MSC Industrial Direct Co Inc (MSM) Receives $90.38 Average PT from Brokerages

MSC Industrial Direct Co Inc (NYSE:MSM) has earned an average recommendation of “Hold” from the fifteen research firms that are presently covering the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $94.78.

A number of brokerages have recently commented on MSM. Raymond James Financial, Inc. raised shares of MSC Industrial Direct Co from a “market perform” rating to a “buy” rating and set a $103.00 target price on the stock in a research note on Wednesday. BMO Capital Markets reaffirmed a “hold” rating and set a $98.00 price target on shares of MSC Industrial Direct Co in a research note on Thursday, February 23rd. Credit Suisse Group AG raised shares of MSC Industrial Direct Co from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $92.00 to $100.00 in a research note on Wednesday. Barclays PLC reaffirmed a “sell” rating and set a $85.00 price target on shares of MSC Industrial Direct Co in a research note on Friday, April 7th. Finally, Stifel Nicolaus dropped their price target on shares of MSC Industrial Direct Co from $104.00 to $89.00 and set a “hold” rating on the stock in a research note on Thursday, January 12th.

MSC Industrial Direct Co (NYSE:MSM) traded up 0.37% on Tuesday, hitting $88.95. The stock had a trading volume of 206,493 shares. MSC Industrial Direct Co has a 12 month low of $67.74 and a 12 month high of $105.70. The stock has a market cap of $5.06 billion, a PE ratio of 22.39 and a beta of 0.56. The firm’s 50 day moving average price is $99.02 and its 200-day moving average price is $92.03.

MSC Industrial Direct Co (NYSE:MSM) last issued its earnings results on Thursday, April 6th. The industrial products company reported $0.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.03. MSC Industrial Direct Co had a net margin of 8.10% and a return on equity of 18.33%. The business had revenue of $703.78 million for the quarter, compared to the consensus estimate of $697.85 million. During the same quarter last year, the firm posted $0.80 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, analysts forecast that MSC Industrial Direct Co will post $3.98 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 2nd. Stockholders of record on Tuesday, April 18th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Thursday, April 13th. MSC Industrial Direct Co’s dividend payout ratio (DPR) is presently 47.12%.

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In related news, SVP Christopher Davanzo sold 2,942 shares of MSC Industrial Direct Co stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $105.50, for a total value of $310,381.00. Following the sale, the senior vice president now directly owns 9,447 shares in the company, valued at approximately $996,658.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Denis F. Kelly sold 998 shares of MSC Industrial Direct Co stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $100.30, for a total transaction of $100,099.40. Following the completion of the sale, the director now owns 11,198 shares in the company, valued at $1,123,159.40. The disclosure for this sale can be found here. Insiders sold a total of 44,723 shares of company stock valued at $4,650,282 over the last ninety days. Company insiders own 31.28% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in MSM. FMR LLC increased its stake in MSC Industrial Direct Co by 653.7% in the fourth quarter. FMR LLC now owns 1,781,993 shares of the industrial products company’s stock worth $164,639,000 after buying an additional 1,545,564 shares during the period. Schroder Investment Management Group increased its stake in MSC Industrial Direct Co by 24.5% in the third quarter. Schroder Investment Management Group now owns 1,390,984 shares of the industrial products company’s stock worth $102,112,000 after buying an additional 274,176 shares during the period. Poplar Forest Capital LLC increased its stake in MSC Industrial Direct Co by 2.3% in the third quarter. Poplar Forest Capital LLC now owns 700,468 shares of the industrial products company’s stock worth $51,421,000 after buying an additional 16,062 shares during the period. AQR Capital Management LLC increased its stake in MSC Industrial Direct Co by 137.3% in the fourth quarter. AQR Capital Management LLC now owns 663,824 shares of the industrial products company’s stock worth $61,331,000 after buying an additional 384,111 shares during the period. Finally, Norges Bank bought a new stake in MSC Industrial Direct Co during the fourth quarter worth approximately $41,201,000. Institutional investors own 80.99% of the company’s stock.

About MSC Industrial Direct Co

MSC Industrial Direct Co, Inc is a North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. The Company’s range of MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components and electrical supplies.

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