MSC Industrial Direct Company, Inc. (MSM) Given a $86.00 Price Target at Wells Fargo & Company
Wells Fargo & Company set a $86.00 target price on MSC Industrial Direct Company, Inc. (NYSE:MSM) in a research report sent to investors on Wednesday. The firm currently has a hold rating on the industrial products company’s stock.
A number of other equities research analysts also recently commented on MSM. Credit Suisse Group cut their price objective on 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. Zacks Investment Research upgraded MSC Industrial Direct from a hold rating to a buy rating and set a $83.00 price objective for the company in a research report on Wednesday, September 27th. Robert W. Baird reiterated a neutral rating and set a $85.00 price objective (down previously from $92.00) on shares of MSC Industrial Direct in a research report on Thursday, July 13th. BMO Capital Markets cut their price objective on MSC Industrial Direct from $98.00 to $87.00 and set a market perform rating for the company in a research report on Friday, July 14th. Finally, BidaskClub upgraded MSC Industrial Direct from a strong sell rating to a sell rating in a research report on Wednesday, July 5th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $89.29.
MSC Industrial Direct (NYSE:MSM) traded down $0.37 on Wednesday, reaching $81.96. The company’s stock had a trading volume of 277,575 shares, compared to its average volume of 644,433. The stock has a market capitalization of $4,666.56, a price-to-earnings ratio of 20.29, a P/E/G ratio of 1.61 and a beta of 0.64. The company has a quick ratio of 0.98, a current ratio of 1.80 and a debt-to-equity ratio of 0.16.
MSC Industrial Direct (NYSE:MSM) last released its earnings results on Tuesday, October 31st. The industrial products company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. The firm had revenue of $753.80 million during the quarter, compared to the consensus estimate of $745.80 million. MSC Industrial Direct had a return on equity of 19.42% and a net margin of 8.01%. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.02 earnings per share. analysts forecast that MSC Industrial Direct will post 4.44 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 28th. Stockholders of record on Tuesday, November 14th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Monday, November 13th. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.45. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.34%. MSC Industrial Direct’s dividend payout ratio is 44.55%.
In related news, Director Mitchell Jacobson sold 33,866 shares of the company’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $82.39, for a total value of $2,790,219.74. Following the completion of the sale, the director now directly owns 35,932 shares in the company, valued at $2,960,437.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 31.28% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its holdings in MSC Industrial Direct by 26.2% in the second quarter. JPMorgan Chase & Co. now owns 3,124,573 shares of the industrial products company’s stock worth $268,588,000 after purchasing an additional 649,201 shares in the last quarter. American Century Companies Inc. boosted its holdings in MSC Industrial Direct by 1,889.6% in the third quarter. American Century Companies Inc. now owns 2,099,225 shares of the industrial products company’s stock worth $158,638,000 after purchasing an additional 1,993,717 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in MSC Industrial Direct by 267.2% in the second quarter. Alliancebernstein L.P. now owns 1,441,259 shares of the industrial products company’s stock worth $123,891,000 after purchasing an additional 1,048,714 shares in the last quarter. State Street Corp boosted its holdings in MSC Industrial Direct by 1.6% in the second quarter. State Street Corp now owns 1,222,773 shares of the industrial products company’s stock worth $105,113,000 after purchasing an additional 19,302 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in MSC Industrial Direct by 52.8% in the second quarter. Jennison Associates LLC now owns 912,001 shares of the industrial products company’s stock worth $78,396,000 after purchasing an additional 315,012 shares in the last quarter. Hedge funds and other institutional investors own 74.70% 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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