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

MSC Industrial Direct Co., Inc. (NYSE:MSM) has earned an average rating of “Hold” from the six ratings firms that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $90.20.

A number of equities research analysts have commented on the stock. Baird R W cut shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 29th. Stephens reaffirmed an “overweight” rating and issued a $110.00 target price on shares of MSC Industrial Direct in a research report on Friday, June 14th. Robert W. Baird cut their price target on MSC Industrial Direct from $95.00 to $84.00 and set a “neutral” rating on the stock in a report on Friday, June 14th. StockNews.com cut MSC Industrial Direct from a “buy” rating to a “hold” rating in a research note on Saturday, June 8th. Finally, Loop Capital lowered their target price on 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.

Insider Activity

In other MSC Industrial Direct news, SVP Kimberly Shacklett sold 4,885 shares of MSC Industrial Direct stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $84.60, for a total transaction of $413,271.00. Following the transaction, the senior vice president now directly owns 12,897 shares of the company’s stock, valued at approximately $1,091,086.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 18.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MSM. American Century Companies Inc. lifted its holdings in MSC Industrial Direct by 85.1% during the second quarter. American Century Companies Inc. now owns 2,733,228 shares of the industrial products company’s stock worth $216,772,000 after acquiring an additional 1,256,706 shares during the period. Norges Bank bought a new stake in shares of MSC Industrial Direct during the 4th quarter worth $56,088,000. Hennessy Advisors Inc. bought a new stake in shares of MSC Industrial Direct during the 4th quarter worth $21,649,000. Swedbank AB purchased a new position in shares of MSC Industrial Direct in the 1st quarter worth about $16,571,000. Finally, Allspring Global Investments Holdings LLC grew its position in MSC Industrial Direct by 804.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 173,653 shares of the industrial products company’s stock valued at $13,772,000 after buying an additional 154,454 shares during the period. 79.26% of the stock is owned by institutional investors.

MSC Industrial Direct Stock Up 0.5 %

Shares of MSC Industrial Direct stock opened at $80.93 on Friday. The stock’s 50-day moving average is $81.16 and its 200 day moving average is $89.80. MSC Industrial Direct has a one year low of $75.05 and a one year high of $105.77. The firm has a market cap of $4.54 billion, a price-to-earnings ratio of 15.71 and a beta of 0.88. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.01 and a quick ratio of 0.92.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings results on Tuesday, July 2nd. The industrial products company reported $1.33 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.33. The firm had revenue of $979.40 million for the quarter, compared to analysts’ expectations of $979.10 million. MSC Industrial Direct had a return on equity of 21.31% and a net margin of 7.44%. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.74 EPS. Equities research analysts anticipate that MSC Industrial Direct will post 4.84 EPS for the current year.

MSC Industrial Direct Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Tuesday, July 9th were paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 4.10%. The ex-dividend date was Tuesday, July 9th. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 64.47%.

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.