MSC Industrial Direct (NYSE:MSM) Shares Gap Down - What's Next?

Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $80.84, but opened at $78.00. MSC Industrial Direct shares last traded at $78.35, with a volume of 273,287 shares.

Analyst Ratings Changes

A number of brokerages have recently commented on MSM. Loop Capital lowered their price objective on MSC Industrial Direct from $80.00 to $75.00 and set a "hold" rating for the company in a research report on Wednesday, July 3rd. Robert W. Baird lifted their price target on MSC Industrial Direct from $84.00 to $91.00 and gave the company a "neutral" rating in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. cut their price objective on shares of MSC Industrial Direct from $81.00 to $80.00 and set a "neutral" rating on the stock in a report on Wednesday, July 3rd. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, MSC Industrial Direct presently has a consensus rating of "Hold" and an average price target of $91.60.

MSC Industrial Direct Stock Down 3.8 %

The stock has a fifty day moving average of $82.09 and a two-hundred day moving average of $84.52. The company has a quick ratio of 0.92, a current ratio of 2.01 and a debt-to-equity ratio of 0.21. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 15.00 and a beta of 0.86.

MSC Industrial Direct Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a $0.85 dividend. This is a positive change from MSC Industrial Direct's previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a dividend yield of 4.37%. The ex-dividend date is Wednesday, November 13th. MSC Industrial Direct's payout ratio is currently 66.02%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Blue Trust Inc. increased its position in shares of MSC Industrial Direct by 1,142.3% in the second quarter. Blue Trust Inc. now owns 323 shares of the industrial products company's stock worth $26,000 after acquiring an additional 297 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in MSC Industrial Direct in the 2nd quarter valued at $26,000. V Square Quantitative Management LLC purchased a new position in MSC Industrial Direct in the third quarter valued at about $26,000. UMB Bank n.a. boosted its position in shares of MSC Industrial Direct by 442.1% in the third quarter. UMB Bank n.a. now owns 309 shares of the industrial products company's stock worth $27,000 after buying an additional 252 shares during the period. Finally, Quest Partners LLC boosted its position in shares of MSC Industrial Direct by 35,300.0% in the second quarter. Quest Partners LLC now owns 354 shares of the industrial products company's stock worth $28,000 after buying an additional 353 shares during the period. 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.