Brokerages Set MSC Industrial Direct Company, Inc. (NYSE:MSM) Price Target at $89.67

Shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) have received an average rating of “Hold” from the nine ratings firms that are presently covering the stock, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold rating. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $90.50.

Several research analysts recently commented on MSM shares. Weiss Ratings restated a “hold (c)” rating on shares of MSC Industrial Direct in a report on Wednesday, January 28th. Jefferies Financial Group reissued a “hold” rating and set a $85.00 price target on shares of MSC Industrial Direct in a research report on Thursday, January 8th. Robert W. Baird set a $94.00 price objective on MSC Industrial Direct in a report on Thursday, January 8th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $95.00 target price on shares of MSC Industrial Direct in a research report on Friday. Finally, Zacks Research cut MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 3rd.

MSC Industrial Direct Stock Performance

Shares of MSC Industrial Direct stock opened at $95.64 on Friday. 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 firm has a market cap of $5.34 billion, a price-to-earnings ratio of 26.13 and a beta of 0.84. The stock’s 50-day moving average is $85.87 and its 200-day moving average is $87.52. MSC Industrial Direct has a one year low of $68.10 and a one year high of $96.51.

MSC Industrial Direct (NYSE:MSM) last announced its earnings results on Wednesday, January 7th. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $965.68 million for the quarter, compared to analyst estimates of $962.52 million. During the same quarter last year, the firm earned $0.86 EPS. MSC Industrial Direct’s revenue for the quarter was up 4.0% compared to the same quarter last year. Equities analysts predict that MSC Industrial Direct will post 3.57 earnings per share for the current fiscal year.

MSC Industrial Direct Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 28th. Stockholders of record on Wednesday, January 14th were issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Wednesday, January 14th. MSC Industrial Direct’s dividend payout ratio is presently 95.08%.

Insider Transactions at MSC Industrial Direct

In other MSC Industrial Direct news, Director Philip Peller bought 6,666 shares of MSC Industrial Direct stock in a transaction dated Thursday, November 13th. The stock was bought at an average cost of $90.14 per share, for a total transaction of $600,873.24. Following the purchase, the director owned 9,537 shares of the company’s stock, valued at $859,665.18. The trade was a 232.18% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mitchell Jacobson bought 22,870 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The shares were acquired at an average cost of $84.96 per share, for a total transaction of $1,943,035.20. Following the completion of the acquisition, the director directly owned 2,328,192 shares in the company, valued at $197,803,192.32. The trade was a 0.99% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 19.00% of the company’s stock.

Hedge Funds Weigh In On MSC Industrial Direct

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MSM. Royal Bank of Canada lifted its holdings in MSC Industrial Direct by 4.8% during the 1st quarter. Royal Bank of Canada now owns 46,990 shares of the industrial products company’s stock worth $3,650,000 after purchasing an additional 2,164 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in MSC Industrial Direct in the 1st quarter worth about $455,000. NewEdge Advisors LLC boosted its holdings in MSC Industrial Direct by 79.9% in the 1st quarter. NewEdge Advisors LLC now owns 750 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 333 shares during the period. United Services Automobile Association acquired a new position in shares of MSC Industrial Direct during the 1st quarter worth approximately $229,000. Finally, Empowered Funds LLC bought a new position in shares of MSC Industrial Direct during the first quarter worth approximately $816,000. 79.26% of the stock is owned by 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.