MSC Industrial Direct (NYSE:MSM) Given New $74.00 Price Target at Loop Capital

MSC Industrial Direct (NYSE:MSM) had its price objective reduced by Loop Capital from $83.00 to $74.00 in a research note released on Friday,Benzinga reports. They currently have a hold rating on the industrial products company’s stock.

A number of other research firms also recently weighed in on MSM. Robert W. Baird cut their price target on shares of MSC Industrial Direct from $90.00 to $84.00 and set a “neutral” rating on the stock in a report on Friday. Wolfe Research began coverage on MSC Industrial Direct in a research report on Thursday, January 16th. They issued an “outperform” rating and a $95.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $82.20.

MSC Industrial Direct Stock Down 5.3 %

Shares of MSC Industrial Direct stock opened at $71.19 on Friday. The company has a current ratio of 1.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. MSC Industrial Direct has a 1 year low of $70.13 and a 1 year high of $96.13. The stock has a 50-day moving average price of $79.50 and a 200 day moving average price of $81.35. The company has a market cap of $3.98 billion, a P/E ratio of 16.99 and a beta of 0.89.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings data on Thursday, April 3rd. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.04. The business had revenue of $891.70 million during the quarter, compared to analyst estimates of $908.30 million. MSC Industrial Direct had a return on equity of 17.80% and a net margin of 6.21%. MSC Industrial Direct’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period last year, the company earned $1.18 earnings per share. As a group, analysts expect that MSC Industrial Direct will post 3.57 EPS for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date is Wednesday, April 9th. MSC Industrial Direct’s dividend payout ratio (DPR) is 81.15%.

Hedge Funds Weigh In On MSC Industrial Direct

Institutional investors have recently made changes to their positions in the business. Cerity Partners LLC increased its position in MSC Industrial Direct by 24.3% in the 3rd quarter. Cerity Partners LLC now owns 5,595 shares of the industrial products company’s stock worth $482,000 after buying an additional 1,092 shares during the period. BNP Paribas Financial Markets boosted its holdings in MSC Industrial Direct by 43.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 18,371 shares of the industrial products company’s stock valued at $1,581,000 after purchasing an additional 5,563 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in MSC Industrial Direct by 29.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,820 shares of the industrial products company’s stock worth $1,017,000 after purchasing an additional 2,717 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of MSC Industrial Direct by 16.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 231,146 shares of the industrial products company’s stock worth $19,892,000 after purchasing an additional 32,013 shares during the period. Finally, Captrust Financial Advisors raised its position in shares of MSC Industrial Direct by 26.9% during the third quarter. Captrust Financial Advisors now owns 25,234 shares of the industrial products company’s stock valued at $2,172,000 after buying an additional 5,346 shares during the last quarter. 79.26% of the stock is currently owned by 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.