Shares of MSC Industrial Direct Co Inc (NYSE:MSM) have earned a consensus recommendation of “Hold” from the seventeen brokerages that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $95.92.
A number of equities research analysts have issued reports on the stock. Stifel Nicolaus reiterated a “hold” rating and set a $100.00 price objective (up from $98.00) on shares of MSC Industrial Direct in a research note on Friday, January 12th. Stephens set a $114.00 price objective on shares of MSC Industrial Direct and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Zacks Investment Research upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a research note on Wednesday, January 10th. Credit Suisse Group reiterated an “outperform” rating and set a $112.00 price objective (up from $100.00) on shares of MSC Industrial Direct in a research note on Tuesday, January 9th. Finally, Susquehanna Bancshares reiterated a “hold” rating and set a $92.00 price objective on shares of MSC Industrial Direct in a research note on Wednesday, January 3rd.
MSC Industrial Direct (NYSE:MSM) traded down $0.94 during mid-day trading on Tuesday, hitting $88.92. 442,631 shares of the company traded hands, compared to its average volume of 846,044. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.04. MSC Industrial Direct has a fifty-two week low of $65.42 and a fifty-two week high of $105.29. The firm has a market capitalization of $5,014.42, a P/E ratio of 21.48, a PEG ratio of 1.29 and a beta of 0.59.
MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings data on Wednesday, January 10th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.01). The firm 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 19.37% and a net margin of 7.97%. The company’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.95 earnings per share. equities research analysts anticipate that MSC Industrial Direct will post 5.06 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 30th. Stockholders of record on Tuesday, January 16th were issued a $0.58 dividend. The ex-dividend date was Friday, January 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.61%. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.48. MSC Industrial Direct’s dividend payout ratio is 56.04%.
MSC Industrial Direct declared that its board has approved a share repurchase program on Wednesday, January 10th that authorizes the company to repurchase 2,000,000 shares. This repurchase authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
In other news, CFO Rustom Jilla sold 2,500 shares of the stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $99.00, for a total value of $247,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Erik Gershwind sold 25,000 shares of the stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $98.66, for a total transaction of $2,466,500.00. Following the completion of the transaction, the insider now directly owns 117,885 shares of the company’s stock, valued at approximately $11,630,534.10. The disclosure for this sale can be found here. Insiders sold 783,437 shares of company stock valued at $74,083,049 in the last three months. Company insiders own 31.38% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Westpac Banking Corp lifted its holdings in shares of MSC Industrial Direct by 14.8% in the third quarter. Westpac Banking Corp now owns 79,800 shares of the industrial products company’s stock worth $6,030,000 after acquiring an additional 10,300 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of MSC Industrial Direct by 7.4% in the third quarter. Prudential Financial Inc. now owns 203,732 shares of the industrial products company’s stock worth $15,396,000 after acquiring an additional 14,046 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of MSC Industrial Direct by 5.1% in the third quarter. JPMorgan Chase & Co. now owns 3,284,345 shares of the industrial products company’s stock worth $246,031,000 after acquiring an additional 159,772 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of MSC Industrial Direct by 114.6% in the third quarter. Sei Investments Co. now owns 63,342 shares of the industrial products company’s stock worth $4,787,000 after acquiring an additional 33,819 shares during the last quarter. Finally, WINTON GROUP Ltd lifted its holdings in shares of MSC Industrial Direct by 45.0% in the third quarter. WINTON GROUP Ltd now owns 77,412 shares of the industrial products company’s stock worth $5,850,000 after acquiring an additional 24,010 shares during the last quarter. 73.99% of the stock is owned by hedge funds and other institutional investors.
COPYRIGHT VIOLATION WARNING: “MSC Industrial Direct Co Inc (MSM) Receives Consensus Rating of “Hold” from Analysts” was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this news story on another publication, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this news story can be accessed at https://ledgergazette.com/2018/03/14/msc-industrial-direct-co-inc-msm-receives-consensus-rating-of-hold-from-analysts.html.
About MSC Industrial Direct
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.
Receive News & Ratings for MSC Industrial Direct Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MSC Industrial Direct and related companies with MarketBeat.com's FREE daily email newsletter.