StockNews.com Downgrades MSC Industrial Direct (NYSE:MSM) to Hold

StockNews.com cut shares of MSC Industrial Direct (NYSE:MSMGet Rating) from a buy rating to a hold rating in a research report report published on Monday morning.

Several other equities analysts have also commented on the company. Robert W. Baird increased their price objective on MSC Industrial Direct from $103.00 to $105.00 in a research report on Thursday, March 31st. Loop Capital increased their price objective on MSC Industrial Direct from $88.00 to $93.00 in a research report on Thursday, March 31st. Zacks Investment Research upgraded MSC Industrial Direct from a sell rating to a hold rating and set a $96.00 price objective on the stock in a research report on Saturday, April 2nd. Finally, KeyCorp raised their price target on MSC Industrial Direct from $91.00 to $100.00 and gave the stock an overweight rating in a research report on Thursday, March 31st. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, MSC Industrial Direct has an average rating of Hold and a consensus price target of $101.17.

Shares of NYSE MSM opened at $81.93 on Monday. The firm has a market capitalization of $4.58 billion, a P/E ratio of 15.49 and a beta of 1.00. The company has a quick ratio of 1.27, a current ratio of 2.37 and a debt-to-equity ratio of 0.47. The stock’s 50-day simple moving average is $82.57 and its two-hundred day simple moving average is $82.61. MSC Industrial Direct has a twelve month low of $74.20 and a twelve month high of $96.23.

MSC Industrial Direct (NYSE:MSMGet Rating) last announced its quarterly earnings data on Wednesday, March 30th. The industrial products company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.23 by $0.06. The firm had revenue of $862.50 million for the quarter, compared to analyst estimates of $856.03 million. MSC Industrial Direct had a return on equity of 24.70% and a net margin of 8.70%. The company’s revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.03 EPS. As a group, research analysts anticipate that MSC Industrial Direct will post 6.02 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 26th. Investors of record on Tuesday, April 12th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, April 11th. This represents a $3.00 annualized dividend and a yield of 3.66%. MSC Industrial Direct’s payout ratio is 56.71%.

In other MSC Industrial Direct news, EVP Douglas E. Jones sold 31,635 shares of the stock in a transaction that occurred on Thursday, March 31st. The stock was sold at an average price of $86.00, for a total value of $2,720,610.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Louise K. Goeser sold 2,440 shares of the stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $82.47, for a total value of $201,226.80. Following the completion of the sale, the director now owns 9,763 shares of the company’s stock, valued at approximately $805,154.61. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,325 shares of company stock worth $3,629,109. 28.28% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC lifted its holdings in MSC Industrial Direct by 3.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 4,110 shares of the industrial products company’s stock worth $329,000 after buying an additional 142 shares during the period. Commerce Bank lifted its stake in shares of MSC Industrial Direct by 3.1% in the 1st quarter. Commerce Bank now owns 5,141 shares of the industrial products company’s stock valued at $438,000 after purchasing an additional 154 shares during the period. Northwest Investment Counselors LLC lifted its stake in shares of MSC Industrial Direct by 1.3% in the 1st quarter. Northwest Investment Counselors LLC now owns 14,302 shares of the industrial products company’s stock valued at $1,219,000 after purchasing an additional 177 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of MSC Industrial Direct by 3.8% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,112 shares of the industrial products company’s stock valued at $514,000 after purchasing an additional 223 shares during the period. Finally, Lincoln National Corp lifted its stake in shares of MSC Industrial Direct by 2.4% in the 1st quarter. Lincoln National Corp now owns 9,771 shares of the industrial products company’s stock valued at $833,000 after purchasing an additional 229 shares during the period. Institutional investors and hedge funds own 76.92% of the company’s stock.

About MSC Industrial Direct (Get Rating)

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products and services in the United States, Canada, Mexico, and the United Kingdom. Its MRO products include 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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