MSC Industrial Direct’s (MSM) “Overweight” Rating Reaffirmed at Stephens

Stephens reaffirmed their overweight rating on shares of MSC Industrial Direct (NYSE:MSMFree Report) in a research report report published on Monday, Benzinga reports. Stephens currently has a $110.00 price objective on the industrial products company’s stock.

Separately, KeyCorp dropped their target price on MSC Industrial Direct from $105.00 to $102.00 and set an overweight rating on the stock in a report on Wednesday, January 10th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $107.00.

View Our Latest Report on MSC Industrial Direct

MSC Industrial Direct Stock Performance

Shares of MSC Industrial Direct stock opened at $95.96 on Monday. The company has a market cap of $5.41 billion, a P/E ratio of 17.23 and a beta of 0.95. The company has a current ratio of 2.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.21. The business has a 50-day moving average price of $98.58 and a two-hundred day moving average price of $98.34. MSC Industrial Direct has a 1-year low of $83.04 and a 1-year high of $105.77.

MSC Industrial Direct (NYSE:MSMGet Free Report) last issued its quarterly earnings results on Thursday, March 28th. The industrial products company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.02. The firm had revenue of $935.30 million for the quarter, compared to analyst estimates of $946.55 million. MSC Industrial Direct had a return on equity of 22.58% and a net margin of 7.89%. The company’s revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.45 earnings per share. As a group, analysts anticipate that MSC Industrial Direct will post 5.9 EPS for the current year.

MSC Industrial Direct Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 23rd. Stockholders of record on Tuesday, April 9th will be paid a $0.83 dividend. The ex-dividend date is Monday, April 8th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.46%. MSC Industrial Direct’s payout ratio is presently 59.61%.

Insider Activity at MSC Industrial Direct

In other news, CEO Erik Gershwind sold 15,000 shares of the firm’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $96.15, for a total transaction of $1,442,250.00. Following the completion of the sale, the chief executive officer now directly owns 1,417,038 shares of the company’s stock, valued at approximately $136,248,203.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other MSC Industrial Direct news, CEO Erik Gershwind sold 15,000 shares of the business’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $96.15, for a total value of $1,442,250.00. Following the transaction, the chief executive officer now directly owns 1,417,038 shares in the company, valued at $136,248,203.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mitchell Jacobson sold 24,501 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $99.31, for a total transaction of $2,433,194.31. Following the transaction, the director now directly owns 1,683,810 shares of the company’s stock, valued at $167,219,171.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 254,503 shares of company stock valued at $24,841,663. 18.80% of the stock is owned by insiders.

Hedge Funds Weigh In On MSC Industrial Direct

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Contravisory Investment Management Inc. bought a new position in MSC Industrial Direct in the 4th quarter worth approximately $25,000. Quarry LP purchased a new position in shares of MSC Industrial Direct in the fourth quarter valued at $40,000. GAMMA Investing LLC bought a new stake in shares of MSC Industrial Direct during the 4th quarter valued at $40,000. Quent Capital LLC lifted its holdings in MSC Industrial Direct by 168.8% during the 3rd quarter. Quent Capital LLC now owns 516 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 324 shares in the last quarter. Finally, Salem Investment Counselors Inc. bought a new position in MSC Industrial Direct in the 4th quarter worth about $77,000. Institutional investors own 79.26% of the company’s stock.

About MSC Industrial Direct

(Get Free Report)

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, the United Kingdom, and internationally. The company's 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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Analyst Recommendations for MSC Industrial Direct (NYSE:MSM)

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