MSC Industrial Direct (NYSE:MSM) Price Target Lowered to $75.00 at Loop Capital

MSC Industrial Direct (NYSE:MSM) had its target price decreased by Loop Capital from $80.00 to $75.00 in a research note published on Wednesday morning, Benzinga reports. Loop Capital currently has a hold rating on the industrial products company’s stock.

A number of other equities research analysts also recently weighed in on MSM. Stephens reiterated an overweight rating and issued a $110.00 price target on shares of MSC Industrial Direct in a research report on Friday, June 14th. StockNews.com downgraded shares of MSC Industrial Direct from a buy rating to a hold rating in a research report on Saturday, June 8th. KeyCorp cut MSC Industrial Direct from an overweight rating to a sector weight rating in a research note on Monday, June 17th. JPMorgan Chase & Co. decreased their price target on MSC Industrial Direct from $81.00 to $80.00 and set a neutral rating on the stock in a research note on Wednesday. Finally, Baird R W downgraded MSC Industrial Direct from a strong-buy rating to a hold rating in a research report on Wednesday, May 29th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, MSC Industrial Direct currently has a consensus rating of Hold and an average target price of $90.20.

MSC Industrial Direct Trading Down 1.9 %

Shares of MSM stock opened at $78.53 on Wednesday. The firm has a 50 day moving average price of $86.36 and a two-hundred day moving average price of $93.68. The company has a quick ratio of 0.92, a current ratio of 2.01 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $4.42 billion, a PE ratio of 14.10 and a beta of 0.88. MSC Industrial Direct has a 12-month low of $75.05 and a 12-month high of $105.77.

MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings results on Tuesday, July 2nd. The industrial products company reported $1.33 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.33. MSC Industrial Direct had a net margin of 7.89% and a return on equity of 22.58%. The company had revenue of $979.40 million during the quarter, compared to the consensus estimate of $979.10 million. During the same period in the previous year, the business earned $1.74 earnings per share. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. As a group, analysts predict that MSC Industrial Direct will post 4.89 earnings per share for the current year.

MSC Industrial Direct Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Tuesday, July 9th will be paid a dividend of $0.83 per share. The ex-dividend date is Tuesday, July 9th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 4.23%. MSC Industrial Direct’s payout ratio is presently 59.61%.

Institutional Trading of MSC Industrial Direct

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale grew its stake in shares of MSC Industrial Direct by 68.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 157,252 shares of the industrial products company’s stock worth $15,458,000 after buying an additional 63,955 shares during the last quarter. Swedbank AB acquired a new position in shares of MSC Industrial Direct during the first quarter worth $16,571,000. Tidal Investments LLC lifted its holdings in shares of MSC Industrial Direct by 50.5% during the first quarter. Tidal Investments LLC now owns 25,630 shares of the industrial products company’s stock worth $2,487,000 after purchasing an additional 8,604 shares during the period. Bayesian Capital Management LP acquired a new position in shares of MSC Industrial Direct during the first quarter worth $258,000. Finally, Paloma Partners Management Co acquired a new position in shares of MSC Industrial Direct during the first quarter worth $256,000. Institutional investors own 79.26% of the company’s stock.

About MSC Industrial Direct

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.