MSC Industrial Direct (MSM) Stock Rating Reaffirmed by Credit Suisse Group

Credit Suisse Group restated their outperform rating on shares of MSC Industrial Direct (NYSE:MSM) in a research report report published on Tuesday, The Fly reports. They currently have a $112.00 price objective on the industrial products company’s stock, up from their prior price objective of $100.00.

MSM has been the topic of a number of other reports. Susquehanna Bancshares assumed coverage on MSC Industrial Direct in a report on Monday, September 25th. They set a neutral rating and a $77.00 target price on the stock. KeyCorp reissued a hold rating on shares of MSC Industrial Direct in a report on Tuesday, October 17th. BMO Capital Markets reissued a market perform rating and set a $83.00 target price (up from $79.00) on shares of MSC Industrial Direct in a report on Monday, October 9th. Gabelli raised MSC Industrial Direct from a hold rating to a buy rating and set a $94.00 target price on the stock in a report on Friday, October 13th. Finally, Stifel Nicolaus reaffirmed a hold rating and issued a $93.00 price objective on shares of MSC Industrial Direct in a report on Monday, December 11th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $95.54.

MSC Industrial Direct (NYSE MSM) traded up $0.18 during mid-day trading on Tuesday, hitting $94.75. The company had a trading volume of 691,098 shares, compared to its average volume of 975,511. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.80 and a quick ratio of 0.97. The firm has a market cap of $5,370.00, a price-to-earnings ratio of 22.83, a PEG ratio of 1.90 and a beta of 0.67. MSC Industrial Direct has a 1-year low of $65.42 and a 1-year high of $105.70.

MSC Industrial Direct (NYSE:MSM) last posted its earnings results on Wednesday, January 10th. The industrial products company reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.01). The business had revenue of $768.60 million for the quarter, compared to analyst estimates of $770.95 million. MSC Industrial Direct had a return on equity of 19.42% and a net margin of 8.01%. The firm’s revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.95 earnings per share. research analysts predict that MSC Industrial Direct will post 4.45 EPS for the current fiscal year.

MSC Industrial Direct declared that its Board of Directors has approved a share repurchase plan on Wednesday, January 10th that permits the company to repurchase 2,000,000 outstanding shares. This repurchase authorization permits the industrial products company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 30th. Shareholders of record on Tuesday, January 16th will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.45%. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, January 12th. MSC Industrial Direct’s dividend payout ratio is currently 46.27%.

In other news, SVP Christopher Davanzo sold 12,046 shares of the company’s stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $93.43, for a total transaction of $1,125,457.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mitchell Jacobson sold 13,582 shares of the company’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $81.91, for a total value of $1,112,501.62. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 237,587 shares of company stock worth $19,390,269. Insiders own 31.38% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Leith Wheeler Investment Counsel Ltd. lifted its position in shares of MSC Industrial Direct by 5.5% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 22,407 shares of the industrial products company’s stock valued at $2,166,000 after acquiring an additional 1,160 shares during the period. Public Employees Retirement System of Ohio lifted its position in shares of MSC Industrial Direct by 30.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 372,507 shares of the industrial products company’s stock valued at $28,150,000 after acquiring an additional 87,188 shares during the period. GSA Capital Partners LLP lifted its position in shares of MSC Industrial Direct by 37.4% during the 3rd quarter. GSA Capital Partners LLP now owns 13,182 shares of the industrial products company’s stock valued at $996,000 after acquiring an additional 3,589 shares during the period. DF Dent & Co. Inc. lifted its position in shares of MSC Industrial Direct by 37.5% during the 3rd quarter. DF Dent & Co. Inc. now owns 4,407 shares of the industrial products company’s stock valued at $333,000 after acquiring an additional 1,203 shares during the period. Finally, California Public Employees Retirement System lifted its position in shares of MSC Industrial Direct by 6.3% during the 3rd quarter. California Public Employees Retirement System now owns 141,409 shares of the industrial products company’s stock valued at $10,686,000 after acquiring an additional 8,409 shares during the period. Hedge funds and other institutional investors own 75.55% of the company’s stock.

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MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc is a North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. The Company’s range of MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components and electrical supplies.

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