MSC Industrial Direct (NYSE:MSM) Lowered to Neutral at Northcoast Research

Northcoast Research cut shares of MSC Industrial Direct (NYSE:MSM) from a buy rating to a neutral rating in a research note issued to investors on Friday, BenzingaRatingsTable reports. Northcoast Research currently has $74.00 price objective on the industrial products company’s stock, down from their prior price objective of $89.00. Northcoast Research also issued estimates for MSC Industrial Direct’s Q4 2019 earnings at $1.27 EPS, FY2019 earnings at $5.27 EPS, Q1 2020 earnings at $1.31 EPS, Q2 2020 earnings at $1.22 EPS and Q4 2020 earnings at $1.42 EPS.

A number of other research firms have also recently issued reports on MSM. BMO Capital Markets reduced their target price on shares of MSC Industrial Direct from $90.00 to $86.00 and set a market perform rating for the company in a research note on Thursday, April 11th. Robert W. Baird lifted their target price on shares of Atlassian from $110.00 to $120.00 and gave the company an outperform rating in a research note on Thursday, April 11th. Buckingham Research reduced their target price on shares of PJT Partners from $49.00 to $42.00 and set a neutral rating for the company in a research note on Thursday, July 11th. William Blair reiterated a market perform rating on shares of Luminex in a research note on Tuesday, May 7th. Finally, Wells Fargo & Co set a $33.00 target price on shares of Matador Resources and gave the company a hold rating in a research note on Thursday, July 11th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $80.70.

MSC Industrial Direct stock opened at $72.13 on Friday. The stock has a 50 day moving average price of $72.39. The stock has a market capitalization of $4.00 billion, a P/E ratio of 14.20, a P/E/G ratio of 1.36 and a beta of 0.95. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.35 and a current ratio of 2.50. MSC Industrial Direct has a fifty-two week low of $67.25 and a fifty-two week high of $90.25.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings data on Wednesday, July 10th. The industrial products company reported $1.45 EPS for the quarter, missing the Zacks’ consensus estimate of $1.50 by ($0.05). MSC Industrial Direct had a net margin of 8.79% and a return on equity of 21.08%. The company had revenue of $866.50 million for the quarter, compared to analysts’ expectations of $881.62 million. During the same period in the previous year, the firm posted $1.39 earnings per share. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, research analysts predict that MSC Industrial Direct will post 5.33 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 6th. Stockholders of record on Tuesday, July 23rd will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.16%. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Monday, July 22nd. MSC Industrial Direct’s payout ratio is presently 49.61%.

In other news, EVP Steven N. Baruch sold 5,404 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $82.00, for a total value of $443,128.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Douglas E. Jones sold 2,126 shares of the business’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $83.50, for a total transaction of $177,521.00. Following the completion of the sale, the executive vice president now owns 7,496 shares of the company’s stock, valued at $625,916. The disclosure for this sale can be found here. 27.96% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of MSM. LPL Financial LLC increased its position in MSC Industrial Direct by 2.0% during the fourth quarter. LPL Financial LLC now owns 6,381 shares of the industrial products company’s stock worth $491,000 after acquiring an additional 128 shares during the period. ETF Managers Group LLC increased its position in MSC Industrial Direct by 9.8% during the first quarter. ETF Managers Group LLC now owns 1,592 shares of the industrial products company’s stock worth $132,000 after acquiring an additional 142 shares during the period. Lowe Brockenbrough & Co. Inc. increased its position in MSC Industrial Direct by 1.3% during the first quarter. Lowe Brockenbrough & Co. Inc. now owns 11,360 shares of the industrial products company’s stock worth $940,000 after acquiring an additional 147 shares during the period. BOKF NA increased its position in MSC Industrial Direct by 3.1% during the fourth quarter. BOKF NA now owns 6,814 shares of the industrial products company’s stock worth $524,000 after acquiring an additional 204 shares during the period. Finally, Mason Street Advisors LLC increased its position in MSC Industrial Direct by 0.9% during the first quarter. Mason Street Advisors LLC now owns 24,008 shares of the industrial products company’s stock worth $1,986,000 after acquiring an additional 224 shares during the period. Institutional investors and hedge funds own 76.01% of the company’s stock.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products in the United States, Canada, and the United Kingdom. The company's MRO products comprise cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock products, 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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Analyst Recommendations for MSC Industrial Direct (NYSE:MSM)

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