MSC Industrial Direct (NYSE:MSM) had its target price lowered by Buckingham Research from $77.00 to $70.00 in a report issued on Thursday morning, BenzingaRatingsTable reports. Buckingham Research currently has a neutral rating on the industrial products company’s stock.
Several other equities research analysts have also recently commented on the company. Northcoast Research reaffirmed a buy rating on shares of MSC Industrial Direct in a report on Thursday, April 11th. Robert W. Baird increased their price target on Atlassian from $110.00 to $120.00 and gave the company an outperform rating in a report on Thursday, April 11th. Wells Fargo & Co cut their price target on MSC Industrial Direct from $85.00 to $80.00 and set a market perform rating for the company in a report on Thursday, April 11th. Raymond James reaffirmed a hold rating on shares of PrairieSky Royalty in a report on Thursday. Finally, William Blair reaffirmed a market perform rating on shares of Luminex in a report on Tuesday, May 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. The company has an average rating of Hold and a consensus target price of $80.70.
NYSE:MSM opened at $72.55 on Thursday. MSC Industrial Direct has a one year low of $67.25 and a one year high of $90.25. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.18 and a current ratio of 2.50. The firm has a market capitalization of $4.00 billion, a PE ratio of 13.66, a PEG ratio of 1.34 and a beta of 0.94. The firm has a 50 day moving average of $72.39.
MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings results on Wednesday, July 10th. The industrial products company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.50 by ($0.05). MSC Industrial Direct had a net margin of 8.79% and a return on equity of 21.08%. The company had revenue of $866.50 million during the quarter, compared to analyst estimates of $881.62 million. During the same period in the prior year, the business posted $1.39 EPS. MSC Industrial Direct’s revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, sell-side analysts forecast that MSC Industrial Direct will post 5.33 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 6th. Shareholders of record on Tuesday, July 23rd will be paid a dividend of $0.75 per share. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.63. The ex-dividend date is Monday, July 22nd. This represents a $3.00 annualized dividend and a yield of 4.14%. MSC Industrial Direct’s dividend payout ratio (DPR) is 49.61%.
In other MSC Industrial Direct news, EVP Steven N. Baruch sold 5,404 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $82.00, for a total transaction of $443,128.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Douglas E. Jones sold 2,126 shares of the firm’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $83.50, for a total value of $177,521.00. Following the sale, the executive vice president now directly owns 7,496 shares of the company’s stock, valued at approximately $625,916. The disclosure for this sale can be found here. 27.96% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the business. Investors Research Corp acquired a new stake in MSC Industrial Direct during the first quarter worth $25,000. Quadrant Capital Group LLC grew its stake in shares of MSC Industrial Direct by 1,212.1% in the first quarter. Quadrant Capital Group LLC now owns 761 shares of the industrial products company’s stock valued at $60,000 after buying an additional 703 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of MSC Industrial Direct by 25.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,151 shares of the industrial products company’s stock valued at $89,000 after buying an additional 231 shares in the last quarter. NumerixS Investment Technologies Inc grew its stake in shares of MSC Industrial Direct by 71.4% in the first quarter. NumerixS Investment Technologies Inc now owns 1,200 shares of the industrial products company’s stock valued at $98,000 after buying an additional 500 shares in the last quarter. Finally, ETF Managers Group LLC grew its stake in shares of MSC Industrial Direct by 9.8% in the first quarter. ETF Managers Group LLC now owns 1,592 shares of the industrial products company’s stock valued at $132,000 after buying an additional 142 shares in the last quarter. 76.11% of the stock is owned by institutional investors.
About MSC Industrial Direct
MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products 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 products, 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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