MSC Industrial Direct (NYSE:MSM) Price Target Increased to $91.00 by Analysts at Robert W. Baird

MSC Industrial Direct (NYSE:MSM) had its price objective hoisted by Robert W. Baird from $84.00 to $91.00 in a research report released on Wednesday morning, Benzinga reports. Robert W. Baird currently has a neutral rating on the industrial products company’s stock.

Several other research analysts have also issued reports on MSM. JPMorgan Chase & Co. decreased their target price on MSC Industrial Direct from $81.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Loop Capital reduced their target price on shares of MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $91.60.

MSC Industrial Direct Stock Performance

NYSE:MSM opened at $82.68 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 2.01 and a debt-to-equity ratio of 0.21. MSC Industrial Direct has a twelve month low of $75.05 and a twelve month high of $105.77. The stock has a market cap of $4.64 billion, a P/E ratio of 16.05 and a beta of 0.86. The firm’s fifty day simple moving average is $81.84 and its 200 day simple moving average is $84.97.

MSC Industrial Direct Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 4.11%. The ex-dividend date is Wednesday, November 13th. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.83. MSC Industrial Direct’s dividend payout ratio is currently 66.02%.

Institutional Trading of MSC Industrial Direct

Institutional investors and hedge funds have recently modified their holdings of the business. Entropy Technologies LP bought a new position in MSC Industrial Direct during the first quarter valued at approximately $775,000. Mitsubishi UFJ Trust & Banking Corp increased its stake 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 worth $2,142,000 after buying an additional 14,451 shares in the last quarter. Swedbank AB bought a new stake in MSC Industrial Direct during the first quarter valued at about $16,571,000. Sei Investments Co. lifted its holdings in MSC Industrial Direct by 7.4% in the 1st quarter. Sei Investments Co. now owns 130,123 shares of the industrial products company’s stock worth $12,627,000 after purchasing an additional 8,971 shares in the last quarter. Finally, Capstone Investment Advisors LLC purchased a new position in shares of MSC Industrial Direct in the first quarter worth $1,253,000. Institutional investors own 79.26% of the company’s stock.

MSC Industrial Direct Company Profile

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.