MSC Industrial Direct Co., Inc. (NYSE:MSM) Receives $83.80 Average Target Price from Brokerages

MSC Industrial Direct Co., Inc. (NYSE:MSMGet Free Report) has earned a consensus rating of “Hold” from the seven ratings firms that are covering the company, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $83.80.

A number of research firms have recently issued reports on MSM. Stephens lowered MSC Industrial Direct from an “overweight” rating to an “equal weight” rating and set a $85.00 target price on the stock. in a report on Wednesday, December 4th. JPMorgan Chase & Co. cut their price target on shares of MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Wolfe Research started coverage on MSC Industrial Direct in a research note on Thursday, January 16th. They issued an “outperform” rating and a $95.00 price target on the stock. Finally, Robert W. Baird raised their price objective 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.

Read Our Latest Research Report on MSC Industrial Direct

MSC Industrial Direct Stock Performance

Shares of MSM stock opened at $82.99 on Friday. The company has a market cap of $4.64 billion, a P/E ratio of 19.81 and a beta of 0.91. The company has a current ratio of 1.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. The firm has a fifty day moving average price of $81.19 and a 200 day moving average price of $82.14. MSC Industrial Direct has a 12 month low of $72.79 and a 12 month high of $104.76.

MSC Industrial Direct (NYSE:MSMGet Free Report) last issued its quarterly earnings data on Wednesday, January 8th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.13. MSC Industrial Direct had a return on equity of 17.80% and a net margin of 6.21%. The company had revenue of $928.50 million for the quarter, compared to analyst estimates of $904.90 million. During the same quarter last year, the company posted $1.25 earnings per share. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. Sell-side analysts predict that MSC Industrial Direct will post 3.57 earnings per share for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 15th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $3.40 dividend on an annualized basis and a yield of 4.10%. MSC Industrial Direct’s dividend payout ratio (DPR) is 81.15%.

Insider Buying and Selling at MSC Industrial Direct

In other news, Director Philip Peller sold 900 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $89.07, for a total transaction of $80,163.00. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Erik Gershwind sold 50,000 shares of MSC Industrial Direct stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $90.36, for a total value of $4,518,000.00. Following the completion of the transaction, the chief executive officer now owns 1,402,849 shares of the company’s stock, valued at $126,761,435.64. This trade represents a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MSC Industrial Direct

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. V Square Quantitative Management LLC acquired a new stake in shares of MSC Industrial Direct in the 3rd quarter worth about $26,000. UMB Bank n.a. grew its holdings in MSC Industrial Direct by 442.1% in the 3rd quarter. UMB Bank n.a. now owns 309 shares of the industrial products company’s stock worth $27,000 after buying an additional 252 shares in the last quarter. Quent Capital LLC increased its position in MSC Industrial Direct by 57.0% in the 3rd quarter. Quent Capital LLC now owns 372 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 135 shares during the period. First Horizon Advisors Inc. lifted its holdings in MSC Industrial Direct by 53.0% in the third quarter. First Horizon Advisors Inc. now owns 407 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 141 shares during the period. Finally, Synergy Asset Management LLC acquired a new stake in shares of MSC Industrial Direct in the 4th quarter worth approximately $36,000. 79.26% of the stock is currently owned by institutional investors and hedge funds.

About MSC Industrial Direct

(Get Free Report

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.

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Analyst Recommendations for MSC Industrial Direct (NYSE:MSM)

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