Stephens restated their buy rating on shares of MSC Industrial Direct (NYSE:MSM) in a research report sent to investors on Tuesday morning. Stephens currently has a $116.00 price objective on the industrial products company’s stock.
A number of other equities analysts have also recently weighed in on the company. Zacks Investment Research upgraded MSC Industrial Direct from a hold rating to a buy rating and set a $110.00 price target for the company in a report on Wednesday, January 10th. Northcoast Research upgraded MSC Industrial Direct from a neutral rating to a buy rating in a report on Friday, December 15th. Goldman Sachs assumed coverage on MSC Industrial Direct in a report on Sunday, March 18th. They set a buy rating and a $107.00 price target for the company. Gabelli cut MSC Industrial Direct from a buy rating to a hold rating and set a $99.00 price target for the company. in a report on Friday, March 16th. Finally, Stifel Nicolaus reiterated a hold rating and set a $100.00 price target (up from $98.00) on shares of MSC Industrial Direct in a report on Friday, January 12th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. MSC Industrial Direct currently has a consensus rating of Hold and an average target price of $100.54.
Shares of MSM opened at $91.81 on Tuesday. MSC Industrial Direct has a 52-week low of $65.42 and a 52-week high of $99.94. The firm has a market capitalization of $5,179.27, a price-to-earnings ratio of 22.16, a P/E/G ratio of 1.32 and a beta of 0.60. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.04.
MSC Industrial Direct (NYSE:MSM) last issued its earnings results on Tuesday, April 10th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.28). MSC Industrial Direct had a return on equity of 19.37% and a net margin of 7.97%. The company had revenue of $769.00 million during the quarter, compared to analyst estimates of $773.42 million. During the same period last year, the business earned $1.33 earnings per share. The firm’s revenue was up 9.3% compared to the same quarter last year. sell-side analysts forecast that MSC Industrial Direct will post 5.12 EPS for the current fiscal year.
MSC Industrial Direct declared that its Board of Directors has approved a share repurchase plan on Wednesday, January 10th that permits the company to buyback 2,000,000 shares. This buyback authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 17th will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Monday, April 16th. MSC Industrial Direct’s dividend payout ratio (DPR) is 57.28%.
In related news, VP Charles Bonomo sold 1,800 shares of the firm’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $92.19, for a total transaction of $165,942.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Rustom Jilla sold 2,500 shares of MSC Industrial Direct stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $99.00, for a total value of $247,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 783,437 shares of company stock valued at $74,083,049 over the last 90 days. 31.38% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. boosted its stake in shares of MSC Industrial Direct by 4.8% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 233,134 shares of the industrial products company’s stock valued at $22,535,000 after buying an additional 10,585 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of MSC Industrial Direct by 49.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,294 shares of the industrial products company’s stock valued at $222,000 after buying an additional 755 shares during the period. Swiss National Bank boosted its stake in shares of MSC Industrial Direct by 2.8% in the 4th quarter. Swiss National Bank now owns 76,800 shares of the industrial products company’s stock valued at $7,423,000 after buying an additional 2,100 shares during the period. Franklin Resources Inc. purchased a new position in shares of MSC Industrial Direct in the 4th quarter valued at about $248,000. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of MSC Industrial Direct by 30.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 372,507 shares of the industrial products company’s stock valued at $28,150,000 after buying an additional 87,188 shares during the period. Institutional investors and hedge funds own 75.35% of the company’s stock.
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About MSC Industrial Direct
MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes various ranges of metalworking and maintenance, repair, and operations (MRO) products primarily in the United States, Canada, and the United Kingdom. The company's MRO products comprise cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components, and electrical supplies.
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