BMO Capital Markets Increases MSC Industrial Direct Company, Inc. (MSM) Price Target to $92.00
MSC Industrial Direct Company, Inc. (NYSE:MSM) had its price target hoisted by BMO Capital Markets from $83.00 to $92.00 in a report issued on Wednesday. They currently have a market perform rating on the industrial products company’s stock.
Several other analysts have also recently issued reports on the company. KeyCorp reaffirmed a hold rating on shares of MSC Industrial Direct in a report on Tuesday, October 17th. Zacks Investment Research cut MSC Industrial Direct from a buy rating to a hold rating in a report on Tuesday, October 17th. Gabelli raised MSC Industrial Direct from a hold rating to a buy rating and set a $94.00 price objective on the stock in a report on Friday, October 13th. Credit Suisse Group set a $93.00 price objective on MSC Industrial Direct and gave the stock a buy rating in a report on Friday, October 6th. Finally, Susquehanna Bancshares Inc began coverage on MSC Industrial Direct in a report on Monday, September 25th. They set a neutral rating and a $77.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. MSC Industrial Direct presently has a consensus rating of Hold and a consensus price target of $89.29.
MSC Industrial Direct (NYSE MSM) traded down $0.37 during midday trading on Wednesday, reaching $81.96. The company had a trading volume of 277,575 shares, compared to its average volume of 644,433. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.98 and a current ratio of 1.80. The company has a market capitalization of $4,666.56, a PE ratio of 20.29, a PEG ratio of 1.61 and a beta of 0.64.
MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.08. The business had revenue of $753.80 million for the quarter, compared to analysts’ expectations of $745.80 million. MSC Industrial Direct had a return on equity of 19.42% and a net margin of 8.01%. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.02 EPS. equities analysts predict that MSC Industrial Direct will post 4.44 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Stockholders of record on Tuesday, November 14th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Monday, November 13th. This represents a $1.92 annualized dividend and a dividend yield of 2.34%. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.45. MSC Industrial Direct’s payout ratio is currently 44.55%.
In other news, Director Mitchell Jacobson sold 33,866 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $82.39, for a total transaction of $2,790,219.74. Following the transaction, the director now owns 35,932 shares of the company’s stock, valued at approximately $2,960,437.48. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 31.28% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Alpha Windward LLC bought a new position in MSC Industrial Direct in the 3rd quarter valued at $521,000. Brookstone Capital Management bought a new position in MSC Industrial Direct in the 2nd quarter valued at $281,000. Alliancebernstein L.P. grew its position in MSC Industrial Direct by 267.2% in the 2nd quarter. Alliancebernstein L.P. now owns 1,441,259 shares of the industrial products company’s stock valued at $123,891,000 after acquiring an additional 1,048,714 shares during the last quarter. Oak Ridge Investments LLC grew its position in MSC Industrial Direct by 37.8% in the 2nd quarter. Oak Ridge Investments LLC now owns 14,710 shares of the industrial products company’s stock valued at $1,264,000 after acquiring an additional 4,035 shares during the last quarter. Finally, Westpac Banking Corp grew its position in MSC Industrial Direct by 7.3% in the 2nd quarter. Westpac Banking Corp now owns 69,500 shares of the industrial products company’s stock valued at $5,974,000 after acquiring an additional 4,700 shares during the last quarter. 74.70% 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.
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