MSC Industrial Direct Company, Inc. (NYSE:MSM) Given Average Rating of “Hold” by Brokerages

Shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) have received an average recommendation of “Hold” from the nine research firms that are presently covering the firm, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $89.6667.

Several research analysts have recently issued reports on the stock. Jefferies Financial Group restated a “hold” rating and issued a $85.00 target price on shares of MSC Industrial Direct in a report on Thursday, January 8th. Wall Street Zen downgraded MSC Industrial Direct from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Robert W. Baird set a $94.00 price target on MSC Industrial Direct in a research note on Thursday, January 8th. JPMorgan Chase & Co. boosted their target price on shares of MSC Industrial Direct from $93.00 to $96.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Finally, KeyCorp reiterated a “sector weight” rating on shares of MSC Industrial Direct in a research note on Thursday, January 8th.

Insider Activity

In related news, Director Philip Peller bought 6,666 shares of the business’s stock in a transaction dated Thursday, November 13th. The shares were purchased at an average price of $90.14 per share, with a total value of $600,873.24. Following the transaction, the director owned 9,537 shares in the company, valued at $859,665.18. This trade represents a 232.18% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mitchell Jacobson bought 22,870 shares of MSC Industrial Direct stock in a transaction dated Tuesday, November 18th. The stock was purchased at an average cost of $84.96 per share, for a total transaction of $1,943,035.20. Following the purchase, the director 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 position. The disclosure for this purchase is available in the SEC filing. 19.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MSC Industrial Direct

Hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC acquired a new stake in shares of MSC Industrial Direct in the 2nd quarter valued at $1,352,000. Arjuna Capital purchased a new position in MSC Industrial Direct in the third quarter valued at $4,274,000. Norges Bank acquired a new stake in MSC Industrial Direct in the second quarter valued at $39,950,000. JPMorgan Chase & Co. lifted its holdings in MSC Industrial Direct by 6.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 250,401 shares of the industrial products company’s stock worth $21,289,000 after buying an additional 14,107 shares during the last quarter. Finally, Synergy Asset Management LLC lifted its holdings in MSC Industrial Direct by 100.0% during the 3rd quarter. Synergy Asset Management LLC now owns 48,636 shares of the industrial products company’s stock worth $4,135,000 after buying an additional 24,318 shares during the last quarter. 79.26% of the stock is currently owned by institutional investors.

MSC Industrial Direct Stock Performance

NYSE:MSM opened at $94.88 on Friday. The business’s fifty day moving average is $85.73 and its 200 day moving average is $87.46. MSC Industrial Direct has a 52-week low of $68.10 and a 52-week high of $95.60. The firm has a market cap of $5.29 billion, a price-to-earnings ratio of 25.92 and a beta of 0.84. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.82 and a current ratio of 1.73.

MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings data on Wednesday, January 7th. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $965.68 million for the quarter, compared to the consensus estimate of $962.52 million. During the same quarter last year, the business posted $0.86 earnings per share. The firm’s revenue was up 4.0% compared to the same quarter last year. Research analysts predict that MSC Industrial Direct will post 3.57 EPS for the current year.

MSC Industrial Direct Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 28th. Investors of record on Wednesday, January 14th were issued 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 yield of 3.7%. MSC Industrial Direct’s payout ratio is currently 95.08%.

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.