Analysts Set MSC Industrial Direct Company, Inc. (NYSE:MSM) PT at $94.29

MSC Industrial Direct Company, Inc. (NYSE:MSM) has been given a consensus rating of “Hold” by the nine ratings firms that are currently covering the stock, MarketBeat.com reports. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $94.2857.

A number of analysts have recently issued reports on MSM shares. iA Financial set a $95.00 target price on MSC Industrial Direct in a report on Friday, February 6th. KeyCorp upgraded MSC Industrial Direct from a “sector weight” rating to an “overweight” rating and set a $117.00 target price for the company in a report on Monday, April 27th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $95.00 target price on shares of MSC Industrial Direct in a report on Friday, February 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of MSC Industrial Direct in a report on Monday, April 27th. Finally, Wall Street Zen cut MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Saturday, January 31st.

MSC Industrial Direct Stock Down 0.2%

Shares of NYSE:MSM opened at $106.00 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.78 and a current ratio of 1.73. MSC Industrial Direct has a 1 year low of $77.78 and a 1 year high of $108.77. The stock has a market capitalization of $5.92 billion, a P/E ratio of 28.50 and a beta of 0.83. The stock has a 50-day simple moving average of $96.62 and a 200-day simple moving average of $90.96.

MSC Industrial Direct (NYSE:MSM) last issued its earnings results on Wednesday, April 1st. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). MSC Industrial Direct had a return on equity of 16.06% and a net margin of 5.42%.The firm had revenue of $917.77 million for the quarter, compared to analysts’ expectations of $931.69 million. During the same quarter in the previous year, the firm posted $0.72 EPS. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities analysts forecast that MSC Industrial Direct will post 4.34 earnings per share for the current year.

MSC Industrial Direct Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 8th were issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Wednesday, April 8th. MSC Industrial Direct’s dividend payout ratio is currently 93.55%.

Hedge Funds Weigh In On MSC Industrial Direct

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allianz Asset Management GmbH boosted its holdings in MSC Industrial Direct by 124.2% in the 3rd quarter. Allianz Asset Management GmbH now owns 195,176 shares of the industrial products company’s stock worth $17,984,000 after acquiring an additional 108,116 shares during the period. Arjuna Capital purchased a new position in MSC Industrial Direct in the 3rd quarter worth approximately $4,274,000. Convergence Investment Partners LLC purchased a new position in MSC Industrial Direct in the 3rd quarter worth approximately $1,190,000. Elo Mutual Pension Insurance Co purchased a new position in MSC Industrial Direct in the 3rd quarter worth approximately $1,096,000. Finally, Willis Investment Counsel boosted its holdings in MSC Industrial Direct by 48.6% in the 4th quarter. Willis Investment Counsel now owns 37,870 shares of the industrial products company’s stock worth $3,185,000 after acquiring an additional 12,383 shares during the period. Hedge funds and other institutional investors own 79.26% of the company’s stock.

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.