MSC Industrial Direct (NYSE:MSM) Stock Rating Lowered by Zacks Research

MSC Industrial Direct (NYSE:MSM) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

Several other research firms have also recently commented on MSM. Weiss Ratings restated a “hold (c)” rating on shares of MSC Industrial Direct in a report on Friday, October 31st. Wolfe Research downgraded MSC Industrial Direct from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upped their target price on MSC Industrial Direct from $93.00 to $96.00 and gave the stock an “overweight” rating in a research report on Friday, October 24th. Finally, Wall Street Zen lowered MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $91.50.

MSC Industrial Direct Price Performance

Shares of NYSE:MSM opened at $82.41 on Wednesday. The company has a market cap of $4.60 billion, a P/E ratio of 23.15 and a beta of 0.84. The company’s fifty day moving average is $87.43 and its two-hundred day moving average is $86.92. The company has a quick ratio of 0.80, a current ratio of 1.68 and a debt-to-equity ratio of 0.12. MSC Industrial Direct has a 12-month low of $68.10 and a 12-month high of $94.31.

MSC Industrial Direct (NYSE:MSM) last issued its earnings results on Thursday, October 23rd. The industrial products company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.06. MSC Industrial Direct had a return on equity of 15.21% and a net margin of 5.29%.The company had revenue of $978.18 million for the quarter, compared to the consensus estimate of $964.03 million. During the same quarter in the prior year, the company earned $1.03 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. Equities analysts expect that MSC Industrial Direct will post 3.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Philip Peller acquired 6,666 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The stock was acquired at an average cost of $90.14 per share, with a total value of $600,873.24. Following the acquisition, the director owned 9,537 shares in the company, valued at approximately $859,665.18. This represents a 232.18% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mitchell Jacobson bought 22,870 shares of the business’s stock in a transaction on Tuesday, November 18th. The shares were purchased at an average cost of $84.96 per share, with a total value of $1,943,035.20. Following the transaction, the director owned 2,328,192 shares in the company, valued at approximately $197,803,192.32. The trade was a 0.99% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 211,342 shares of company stock valued at $17,951,965 in the last ninety days. Company insiders own 18.30% of the company’s stock.

Institutional Trading of MSC Industrial Direct

Several hedge funds have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. boosted its position in shares of MSC Industrial Direct by 3.2% in the second quarter. Envestnet Asset Management Inc. now owns 116,908 shares of the industrial products company’s stock valued at $9,940,000 after acquiring an additional 3,599 shares during the period. Vident Advisory LLC bought a new position in MSC Industrial Direct during the first quarter worth $251,000. Allianz Asset Management GmbH raised its stake in MSC Industrial Direct by 267.1% during the 2nd quarter. Allianz Asset Management GmbH now owns 87,060 shares of the industrial products company’s stock valued at $7,402,000 after purchasing an additional 63,347 shares during the last quarter. Raymond James Financial Inc. boosted its holdings in MSC Industrial Direct by 8.7% in the 1st quarter. Raymond James Financial Inc. now owns 70,865 shares of the industrial products company’s stock valued at $5,504,000 after purchasing an additional 5,644 shares during the period. Finally, American Century Companies Inc. grew its position in MSC Industrial Direct by 2.5% in the 2nd quarter. American Century Companies Inc. now owns 3,743,021 shares of the industrial products company’s stock worth $318,232,000 after purchasing an additional 92,800 shares during the last quarter. Institutional investors own 79.26% of the company’s stock.

About MSC Industrial Direct

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.