Brokerages Set MSC Industrial Direct Co., Inc. (NYSE:MSM) Price Target at $90.20

MSC Industrial Direct Co., Inc. (NYSE:MSM) has received an average rating of “Hold” from the six ratings firms that are covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $90.20.

Several equities research analysts recently issued reports on the stock. Robert W. Baird raised their price objective on shares of MSC Industrial Direct from $84.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. cut their price target on shares of MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating for the company in a report on Friday, October 25th.

MSC Industrial Direct Trading Down 2.8 %

Shares of MSC Industrial Direct stock opened at $83.07 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.96 and a quick ratio of 0.90. The stock’s 50 day simple moving average is $83.07 and its 200-day simple moving average is $83.47. The stock has a market cap of $4.64 billion, a P/E ratio of 18.14 and a beta of 0.87. MSC Industrial Direct has a 1-year low of $75.05 and a 1-year high of $104.76.

MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings data on Thursday, October 24th. The industrial products company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.05). MSC Industrial Direct had a return on equity of 19.35% and a net margin of 6.77%. The company had revenue of $952.30 million for the quarter, compared to analyst estimates of $959.74 million. During the same period last year, the firm posted $1.64 EPS. The business’s quarterly revenue was down 8.0% on a year-over-year basis. Analysts predict that MSC Industrial Direct will post 3.65 EPS for the current fiscal year.

MSC Industrial Direct Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 4.09%. The ex-dividend date of this dividend is Wednesday, November 13th. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.83. MSC Industrial Direct’s dividend payout ratio (DPR) is 74.24%.

Insider Buying and Selling at MSC Industrial Direct

In related news, CEO Erik Gershwind sold 50,000 shares of MSC Industrial Direct stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $90.36, for a total value of $4,518,000.00. Following the completion of the sale, the chief executive officer now owns 1,402,849 shares in the company, valued at approximately $126,761,435.64. This trade represents a 3.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Philip Peller sold 900 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $89.07, for a total value of $80,163.00. Following the completion of the sale, the director now directly owns 4,044 shares in the company, valued at approximately $360,199.08. The trade was a 18.20 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 18.80% of the company’s stock.

Hedge Funds Weigh In On MSC Industrial Direct

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Entropy Technologies LP acquired a new stake in shares of MSC Industrial Direct during the first quarter worth about $775,000. Mitsubishi UFJ Trust & Banking Corp boosted its position in MSC Industrial Direct by 183.6% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 22,323 shares of the industrial products company’s stock valued at $2,142,000 after buying an additional 14,451 shares during the period. Swedbank AB acquired a new position in shares of MSC Industrial Direct in the first quarter worth $16,571,000. Sei Investments Co. increased its position in shares of MSC Industrial Direct by 7.4% during the first quarter. Sei Investments Co. now owns 130,123 shares of the industrial products company’s stock worth $12,627,000 after acquiring an additional 8,971 shares during the period. Finally, Meeder Asset Management Inc. raised its stake in shares of MSC Industrial Direct by 9.0% in the first quarter. Meeder Asset Management Inc. now owns 81,487 shares of the industrial products company’s stock valued at $7,907,000 after acquiring an additional 6,711 shares in the last quarter. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

About MSC Industrial Direct

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.