MSC Industrial Direct Company, Inc. (NYSE:MSM) Receives $90.50 Average Target Price from Brokerages

Shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) have been given an average recommendation of “Hold” by the nine ratings firms that are currently covering the stock, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold rating. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $90.50.

MSM has been the subject of several research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of MSC Industrial Direct in a report on Wednesday, January 28th. Robert W. Baird set a $94.00 target price on shares of MSC Industrial Direct in a report on Thursday, January 8th. KeyCorp reiterated a “sector weight” rating on shares of MSC Industrial Direct in a research report on Thursday, January 8th. Wall Street Zen cut shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, iA Financial set a $95.00 price objective on shares of MSC Industrial Direct in a research report on Friday, February 6th.

MSC Industrial Direct Stock Down 0.4%

MSM opened at $89.96 on Friday. MSC Industrial Direct has a one year low of $68.10 and a one year high of $96.99. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.82 and a current ratio of 1.73. The stock has a market capitalization of $5.02 billion, a P/E ratio of 24.58 and a beta of 0.81. The business’s 50-day simple moving average is $90.62 and its 200-day simple moving average is $88.29.

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. The firm had revenue of $965.68 million during the quarter, compared to analysts’ expectations of $962.52 million. MSC Industrial Direct had a return on equity of 15.73% and a net margin of 5.37%.The business’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 EPS. Analysts anticipate 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, April 22nd. Investors of record on Wednesday, April 8th will be issued a dividend of $0.87 per share. The ex-dividend date of this dividend is Wednesday, April 8th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.9%. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 95.08%.

Institutional Trading of MSC Industrial Direct

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

MSC Industrial Direct Company Profile

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.