Recent Research Analysts’ Ratings Changes for MSC Industrial Direct (MSM)

A number of research firms have changed their ratings and price targets for MSC Industrial Direct (NYSE: MSM):

• 6/17/2024 – MSC Industrial Direct was downgraded by analysts at KeyCorp from an “overweight” rating to a “sector weight” rating.
• 6/17/2024 – MSC Industrial Direct was downgraded by analysts at Loop Capital from a “buy” rating to a “hold” rating. They now have a $80.00 price target on the stock.
• 6/14/2024 – MSC Industrial Direct had its “overweight” rating reaffirmed by analysts at Stephens. They now have a $110.00 price target on the stock.
• 6/14/2024 – MSC Industrial Direct had its price target lowered by analysts at Robert W. Baird from $95.00 to $84.00. They now have a “neutral” rating on the stock.
• 6/8/2024 – MSC Industrial Direct was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 5/29/2024 – MSC Industrial Direct was downgraded by analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating. They now have a $95.00 price target on the stock, down previously from $112.00.
• 5/29/2024 – MSC Industrial Direct was downgraded by analysts at Baird R W from a “strong-buy” rating to a “hold” rating.
• 5/29/2024 – MSC Industrial Direct was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 5/10/2024 – MSC Industrial Direct was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.

MSC Industrial Direct Price Performance

NYSE:MSM traded up $0.41 during trading hours on Tuesday, hitting $78.64. The company’s stock had a trading volume of 179,085 shares, compared to its average volume of 518,333. The stock has a fifty day simple moving average of $86.92 and a 200-day simple moving average of $93.93. The company has a market capitalization of $4.43 billion, a P/E ratio of 14.12 and a beta of 0.88. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.01 and a quick ratio of 0.92. MSC Industrial Direct Co., Inc. has a twelve month low of $75.05 and a twelve month high of $105.77.

MSC Industrial Direct Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 23rd. Investors of record on Tuesday, July 9th will be given a dividend of $0.83 per share. The ex-dividend date is Tuesday, July 9th. This represents a $3.32 annualized dividend and a dividend yield of 4.22%. MSC Industrial Direct’s payout ratio is 59.61%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MSM. Contravisory Investment Management Inc. purchased a new position in MSC Industrial Direct in the fourth quarter worth $25,000. Future Financial Wealth Managment LLC purchased a new position in MSC Industrial Direct in the first quarter worth $29,000. Bessemer Group Inc. boosted its position in MSC Industrial Direct by 261.7% in the first quarter. Bessemer Group Inc. now owns 387 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 280 shares during the last quarter. GAMMA Investing LLC purchased a new position in MSC Industrial Direct in the fourth quarter worth $40,000. Finally, Quarry LP purchased a new position in MSC Industrial Direct in the fourth quarter worth $40,000. Hedge funds and other institutional investors own 79.26% of the company’s stock.

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.