MSC Industrial Direct (NYSE:MSM) Rating Lowered to Outperform at UBS Group

MSC Industrial Direct (NYSE:MSM) was downgraded by UBS Group from a “strong-buy” rating to an “outperform” rating in a research note issued to investors on Thursday, January 4th, The Fly reports.

Several other research analysts have also commented on the stock. Credit Suisse Group set a $93.00 price objective on shares of MSC Industrial Direct and gave the stock a “buy” rating in a report on Friday, October 6th. Gabelli upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $94.00 price target for the company in a research note on Friday, October 13th. Zacks Investment Research upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a research note on Wednesday, October 11th. Stifel Nicolaus reiterated a “hold” rating and issued a $93.00 price target on shares of MSC Industrial Direct in a research note on Monday, December 11th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of MSC Industrial Direct in a research note on Tuesday, September 12th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $95.54.

MSC Industrial Direct (MSM) traded up $2.62 during trading hours on Thursday, reaching $95.15. 1,547,900 shares of the company were exchanged, compared to its average volume of 1,011,050. The company has a quick ratio of 0.97, a current ratio of 1.80 and a debt-to-equity ratio of 0.16. MSC Industrial Direct has a 52 week low of $65.42 and a 52 week high of $105.70. The company has a market cap of $5,370.00, a price-to-earnings ratio of 22.93, a P/E/G ratio of 1.90 and a beta of 0.67.

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

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

In other news, EVP Steven N. Baruch sold 5,762 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $81.25, for a total transaction of $468,162.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mitchell Jacobson sold 26,306 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $79.40, for a total transaction of $2,088,696.40. The disclosure for this sale can be found here. Insiders have sold a total of 225,541 shares of company stock worth $18,264,812 over the last three months. 31.38% of the stock is currently owned by insiders.

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

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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.

The Fly

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