Brokers Offer Predictions for MSC Industrial Direct Company, Inc.’s FY2021 Earnings (MSM)

MSC Industrial Direct Company, Inc. (NYSE:MSM) – Gabelli raised their FY2021 earnings estimates for shares of MSC Industrial Direct in a research report issued to clients and investors on Friday. Gabelli analyst J. Bergner now expects that the industrial products company will post earnings of $5.40 per share for the year, up from their previous forecast of $5.30. Gabelli has a “Buy” rating and a $94.00 price objective on the stock.

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MSM has been the subject of several other reports. Credit Suisse Group reduced their price objective on MSC Industrial Direct from $100.00 to $93.00 and set an “outperform” rating for the company in a report on Thursday, July 13th. Zacks Investment Research lowered MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Friday, July 14th. Robert W. Baird reissued a “neutral” rating and set a $85.00 price objective (down from $92.00) on shares of MSC Industrial Direct in a report on Thursday, July 13th. BMO Capital Markets reduced their price objective on MSC Industrial Direct from $98.00 to $87.00 and set a “market perform” rating for the company in a report on Friday, July 14th. Finally, BidaskClub raised MSC Industrial Direct from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 5th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $88.38.

MSC Industrial Direct (NYSE:MSM) traded up 3.86% during mid-day trading on Monday, reaching $78.49. The company had a trading volume of 878,310 shares. MSC Industrial Direct has a 12-month low of $65.42 and a 12-month high of $105.70. The stock has a 50-day moving average of $72.65 and a 200 day moving average of $80.23. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 19.57 and a beta of 0.53.

Several institutional investors have recently bought and sold shares of the company. Leith Wheeler Investment Counsel Ltd. boosted its holdings in shares of MSC Industrial Direct by 30.9% in the third quarter. Leith Wheeler Investment Counsel Ltd. now owns 21,247 shares of the industrial products company’s stock worth $1,854,000 after acquiring an additional 5,010 shares during the period. WINTON GROUP Ltd boosted its holdings in shares of MSC Industrial Direct by 52.2% in the second quarter. WINTON GROUP Ltd now owns 53,402 shares of the industrial products company’s stock worth $4,590,000 after acquiring an additional 18,313 shares during the period. Koch Industries Inc. boosted its holdings in shares of MSC Industrial Direct by 10,738.5% in the second quarter. Koch Industries Inc. now owns 284,620 shares of the industrial products company’s stock worth $281,000 after acquiring an additional 281,994 shares during the period. Grandeur Peak Global Advisors LLC boosted its holdings in shares of MSC Industrial Direct by 73.4% in the second quarter. Grandeur Peak Global Advisors LLC now owns 147,425 shares of the industrial products company’s stock worth $12,673,000 after acquiring an additional 62,425 shares during the period. Finally, Ameritas Investment Partners Inc. boosted its holdings in shares of MSC Industrial Direct by 2.0% in the second quarter. Ameritas Investment Partners Inc. now owns 13,492 shares of the industrial products company’s stock worth $1,160,000 after acquiring an additional 271 shares during the period. 75.59% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Philip Peller purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, July 19th. The stock was purchased at an average cost of $72.00 per share, with a total value of $72,000.00. Following the completion of the acquisition, the director now directly owns 2,422 shares of the company’s stock, valued at $174,384. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 31.28% of the stock is owned by company insiders.

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.

Earnings History and Estimates for MSC Industrial Direct (NYSE:MSM)

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