MSC Industrial Direct (MSM) Given a $114.00 Price Target at Stephens
Stephens set a $114.00 target price on MSC Industrial Direct (NYSE:MSM) in a research report sent to investors on Wednesday morning. The firm currently has a buy rating on the industrial products company’s stock.
Several other analysts also recently weighed in on the company. Zacks Investment Research upgraded MSC Industrial Direct from a hold rating to a buy rating and set a $110.00 price target on the stock in a research note on Wednesday. Credit Suisse Group restated an outperform rating and issued a $112.00 price target (up previously from $100.00) on shares of MSC Industrial Direct in a research note on Tuesday, January 9th. Susquehanna Bancshares restated a hold rating and issued a $92.00 price target on shares of MSC Industrial Direct in a research note on Wednesday, January 3rd. Raymond James Financial restated an outperform rating and issued a $105.00 price target (up previously from $95.00) on shares of MSC Industrial Direct in a research note on Thursday, January 4th. They noted that the move was a valuation call. Finally, UBS Group downgraded MSC Industrial Direct from a strong-buy rating to an outperform rating in a research note on Thursday, January 4th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. MSC Industrial Direct presently has a consensus rating of Hold and a consensus target price of $95.54.
MSC Industrial Direct (NYSE:MSM) opened at $94.75 on Wednesday. MSC Industrial Direct has a twelve month low of $65.42 and a twelve month high of $105.70. The company has a current ratio of 1.92, a quick ratio of 0.97 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $5,343.05, a P/E ratio of 22.89, a price-to-earnings-growth ratio of 1.81 and a beta of 0.67.
MSC Industrial Direct (NYSE:MSM) last posted its earnings results on Wednesday, January 10th. The industrial products company reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.01). The firm had revenue of $768.60 million for the quarter, compared to analysts’ expectations of $770.95 million. MSC Industrial Direct had a return on equity of 19.37% and a net margin of 7.97%. The firm’s revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the company posted $0.95 EPS. sell-side analysts expect that MSC Industrial Direct will post 4.8 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 30th. Investors of record on Tuesday, January 16th will be given a $0.58 dividend. The ex-dividend date of this dividend is Friday, January 12th. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.48. This represents a $2.32 annualized dividend and a yield of 2.45%. MSC Industrial Direct’s dividend payout ratio is 46.38%.
MSC Industrial Direct declared that its board has initiated a stock repurchase plan on Wednesday, January 10th that allows the company to repurchase 2,000,000 outstanding shares. This repurchase authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
In related news, Director Mitchell Jacobson sold 33,866 shares of the company’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 value of $2,790,219.74. Following the transaction, the director now directly owns 35,932 shares of the company’s stock, valued at approximately $2,960,437.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Christopher Davanzo sold 12,046 shares of the company’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $93.43, for a total value of $1,125,457.78. Following the completion of the transaction, the senior vice president now directly owns 12,432 shares in the company, valued at $1,161,521.76. The disclosure for this sale can be found here. Insiders sold a total of 237,587 shares of company stock worth $19,390,269 over the last ninety days. 31.28% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in MSM. American Century Companies Inc. lifted its holdings in shares of MSC Industrial Direct by 1,889.6% during the 3rd quarter. American Century Companies Inc. now owns 2,099,225 shares of the industrial products company’s stock valued at $158,638,000 after buying an additional 1,993,717 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of MSC Industrial Direct by 105.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,179,178 shares of the industrial products company’s stock valued at $89,112,000 after buying an additional 604,873 shares during the period. Schroder Investment Management Group lifted its holdings in shares of MSC Industrial Direct by 52.7% during the 3rd quarter. Schroder Investment Management Group now owns 964,486 shares of the industrial products company’s stock valued at $72,250,000 after buying an additional 332,893 shares during the period. Koch Industries Inc. lifted its holdings in shares of MSC Industrial Direct by 10,738.5% during the 2nd quarter. Koch Industries Inc. now owns 284,620 shares of the industrial products company’s stock valued at $281,000 after buying an additional 281,994 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of MSC Industrial Direct by 126.7% during the 3rd quarter. Principal Financial Group Inc. now owns 441,321 shares of the industrial products company’s stock valued at $33,350,000 after buying an additional 246,659 shares during the period. 75.55% of the stock is currently owned by institutional investors and hedge funds.
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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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