC Industrial Direct has a 12-month low of $69.33 and a 12-month high of $105.70. The firm has a market cap of $3.99 billion, a price-to-earnings ratio of 17.49 and a beta of 0.50.

MSC Industrial Direct (NYSE:MSM) last announced its earnings results on Wednesday, July 12th. The industrial products company reported $1.09 EPS for the quarter, hitting the consensus estimate of $1.09. The business had revenue of $743.90 million for the quarter, compared to the consensus estimate of $744.49 million. MSC Industrial Direct had a return on equity of 20.05% and a net margin of 8.07%. MSC Industrial Direct’s revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.05 EPS. Equities analysts forecast that MSC Industrial Direct will post $3.98 earnings per share for the current year.

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The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Tuesday, July 18th were given a dividend of $0.45 per share. The ex-dividend date was Friday, July 14th. This represents a $1.80 annualized dividend and a yield of 2.57%. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 45.11%.

In related news, Director Philip Peller acquired 1,000 shares of the business’s stock in a transaction on Wednesday, July 19th. The stock was purchased at an average cost of $72.00 per share, for a total transaction of $72,000.00. Following the completion of the transaction, the director now directly owns 2,422 shares of the company’s stock, valued at approximately $174,384. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 31.28% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Morgan Dempsey Capital Management LLC boosted its position in shares of MSC Industrial Direct by 3.5% in the first quarter. Morgan Dempsey Capital Management LLC now owns 1,093 shares of the industrial products company’s stock valued at $112,000 after buying an additional 37 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of 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 buying an additional 123 shares in the last quarter. Simplex Trading LLC acquired a new position in shares of MSC Industrial Direct during the first quarter valued at approximately $139,000. PNC Financial Services Group Inc. boosted its position in shares of MSC Industrial Direct by 5.9% in the first quarter. PNC Financial Services Group Inc. now owns 1,569 shares of the industrial products company’s stock valued at $161,000 after buying an additional 88 shares in the last quarter. Finally, Invictus RG boosted its position in shares of MSC Industrial Direct by 796.7% in the first quarter. Invictus RG now owns 1,623 shares of the industrial products company’s stock valued at $167,000 after buying an additional 1,442 shares in the last quarter. 76.83% of the stock is currently owned by institutional investors.

MSC Industrial Direct Company Profile

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.

Analyst Recommendations for MSC Industrial Direct (NYSE:MSM)

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