MSC Industrial Direct Co Inc (MSM) Given Average Rating of “Hold” by Brokerages
MSC Industrial Direct Co Inc (NYSE:MSM) has been given an average recommendation of “Hold” by the sixteen brokerages that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $89.27.
MSM has been the subject of several research reports. Zacks Investment Research upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a research note on Wednesday, September 27th. Stifel Nicolaus reiterated a “hold” rating and set a $84.00 price objective on shares of MSC Industrial Direct in a research note on Friday, November 3rd. BMO Capital Markets restated a “market perform” rating on shares of MSC Industrial Direct in a research note on Tuesday, September 12th. TheStreet downgraded shares of MSC Industrial Direct from a “b” rating to a “c+” rating in a research note on Wednesday, August 16th. Finally, Credit Suisse Group set a $93.00 target price on shares of MSC Industrial Direct and gave the company a “buy” rating in a research note on Friday, October 6th.
Shares of MSC Industrial Direct (NYSE:MSM) traded down $0.38 during trading hours on Thursday, hitting $88.99. 296,896 shares of the stock traded hands, compared to its average volume of 611,215. The stock has a market capitalization of $5,055.45, a P/E ratio of 22.19, a price-to-earnings-growth ratio of 1.75 and a beta of 0.67. The company has a current ratio of 1.80, a quick ratio of 0.97 and a debt-to-equity ratio of 0.16. MSC Industrial Direct has a 1-year low of $65.42 and a 1-year high of $105.70.
MSC Industrial Direct (NYSE:MSM) last announced its earnings results on Tuesday, October 31st. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. The company had revenue of $753.80 million during the quarter, compared to analysts’ expectations of $745.80 million. MSC Industrial Direct had a net margin of 8.01% and a return on equity of 19.42%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.02 earnings per share. sell-side analysts forecast that MSC Industrial Direct will post 4.45 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 28th. Shareholders of record on Tuesday, November 14th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Monday, November 13th. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.45. This represents a $1.92 dividend on an annualized basis and a yield of 2.16%. MSC Industrial Direct’s dividend payout ratio is currently 47.52%.
In related news, Director Mitchell Jacobson sold 104,101 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $80.91, for a total transaction of $8,422,811.91. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Steven N. Baruch sold 5,762 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $81.25, for a total transaction of $468,162.50. The disclosure for this sale can be found here. Insiders have sold 225,541 shares of company stock valued at $18,264,812 over the last ninety days. Insiders own 31.28% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position 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 worth $132,000 after purchasing an additional 123 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of MSC Industrial Direct by 0.5% during the second quarter. PNC Financial Services Group Inc. now owns 1,577 shares of the industrial products company’s stock valued at $136,000 after acquiring an additional 8 shares during the period. QS Investors LLC lifted its holdings in shares of MSC Industrial Direct by 0.5% during the second quarter. QS Investors LLC now owns 1,749 shares of the industrial products company’s stock valued at $150,000 after acquiring an additional 8 shares during the period. Zions Bancorporation acquired a new stake in MSC Industrial Direct in the third quarter worth about $150,000. Finally, Benjamin F. Edwards & Company Inc. increased its position in MSC Industrial Direct by 1,373.3% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,210 shares of the industrial products company’s stock worth $167,000 after purchasing an additional 2,060 shares during the period. Institutional investors own 75.57% of the company’s stock.
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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