MSC Industrial Direct’s (MSM) “Overweight” Rating Reaffirmed at Stephens

Stephens reaffirmed their overweight rating on shares of MSC Industrial Direct (NYSE:MSMFree Report) in a report issued on Friday morning, Benzinga reports. Stephens currently has a $110.00 target price on the industrial products company’s stock.

Several other analysts have also weighed in on the stock. StockNews.com lowered shares of MSC Industrial Direct from a buy rating to a hold rating in a research note on Saturday, June 8th. Robert W. Baird lowered their price objective on shares of MSC Industrial Direct from $95.00 to $84.00 and set a neutral rating for the company in a research note on Friday. Finally, Baird R W lowered shares of MSC Industrial Direct from a strong-buy rating to a hold rating in a research note on Wednesday, May 29th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $93.00.

Read Our Latest Research Report on MSC Industrial Direct

MSC Industrial Direct Stock Up 3.8 %

MSC Industrial Direct stock opened at $78.72 on Friday. 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 52-week low of $75.05 and a 52-week high of $105.77. The firm has a 50 day moving average price of $89.89 and a two-hundred day moving average price of $95.45. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of 14.13 and a beta of 0.89.

MSC Industrial Direct (NYSE:MSMGet Free Report) last released its quarterly earnings results on Thursday, March 28th. The industrial products company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.02. The firm had revenue of $935.30 million during the quarter, compared to analyst estimates of $946.55 million. MSC Industrial Direct had a net margin of 7.89% and a return on equity of 22.58%. The company’s revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.45 EPS. Equities analysts predict that MSC Industrial Direct will post 5.69 EPS for the current year.

MSC Industrial Direct Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 23rd. Shareholders of record on Tuesday, April 9th were paid 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 4.22%. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 59.61%.

Institutional Trading of MSC Industrial Direct

A number of hedge funds and other institutional investors have recently bought and sold shares of MSM. Norges Bank bought a new stake in MSC Industrial Direct during the 4th quarter valued at $56,088,000. Hennessy Advisors Inc. purchased a new position in MSC Industrial Direct during the 4th quarter worth $21,649,000. Vanguard Group Inc. boosted its holdings in MSC Industrial Direct by 4.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,817,016 shares of the industrial products company’s stock worth $472,790,000 after acquiring an additional 197,193 shares during the last quarter. Swedbank AB purchased a new position in MSC Industrial Direct during the 1st quarter worth $16,571,000. Finally, Invesco Ltd. boosted its holdings in MSC Industrial Direct by 39.9% during the 3rd quarter. Invesco Ltd. now owns 462,756 shares of the industrial products company’s stock worth $45,420,000 after acquiring an additional 131,943 shares during the last quarter. Institutional investors own 79.26% of the company’s stock.

About MSC Industrial Direct

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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.

Further Reading

Analyst Recommendations for MSC Industrial Direct (NYSE:MSM)

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