Credit Suisse Group restated their outperform rating on shares of MSC Industrial Direct (NYSE:MSM) in a report released on Tuesday, January 9th, The Fly reports. Credit Suisse Group currently has a $112.00 price target on the industrial products company’s stock, up from their prior price target of $100.00.
Several other brokerages also recently weighed in on MSM. Susquehanna Bancshares reiterated a hold rating and issued a $92.00 price objective on shares of MSC Industrial Direct in a research report on Wednesday, January 3rd. Zacks Investment Research downgraded shares of MSC Industrial Direct from a buy rating to a hold rating in a research report on Thursday, January 4th. UBS Group downgraded shares of MSC Industrial Direct from a strong-buy rating to an outperform rating in a research report on Thursday, January 4th. Raymond James Financial restated an outperform rating and set a $105.00 price target (up from $95.00) on shares of MSC Industrial Direct in a research report on Thursday, January 4th. They noted that the move was a valuation call. Finally, Stifel Nicolaus restated a hold rating and set a $93.00 price target on shares of MSC Industrial Direct in a research report on Monday, December 11th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. MSC Industrial Direct currently has a consensus rating of Hold and an average price target of $95.92.
MSC Industrial Direct (NYSE MSM) opened at $93.51 on Tuesday. The firm has a market cap of $5,300.09 and a price-to-earnings ratio of 22.68. The company has a current ratio of 1.92, a quick ratio of 1.04 and a debt-to-equity ratio of 0.16. MSC Industrial Direct has a fifty-two week low of $65.42 and a fifty-two week high of $105.70.
MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings results on Wednesday, January 10th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.06 by ($0.01). MSC Industrial Direct had a return on equity of 19.37% and a net margin of 7.97%. The business had revenue of $768.60 million during the quarter, compared to the consensus estimate of $770.95 million. During the same quarter in the previous year, the business posted $0.95 earnings per share. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. sell-side analysts predict that MSC Industrial Direct will post 5 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 30th. Investors of record on Tuesday, January 16th were given a dividend of $0.58 per share. The ex-dividend date was Friday, January 12th. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.48. This represents a $2.32 dividend on an annualized basis and a yield of 2.48%. MSC Industrial Direct’s payout ratio is presently 56.04%.
MSC Industrial Direct announced that its board has initiated a share buyback plan on Wednesday, January 10th that allows the company to repurchase 2,000,000 shares. This repurchase authorization allows the industrial products company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
In other news, CFO Rustom Jilla sold 2,500 shares of the business’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $99.00, for a total value of $247,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Charles Bonomo sold 14,946 shares of the business’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $98.79, for a total transaction of $1,476,515.34. The disclosure for this sale can be found here. Insiders sold 975,112 shares of company stock valued at $89,557,641 over the last quarter. Corporate insiders own 31.28% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Cerebellum GP LLC bought a new position in MSC Industrial Direct during the fourth quarter worth $127,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in MSC Industrial Direct by 8.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,539 shares of the industrial products company’s stock valued at $132,000 after buying an additional 123 shares during the period. PNC Financial Services Group Inc. increased its holdings in MSC Industrial Direct by 0.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,577 shares of the industrial products company’s stock valued at $136,000 after buying an additional 8 shares during the period. Cutler Group LP increased its holdings in MSC Industrial Direct by 457.8% in the 4th quarter. Cutler Group LP now owns 1,431 shares of the industrial products company’s stock valued at $138,000 after buying an additional 1,831 shares during the period. Finally, QS Investors LLC increased its holdings in MSC Industrial Direct by 0.5% in the 2nd quarter. QS Investors LLC now owns 1,749 shares of the industrial products company’s stock valued at $150,000 after buying an additional 8 shares during the period. 75.35% of the stock is currently owned by institutional investors and hedge funds.
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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.
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