Brokerages Set MSC Industrial Direct Co., Inc. (NYSE:MSM) Target Price at $91.60

Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) have received an average recommendation of “Hold” from the six ratings firms that are presently covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $91.60.

Several research firms recently commented on MSM. Robert W. Baird upped their price target on shares of MSC Industrial Direct from $84.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday. Loop Capital decreased their price target on shares of MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. decreased their price target on shares of MSC Industrial Direct from $81.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd.

MSC Industrial Direct Trading Up 0.2 %

MSM stock opened at $84.20 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.92 and a current ratio of 2.01. The company’s 50-day simple moving average is $81.98 and its 200 day simple moving average is $84.88. MSC Industrial Direct has a 52 week low of $75.05 and a 52 week high of $104.76. The company has a market capitalization of $4.73 billion, a PE ratio of 16.35 and a beta of 0.86.

MSC Industrial Direct Increases Dividend

The firm also recently declared 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 is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $3.40 annualized dividend and a dividend yield of 4.04%. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 66.02%.

Hedge Funds Weigh In On MSC Industrial Direct

Several hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC increased its stake in shares of MSC Industrial Direct by 30.0% in the 1st quarter. GAMMA Investing LLC now owns 528 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 122 shares during the last quarter. Quent Capital LLC grew its position in MSC Industrial Direct by 57.0% during the 3rd quarter. Quent Capital LLC now owns 372 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 135 shares during the last quarter. Rockland Trust Co. grew its position in MSC Industrial Direct by 2.0% during the 1st quarter. Rockland Trust Co. now owns 10,471 shares of the industrial products company’s stock worth $1,016,000 after acquiring an additional 207 shares during the last quarter. Arizona State Retirement System grew its position in MSC Industrial Direct by 1.7% during the 2nd quarter. Arizona State Retirement System now owns 12,609 shares of the industrial products company’s stock worth $1,000,000 after acquiring an additional 209 shares during the last quarter. Finally, UMB Bank n.a. grew its position in MSC Industrial Direct by 442.1% during the 3rd quarter. UMB Bank n.a. now owns 309 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 252 shares during the last quarter. 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.