Stifel Nicolaus reissued their hold rating on shares of MSC Industrial Direct Co Inc (NYSE:MSM) in a research note released on Friday, July 14th. The firm currently has a $78.00 price target on the industrial products company’s stock, down from their previous price target of $88.00.
Several other research firms also recently weighed in on MSM. KeyCorp reaffirmed a sector weight rating on shares of MSC Industrial Direct Co in a research note on Tuesday, April 4th. Barclays PLC reaffirmed a sell rating and set a $85.00 price objective on shares of MSC Industrial Direct Co in a research note on Friday, April 7th. Zacks Investment Research raised MSC Industrial Direct Co from a hold rating to a buy rating and set a $108.00 price objective for the company in a research note on Saturday, April 8th. BidaskClub raised MSC Industrial Direct Co from a strong sell rating to a sell rating in a research note on Wednesday, July 5th. Finally, Credit Suisse Group raised MSC Industrial Direct Co from a neutral rating to an outperform rating and upped their price objective for the company from $92.00 to $100.00 in a research note on Wednesday, April 19th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the stock. MSC Industrial Direct Co has a consensus rating of Hold and a consensus price target of $90.85.
Shares of MSC Industrial Direct Co (NYSE:MSM) opened at 69.73 on Friday. The company’s 50 day moving average price is $76.76 and its 200-day moving average price is $90.34. MSC Industrial Direct Co has a 52 week low of $68.43 and a 52 week high of $105.70. The stock has a market capitalization of $3.97 billion, a PE ratio of 17.39 and a beta of 0.50.
MSC Industrial Direct Co (NYSE:MSM) last released its quarterly earnings data on Wednesday, July 12th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.09. The business had revenue of $743.90 million during the quarter, compared to analysts’ expectations of $744.49 million. MSC Industrial Direct Co had a return on equity of 20.92% and a net margin of 8.45%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.05 EPS. Equities research analysts predict that MSC Industrial Direct Co will post $3.98 EPS for the current year.
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The company also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Tuesday, July 18th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date was Friday, July 14th. MSC Industrial Direct Co’s dividend payout ratio is currently 45.11%.
In related news, Director Philip Peller bought 1,000 shares of the stock in a transaction on Wednesday, July 19th. The shares were purchased at an average price of $72.00 per share, for a total transaction of $72,000.00. Following the acquisition, the director now owns 2,422 shares in the company, valued at $174,384. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 31.28% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in shares of MSC Industrial Direct Co during the fourth quarter worth $41,201,000. Quadrature Capital Ltd acquired a new position in shares of MSC Industrial Direct Co during the fourth quarter worth $2,359,000. UBS Asset Management Americas Inc. raised its position in shares of MSC Industrial Direct Co by 66.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 69,076 shares of the industrial products company’s stock worth $6,381,000 after buying an additional 27,553 shares in the last quarter. Leith Wheeler Investment Counsel Ltd. acquired a new position in shares of MSC Industrial Direct Co during the first quarter worth $1,120,000. Finally, Confluence Investment Management LLC raised its position in shares of MSC Industrial Direct Co by 3.8% in the first quarter. Confluence Investment Management LLC now owns 200,039 shares of the industrial products company’s stock worth $20,556,000 after buying an additional 7,293 shares in the last quarter. 76.83% of the stock is currently owned by institutional investors.
About MSC Industrial Direct Co
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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