Zacks Investment Research downgraded shares of MSC Industrial Direct Co Inc (NYSE:MSM) from a buy rating to a hold rating in a research note released on Wednesday.

According to Zacks, “MSC Industrial Direct Company Inc. is one of the largest direct marketers of a broad range of industrial products to small and mid-sized industrial customers throughout the United States. The company distributes a full line of industrial products, such as cutting tools, abrasives, measuring instruments, machine tool accessories, safety equipment, fasteners, welding supplies and electrical supplies, intended to satisfy the customers’ maintenance, repair and operations supplies requirements. “

Several other brokerages have also recently issued reports on MSM. William Blair upgraded MSC Industrial Direct Co from a market perform rating to an outperform rating in a research note on Monday, December 5th. Deutsche Bank AG upgraded MSC Industrial Direct Co from a sell rating to a hold rating and set a $91.00 price objective on the stock in a research note on Thursday, January 26th. Stifel Nicolaus reduced their price objective on MSC Industrial Direct Co from $104.00 to $89.00 and set a hold rating on the stock in a research note on Thursday, January 12th. KeyCorp increased their price objective on MSC Industrial Direct Co from $90.00 to $97.00 and gave the company an overweight rating in a research note on Tuesday, November 29th. Finally, Citigroup Inc cut MSC Industrial Direct Co to a market perform rating in a research note on Monday, December 5th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. MSC Industrial Direct Co currently has a consensus rating of Hold and an average price target of $91.18.

Analyst Recommendations for MSC Industrial Direct Co (NYSE:MSM)

Shares of MSC Industrial Direct Co (NYSE:MSM) traded up 0.07% during mid-day trading on Wednesday, reaching $102.11. The company’s stock had a trading volume of 42,399 shares. MSC Industrial Direct Co has a 52 week low of $67.74 and a 52 week high of $105.70. The company’s 50-day moving average is $103.14 and its 200-day moving average is $87.95. The stock has a market capitalization of $5.79 billion, a price-to-earnings ratio of 26.64 and a beta of 0.56.

MSC Industrial Direct Co (NYSE:MSM) last released its quarterly earnings results on Wednesday, January 11th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. The company had revenue of $686.30 million for the quarter. MSC Industrial Direct Co had a return on equity of 18.33% and a net margin of 8.10%. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the company earned $0.89 earnings per share. Equities analysts predict that MSC Industrial Direct Co will post $3.97 EPS for the current year.

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In related news, SVP Christopher Davanzo sold 2,942 shares of the stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $105.50, for a total value of $310,381.00. Following the transaction, the senior vice president now owns 9,447 shares of the company’s stock, valued at $996,658.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP David Wright sold 2,866 shares of the stock in a transaction on Thursday, January 12th. The shares were sold at an average price of $99.00, for a total value of $283,734.00. Following the completion of the transaction, the senior vice president now directly owns 21,307 shares in the company, valued at approximately $2,109,393. The disclosure for this sale can be found here. Insiders sold 85,875 shares of company stock worth $8,752,403 in the last three months. 31.28% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of MSM. King Luther Capital Management Corp raised its position in MSC Industrial Direct Co by 9.0% in the third quarter. King Luther Capital Management Corp now owns 127,895 shares of the company’s stock valued at $9,389,000 after buying an additional 10,515 shares during the period. Denali Advisors LLC acquired a new position in MSC Industrial Direct Co during the third quarter valued at approximately $2,944,000. New York State Common Retirement Fund raised its position in MSC Industrial Direct Co by 13.0% in the third quarter. New York State Common Retirement Fund now owns 166,800 shares of the company’s stock valued at $12,245,000 after buying an additional 19,200 shares during the period. Russell Investments Group Ltd. acquired a new position in MSC Industrial Direct Co during the fourth quarter valued at approximately $8,930,000. Finally, FMR LLC raised its position in MSC Industrial Direct Co by 653.7% in the fourth quarter. FMR LLC now owns 1,781,993 shares of the company’s stock valued at $164,639,000 after buying an additional 1,545,564 shares during the period. 80.99% of the stock is currently owned by hedge funds and other institutional investors.

About MSC Industrial Direct Co

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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