Analysts Set MSC Industrial Direct Company, Inc. (NYSE:MSM) Price Target at $89.67

Shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) have been given a consensus recommendation of “Hold” by the nine ratings firms that are presently covering the stock, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold rating. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $90.50.

A number of equities research analysts have recently commented on the stock. KeyCorp reiterated a “sector weight” rating on shares of MSC Industrial Direct in a research report on Thursday, January 8th. iA Financial set a $95.00 price objective on shares of MSC Industrial Direct in a report on Friday. Zacks Research cut MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 3rd. Weiss Ratings restated a “hold (c)” rating on shares of MSC Industrial Direct in a research report on Wednesday, January 28th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $95.00 price target on shares of MSC Industrial Direct in a report on Friday, February 6th.

MSC Industrial Direct Stock Performance

NYSE MSM opened at $94.35 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.73 and a quick ratio of 0.82. The stock’s 50 day simple moving average is $86.19 and its 200-day simple moving average is $87.62. The company has a market cap of $5.26 billion, a PE ratio of 25.78 and a beta of 0.84. MSC Industrial Direct has a 1-year low of $68.10 and a 1-year high of $96.50.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data on Wednesday, January 7th. The industrial products company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.95 by $0.04. MSC Industrial Direct had a return on equity of 15.73% and a net margin of 5.37%.The firm had revenue of $965.68 million during the quarter, compared to the consensus estimate of $962.52 million. During the same period in the prior year, the company earned $0.86 EPS. The firm’s revenue was up 4.0% compared to the same quarter last year. As a group, equities research analysts anticipate that MSC Industrial Direct will post 3.57 EPS for the current fiscal year.

MSC Industrial Direct Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 28th. Shareholders of record on Wednesday, January 14th were paid a $0.87 dividend. The ex-dividend date of this dividend was Wednesday, January 14th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.7%. MSC Industrial Direct’s dividend payout ratio (DPR) is 95.08%.

Insider Activity

In other news, Director Mitchell Jacobson bought 22,870 shares of MSC Industrial Direct stock in a transaction on Tuesday, November 18th. The shares were bought at an average cost of $84.96 per share, with a total value of $1,943,035.20. Following the completion of the purchase, the director directly owned 2,328,192 shares of the company’s stock, valued at approximately $197,803,192.32. This trade represents a 0.99% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Philip Peller purchased 6,666 shares of the company’s stock in a transaction dated Thursday, November 13th. The stock was purchased at an average cost of $90.14 per share, with a total value of $600,873.24. Following the purchase, the director owned 9,537 shares in the company, valued at approximately $859,665.18. This trade represents a 232.18% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 19.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Quent Capital LLC acquired a new stake in MSC Industrial Direct during the third quarter worth $31,000. Hantz Financial Services Inc. grew its holdings in shares of MSC Industrial Direct by 257.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 361 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 260 shares during the period. Quarry LP increased its position in shares of MSC Industrial Direct by 71.7% during the 3rd quarter. Quarry LP now owns 503 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 210 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in MSC Industrial Direct by 130.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 576 shares of the industrial products company’s stock valued at $49,000 after buying an additional 326 shares during the period. Finally, First Horizon Advisors Inc. raised its holdings in MSC Industrial Direct by 52.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 595 shares of the industrial products company’s stock valued at $51,000 after buying an additional 204 shares during the period. 79.26% of the stock is currently owned by institutional investors and hedge funds.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc (NYSE: MSM) is a leading distributor of metalworking and maintenance, repair and operations (MRO) products serving a broad range of industrial customers across North America. The company offers an extensive portfolio of cutting tools, abrasives, measuring and inspection instruments, fasteners, safety supplies and other essential components used in manufacturing, metalworking and production environments. MSC delivers products through a multi-channel distribution network, including an extensive branch system, e-commerce platform and dedicated sales force.

In addition to its core product offerings, MSC Industrial Direct provides value-added services designed to improve productivity and reduce downtime for its customers.