Brokerages Set MSC Industrial Direct Co., Inc. (NYSE:MSM) Price Target at $85.20

MSC Industrial Direct Co., Inc. (NYSE:MSM - Get Free Report) has been assigned an average recommendation of "Hold" from the six ratings firms that are covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation. The average 1 year price objective among brokerages that have covered the stock in the last year is $85.20.

A number of equities analysts have recently issued reports on MSM shares. Stephens lowered shares of MSC Industrial Direct from an "overweight" rating to an "equal weight" rating and set a $85.00 target price on the stock. in a research report on Wednesday, December 4th. JPMorgan Chase & Co. decreased their price target on shares of MSC Industrial Direct from $87.00 to $73.00 and set a "neutral" rating for the company in a research note on Friday, October 25th. Finally, Robert W. Baird lifted their price objective on shares of MSC Industrial Direct from $84.00 to $91.00 and gave the company a "neutral" rating in a research note on Wednesday, October 16th.

MSC Industrial Direct Stock Down 2.3 %

MSM traded down $1.71 on Monday, reaching $73.09. The company's stock had a trading volume of 662,539 shares, compared to its average volume of 578,736. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of 15.96 and a beta of 0.89. MSC Industrial Direct has a fifty-two week low of $72.79 and a fifty-two week high of $104.76. The company has a quick ratio of 0.90, a current ratio of 1.96 and a debt-to-equity ratio of 0.20. The stock has a 50 day moving average of $82.58 and a two-hundred day moving average of $81.95.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last posted its earnings results on Thursday, October 24th. The industrial products company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.05). The firm had revenue of $952.30 million during the quarter, compared to analysts' expectations of $959.74 million. MSC Industrial Direct had a net margin of 6.77% and a return on equity of 19.35%. The firm's revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.64 earnings per share. As a group, analysts forecast that MSC Industrial Direct will post 3.63 EPS for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 15th will be paid a $0.85 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $3.40 annualized dividend and a yield of 4.65%. MSC Industrial Direct's dividend payout ratio is currently 74.24%.

Insider Transactions at MSC Industrial Direct

In other news, Director Philip Peller sold 900 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $89.07, for a total transaction of $80,163.00. Following the completion of the transaction, the director now directly owns 4,044 shares of the company's stock, valued at approximately $360,199.08. This represents a 18.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Erik Gershwind sold 50,000 shares of MSC Industrial Direct stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $90.36, for a total value of $4,518,000.00. Following the completion of the sale, the chief executive officer now owns 1,402,849 shares in the company, valued at approximately $126,761,435.64. This trade represents a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 18.30% of the company's stock.

Hedge Funds Weigh In On MSC Industrial Direct

A number of large investors have recently made changes to their positions in MSM. Commonwealth Equity Services LLC grew its holdings in shares of MSC Industrial Direct by 36.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 12,739 shares of the industrial products company's stock worth $1,010,000 after acquiring an additional 3,419 shares during the period. Van ECK Associates Corp raised its stake in shares of MSC Industrial Direct by 157.4% during the 2nd quarter. Van ECK Associates Corp now owns 49,284 shares of the industrial products company's stock worth $3,909,000 after buying an additional 30,134 shares during the last quarter. Aptus Capital Advisors LLC boosted its position in shares of MSC Industrial Direct by 24.6% in the 2nd quarter. Aptus Capital Advisors LLC now owns 30,669 shares of the industrial products company's stock worth $2,432,000 after buying an additional 6,049 shares in the last quarter. Impact Partnership Wealth LLC grew its stake in MSC Industrial Direct by 405.6% in the 2nd quarter. Impact Partnership Wealth LLC now owns 5,071 shares of the industrial products company's stock valued at $402,000 after acquiring an additional 4,068 shares during the last quarter. Finally, National Bank of Canada FI increased its holdings in MSC Industrial Direct by 13.9% during the 2nd quarter. National Bank of Canada FI now owns 2,358 shares of the industrial products company's stock valued at $185,000 after acquiring an additional 288 shares in the last quarter. Hedge funds and other institutional investors own 79.26% of the company's stock.

MSC Industrial Direct Company Profile

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.