Wells Fargo & Co set a $60.00 price target on MSC Industrial Direct (NYSE:MSM) in a research report sent to investors on Friday, TipRanks reports. The firm currently has a sell rating on the industrial products company’s stock.
Several other brokerages also recently commented on MSM. JPMorgan Chase & Co. lifted their target price on MSC Industrial Direct from $78.00 to $79.00 and gave the stock a neutral rating in a research note on Thursday, October 10th. Zacks Investment Research upgraded MSC Industrial Direct from a sell rating to a hold rating in a research note on Tuesday, October 22nd. Northcoast Research cut MSC Industrial Direct from a buy rating to a neutral rating and dropped their price target for the stock from $89.00 to $74.00 in a report on Friday, July 12th. Raymond James cut MSC Industrial Direct from an outperform rating to a market perform rating in a report on Thursday, September 12th. Finally, ValuEngine raised MSC Industrial Direct from a sell rating to a hold rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company’s stock. MSC Industrial Direct has an average rating of Hold and an average price target of $78.10.
Shares of NYSE MSM traded down $0.70 during midday trading on Friday, hitting $74.84. 505,988 shares of the company’s stock were exchanged, compared to its average volume of 442,579. The company has a quick ratio of 1.35, a current ratio of 2.68 and a debt-to-equity ratio of 0.18. MSC Industrial Direct has a 12 month low of $64.59 and a 12 month high of $90.25. The company’s 50 day moving average price is $70.96 and its 200 day moving average price is $72.92. The firm has a market capitalization of $4.17 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 1.14 and a beta of 0.91.
MSC Industrial Direct (NYSE:MSM) last issued its earnings results on Thursday, October 24th. The industrial products company reported $1.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.23 by $0.07. MSC Industrial Direct had a return on equity of 20.63% and a net margin of 8.59%. The company had revenue of $842.70 million during the quarter, compared to the consensus estimate of $837.97 million. During the same period in the previous year, the company posted $1.29 EPS. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. On average, equities research analysts anticipate that MSC Industrial Direct will post 5.13 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.00 annualized dividend and a yield of 4.01%. MSC Industrial Direct’s payout ratio is currently 56.71%.
A number of large investors have recently added to or reduced their stakes in the stock. Paradice Investment Management LLC raised its holdings in MSC Industrial Direct by 23.7% in the 2nd quarter. Paradice Investment Management LLC now owns 724,838 shares of the industrial products company’s stock valued at $53,826,000 after acquiring an additional 138,639 shares in the last quarter. Hamlin Capital Management LLC acquired a new position in MSC Industrial Direct in the 2nd quarter valued at $52,364,000. Fiduciary Management Inc. WI raised its holdings in MSC Industrial Direct by 47.2% in the 2nd quarter. Fiduciary Management Inc. WI now owns 671,263 shares of the industrial products company’s stock valued at $49,848,000 after acquiring an additional 215,238 shares in the last quarter. First Trust Advisors LP raised its holdings in MSC Industrial Direct by 24.8% in the 2nd quarter. First Trust Advisors LP now owns 601,955 shares of the industrial products company’s stock valued at $44,701,000 after acquiring an additional 119,606 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in MSC Industrial Direct by 2.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 451,184 shares of the industrial products company’s stock valued at $33,505,000 after acquiring an additional 12,029 shares in the last quarter. 75.32% of the stock is owned by institutional investors and hedge funds.
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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