Stephens Reiterates “$114.00” Price Target for MSC Industrial Direct (MSM)

Stephens set a $114.00 price target on MSC Industrial Direct (NYSE:MSM) in a report issued on Wednesday. The brokerage currently has a buy rating on the industrial products company’s stock.

Several other research analysts have also recently issued reports on MSM. Credit Suisse Group set a $93.00 target price 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 target price on the stock in a report 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 target price on the stock in a report on Wednesday, October 11th. Stifel Nicolaus reiterated a hold rating and set a $93.00 target price on shares of MSC Industrial Direct in a report on Monday, December 11th. Finally, BMO Capital Markets reiterated a market perform rating on shares of MSC Industrial Direct in a report on Tuesday, September 12th. Two investment 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’s stock. MSC Industrial Direct presently has a consensus rating of Hold and an average target price of $95.54.

MSC Industrial Direct (NYSE MSM) opened at $94.75 on Wednesday. The company has a market cap of $5,365.60, a PE ratio of 22.98, a P/E/G ratio of 1.82 and a beta of 0.67. MSC Industrial Direct has a 12 month low of $65.42 and a 12 month high of $105.70. The company has a quick ratio of 0.97, a current ratio of 1.92 and a debt-to-equity ratio of 0.16.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings results 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). The company had revenue of $768.60 million during the quarter, compared to analysts’ expectations 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 period in the prior year, the business earned $0.95 EPS. analysts forecast that MSC Industrial Direct will post 4.54 earnings per share for the current fiscal year.

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

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 30th. Stockholders of record on Tuesday, January 16th will be issued a $0.58 dividend. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.48. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Friday, January 12th. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 46.38%.

In other news, Director Mitchell Jacobson sold 104,101 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $80.91, for a total value of $8,422,811.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 disclosure for this sale can be found here. Insiders sold a total of 237,587 shares of company stock worth $19,390,269 over the last 90 days. Company insiders own 31.28% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in shares of MSC Industrial Direct by 5.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,284,345 shares of the industrial products company’s stock valued at $246,031,000 after buying an additional 159,772 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of MSC Industrial Direct by 1,889.6% in the 3rd quarter. American Century Companies Inc. now owns 2,099,225 shares of the industrial products company’s stock valued at $158,638,000 after buying an additional 1,993,717 shares in the last quarter. State Street Corp boosted its holdings in shares of MSC Industrial Direct by 1.6% in the 2nd quarter. State Street Corp now owns 1,222,773 shares of the industrial products company’s stock valued at $105,113,000 after buying an additional 19,302 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of MSC Industrial Direct by 105.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,179,178 shares of the industrial products company’s stock valued at $89,112,000 after buying an additional 604,873 shares in the last quarter. Finally, Schroder Investment Management Group boosted its holdings in shares of MSC Industrial Direct by 52.7% in the 3rd quarter. Schroder Investment Management Group now owns 964,486 shares of the industrial products company’s stock valued at $72,250,000 after buying an additional 332,893 shares in the last quarter. Institutional investors and hedge funds own 75.55% of the company’s stock.

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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.

Analyst Recommendations for MSC Industrial Direct (NYSE:MSM)

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