KeyCorp Weighs in on MSC Industrial Direct Co., Inc.’s Q3 2024 Earnings (NYSE:MSM)

MSC Industrial Direct Co., Inc. (NYSE:MSM) – Equities research analysts at KeyCorp reduced their Q3 2024 earnings per share estimates for shares of MSC Industrial Direct in a report issued on Sunday, June 16th. KeyCorp analyst K. Newman now expects that the industrial products company will post earnings of $1.32 per share for the quarter, down from their prior estimate of $1.66. KeyCorp currently has a “Sector Weight” rating on the stock. The consensus estimate for MSC Industrial Direct’s current full-year earnings is $5.52 per share. KeyCorp also issued estimates for MSC Industrial Direct’s Q4 2024 earnings at $1.11 EPS, FY2024 earnings at $4.87 EPS, Q4 2025 earnings at $1.44 EPS and FY2025 earnings at $5.35 EPS.

Several other equities analysts have also recently issued reports on MSM. Baird R W cut MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 29th. Stephens reiterated an “overweight” rating and set a $110.00 price target on shares of MSC Industrial Direct in a research report on Friday, June 14th. Robert W. Baird decreased their price target on shares of MSC Industrial Direct from $95.00 to $84.00 and set a “neutral” rating on the stock in a research note on Friday, June 14th. Loop Capital downgraded shares of MSC Industrial Direct from a “buy” rating to a “hold” rating and set a $80.00 price objective for the company. in a report on Monday. Finally, StockNews.com lowered shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a research note on Saturday, June 8th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, MSC Industrial Direct has a consensus rating of “Hold” and an average price target of $93.00.

MSC Industrial Direct Trading Up 0.9 %

MSC Industrial Direct stock opened at $79.45 on Wednesday. The stock has a 50-day moving average of $89.27 and a two-hundred day moving average of $95.18. The stock has a market cap of $4.47 billion, a PE ratio of 14.26 and a beta of 0.89. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.92 and a current ratio of 2.01. MSC Industrial Direct has a one year low of $75.05 and a one year high of $105.77.

MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings data on Thursday, March 28th. The industrial products company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.02. The company had revenue of $935.30 million during the quarter, compared to analysts’ expectations of $946.55 million. MSC Industrial Direct had a net margin of 7.89% and a return on equity of 22.58%. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.45 EPS.

Institutional Trading of MSC Industrial Direct

Several hedge funds have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale increased its holdings in MSC Industrial Direct by 68.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 157,252 shares of the industrial products company’s stock valued at $15,458,000 after buying an additional 63,955 shares during the last quarter. Swedbank AB acquired a new stake in shares of MSC Industrial Direct in the 1st quarter valued at about $16,571,000. Tidal Investments LLC grew its stake in MSC Industrial Direct by 50.5% during the 1st quarter. Tidal Investments LLC now owns 25,630 shares of the industrial products company’s stock worth $2,487,000 after buying an additional 8,604 shares during the last quarter. Bayesian Capital Management LP purchased a new stake in MSC Industrial Direct in the first quarter valued at approximately $258,000. Finally, Paloma Partners Management Co purchased a new position in shares of MSC Industrial Direct during the first quarter worth approximately $256,000. Institutional investors and hedge funds own 79.26% of the company’s stock.

MSC Industrial Direct Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 23rd. Shareholders of record on Tuesday, April 9th were issued a dividend of $0.83 per share. The ex-dividend date was Monday, April 8th. This represents a $3.32 dividend on an annualized basis and a yield of 4.18%. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 59.61%.

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.