MSC Industrial Direct (NYSE:MSM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of MSC Industrial Direct (NYSE:MSM) from a hold rating to a buy rating in a report released on Saturday.

A number of other analysts have also recently commented on MSM. Weiss Ratings restated a “hold (c)” rating on shares of MSC Industrial Direct in a research note on Friday, October 31st. Robert W. Baird set a $94.00 target price on MSC Industrial Direct in a research report on Thursday, January 8th. Wolfe Research cut MSC Industrial Direct from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 8th. Zacks Research lowered MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 3rd. Finally, Jefferies Financial Group restated a “hold” rating and issued a $85.00 target price on shares of MSC Industrial Direct in a research note on Thursday, January 8th. One investment analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, MSC Industrial Direct presently has an average rating of “Hold” and a consensus target price of $89.67.

MSC Industrial Direct Stock Performance

Shares of MSM opened at $84.74 on Friday. MSC Industrial Direct has a 1 year low of $68.10 and a 1 year high of $94.31. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.73 and a quick ratio of 0.82. The stock’s fifty day moving average price is $85.76 and its two-hundred day moving average price is $87.61. The firm has a market cap of $4.73 billion, a PE ratio of 23.15 and a beta of 0.85.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings results on Wednesday, January 7th. The industrial products company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.04. MSC Industrial Direct had a return on equity of 15.73% and a net margin of 5.37%.The company had revenue of $965.68 million during the quarter, compared to the consensus estimate of $962.52 million. During the same quarter in the prior year, the company earned $0.86 EPS. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities research analysts forecast that MSC Industrial Direct will post 3.57 EPS for the current year.

MSC Industrial Direct Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 28th. Stockholders of record on Wednesday, January 14th will be issued a $0.87 dividend. The ex-dividend date of this dividend is Wednesday, January 14th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 4.1%. MSC Industrial Direct’s dividend payout ratio is presently 95.08%.

Insiders Place Their Bets

In related news, Director Mitchell Jacobson bought 22,870 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was bought at an average cost of $84.96 per share, for a total transaction of $1,943,035.20. Following the completion of the transaction, the director owned 2,328,192 shares of the company’s stock, valued at approximately $197,803,192.32. The trade was a 0.99% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Philip Peller purchased 6,666 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were purchased at an average cost of $90.14 per share, with a total value of $600,873.24. Following the purchase, the director owned 9,537 shares of the company’s stock, valued at approximately $859,665.18. The trade was a 232.18% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 211,342 shares of company stock valued at $17,951,965 over the last ninety days. 19.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MSC Industrial Direct

Large investors have recently bought and sold shares of the stock. Quent Capital LLC purchased a new position in shares of MSC Industrial Direct during the third quarter valued at approximately $31,000. Hantz Financial Services Inc. grew its holdings in shares of MSC Industrial Direct by 257.4% during the third quarter. Hantz Financial Services Inc. now owns 361 shares of the industrial products company’s stock valued at $33,000 after buying an additional 260 shares during the last quarter. Quarry LP boosted its stake in MSC Industrial Direct by 71.7% during the 3rd quarter. Quarry LP now owns 503 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 210 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in MSC Industrial Direct by 130.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 576 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 326 shares during the period. Finally, First Horizon Advisors Inc. boosted its holdings in MSC Industrial Direct by 52.2% in the second quarter. First Horizon Advisors Inc. now owns 595 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 204 shares during the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc (NYSE: MSM) is a leading distributor of metalworking and maintenance, repair and operations (MRO) products serving a broad range of industrial customers across North America. The company offers an extensive portfolio of cutting tools, abrasives, measuring and inspection instruments, fasteners, safety supplies and other essential components used in manufacturing, metalworking and production environments. MSC delivers products through a multi-channel distribution network, including an extensive branch system, e-commerce platform and dedicated sales force.

In addition to its core product offerings, MSC Industrial Direct provides value-added services designed to improve productivity and reduce downtime for its customers.