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

Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) have been assigned a consensus recommendation of “Hold” from the six analysts that are covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $90.20.

A number of brokerages have recently commented on MSM. JPMorgan Chase & Co. cut their price target on MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Robert W. Baird upped their price target on MSC Industrial Direct from $84.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th.

MSC Industrial Direct Price Performance

Shares of MSM stock opened at $89.60 on Friday. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of 19.56 and a beta of 0.87. MSC Industrial Direct has a 12-month low of $75.05 and a 12-month high of $104.76. The company has a quick ratio of 0.90, a current ratio of 1.96 and a debt-to-equity ratio of 0.20. The firm has a fifty day moving average of $82.64 and a 200-day moving average of $83.55.

MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings results on Thursday, October 24th. The industrial products company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.05). MSC Industrial Direct had a return on equity of 19.35% and a net margin of 6.77%. The business had revenue of $952.30 million for the quarter, compared to analyst estimates of $959.74 million. During the same period in the prior year, the business earned $1.64 EPS. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. On average, equities research analysts forecast that MSC Industrial Direct will post 3.65 earnings per share for the current year.

MSC Industrial Direct Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.79%. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, November 13th. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 72.49%.

Insiders Place Their Bets

In related news, CEO Erik Gershwind sold 50,000 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $90.36, for a total value of $4,518,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,402,849 shares of the company’s stock, valued at approximately $126,761,435.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 18.80% of the company’s stock.

Hedge Funds Weigh In On MSC Industrial Direct

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. American Century Companies Inc. boosted its stake in shares of MSC Industrial Direct by 85.1% during the 2nd 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. Charles Schwab Investment Management Inc. boosted its position in MSC Industrial Direct by 7.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,567,038 shares of the industrial products company’s stock worth $134,859,000 after purchasing an additional 113,878 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of MSC Industrial Direct by 7.0% in the second quarter. Dimensional Fund Advisors LP now owns 938,980 shares of the industrial products company’s stock valued at $74,467,000 after purchasing an additional 61,022 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of MSC Industrial Direct by 11.1% in the third quarter. Pacer Advisors Inc. now owns 918,235 shares of the industrial products company’s stock valued at $79,023,000 after purchasing an additional 91,369 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of MSC Industrial Direct by 12.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 765,578 shares of the industrial products company’s stock worth $60,718,000 after buying an additional 84,967 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.