MSC Industrial Direct’s (MSM) “Hold” Rating Reaffirmed at Stifel Nicolaus
Stifel Nicolaus reissued their hold rating on shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) in a report released on Friday morning. The firm currently has a $84.00 target price on the industrial products company’s stock.
MSM has been the topic of several other research reports. J P Morgan Chase & Co downgraded shares of MSC Industrial Direct from an overweight rating to a neutral rating and cut their price objective for the company from $80.00 to $76.00 in a report on Friday, August 4th. BMO Capital Markets cut their price objective on shares of MSC Industrial Direct from $98.00 to $87.00 and set a market perform rating on the stock in a report on Friday, July 14th. Susquehanna Bancshares Inc assumed coverage on shares of MSC Industrial Direct in a report on Monday, September 25th. They set a neutral rating and a $77.00 price objective on the stock. KeyCorp restated a hold rating on shares of MSC Industrial Direct in a report on Tuesday, October 17th. Finally, Zacks Investment Research downgraded shares of MSC Industrial Direct from a buy rating to a hold rating in a report on Friday, July 14th. Two equities 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’s stock. The company has an average rating of Hold and a consensus target price of $89.29.
MSC Industrial Direct (NYSE MSM) traded up $1.16 on Friday, hitting $81.96. 277,575 shares of the stock traded hands, compared to its average volume of 644,433. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.80 and a quick ratio of 0.98. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of 20.38, a P/E/G ratio of 1.61 and a beta of 0.64.
MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.08. MSC Industrial Direct had a net margin of 8.01% and a return on equity of 19.42%. The firm had revenue of $753.80 million for the quarter, compared to the consensus estimate of $745.80 million. During the same quarter in the prior year, the company posted $1.02 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. sell-side analysts forecast that MSC Industrial Direct will post 4.44 earnings per share for the current fiscal year.
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The firm 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. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.45. The ex-dividend date is Monday, November 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.34%. MSC Industrial Direct’s dividend payout ratio (DPR) is 44.55%.
In other news, Director Mitchell Jacobson sold 33,866 shares of the 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 in the company, valued at approximately $2,960,437.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 31.28% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Alpha Windward LLC purchased a new position in MSC Industrial Direct in the 3rd quarter valued at $521,000. Brookstone Capital Management purchased a new position in MSC Industrial Direct in the 2nd quarter valued at $281,000. Alliancebernstein L.P. lifted its holdings 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 purchasing an additional 1,048,714 shares in the last quarter. Oak Ridge Investments LLC lifted its holdings 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 purchasing an additional 4,035 shares in the last quarter. Finally, Westpac Banking Corp lifted its holdings 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 purchasing an additional 4,700 shares in the last quarter. Institutional investors own 74.70% of the company’s stock.
About MSC Industrial Direct
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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