MSC Industrial Direct (NYSE:MSM) Downgraded to Hold at Gabelli

Gabelli downgraded shares of MSC Industrial Direct (NYSE:MSM) from a buy rating to a hold rating in a research report released on Friday, March 16th, MarketBeat reports. The firm currently has $99.00 target price on the industrial products company’s stock.

MSM has been the subject of several other reports. Credit Suisse Group reiterated an outperform rating and issued a $112.00 target price (up from $100.00) on shares of MSC Industrial Direct in a report on Tuesday, January 9th. Zacks Investment Research cut shares of MSC Industrial Direct from a buy rating to a hold rating in a research note on Thursday, January 4th. Stifel Nicolaus reiterated a hold rating and issued a $93.00 target price on shares of MSC Industrial Direct in a research note on Monday, December 11th. Northcoast Research raised shares of MSC Industrial Direct from a neutral rating to a buy rating in a research report on Friday, December 15th. Finally, UBS lowered shares of MSC Industrial Direct from a strong-buy rating to an outperform rating in a research report on Thursday, January 4th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. MSC Industrial Direct currently has an average rating of Hold and a consensus price target of $96.93.

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NYSE:MSM traded down $1.24 during mid-day trading on Friday, hitting $92.00. The stock had a trading volume of 855,353 shares, compared to its average volume of 622,029. The company has a market cap of $5,263.96, a PE ratio of 22.72, a P/E/G ratio of 1.34 and a beta of 0.60. MSC Industrial Direct has a 52 week low of $65.42 and a 52 week high of $99.94. The company has a quick ratio of 1.04, a current ratio of 1.92 and a debt-to-equity ratio of 0.16.

MSC Industrial Direct (NYSE:MSM) last released its 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 for the quarter, compared to analyst estimates of $770.95 million. MSC Industrial Direct had a net margin of 7.97% and a return on equity of 19.37%. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.95 EPS. equities analysts anticipate that MSC Industrial Direct will post 5.12 EPS for the current year.

MSC Industrial Direct declared that its board has authorized a share repurchase program on Wednesday, January 10th that permits the company to buyback 2,000,000 shares. This buyback authorization permits the industrial products company to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 17th will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Monday, April 16th. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 57.28%.

In other MSC Industrial Direct news, SVP Christopher Davanzo sold 12,046 shares of the firm’s stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $93.43, for a total transaction of $1,125,457.78. Following the completion of the sale, the senior vice president now owns 12,432 shares of the company’s stock, valued at approximately $1,161,521.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Charles Bonomo sold 14,946 shares of the firm’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $98.79, for a total value of $1,476,515.34. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 783,437 shares of company stock valued at $74,083,049. Insiders own 31.28% of the company’s stock.

A number of hedge funds have recently bought and sold shares of MSM. Bank of New York Mellon Corp increased its position in MSC Industrial Direct by 105.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,179,178 shares of the industrial products company’s stock worth $89,112,000 after buying an additional 604,873 shares during the period. Anchor Bolt Capital LP bought a new position in shares of MSC Industrial Direct in the fourth quarter worth $37,496,000. Schroder Investment Management Group increased its position in shares of MSC Industrial Direct by 52.7% in the third quarter. Schroder Investment Management Group now owns 964,486 shares of the industrial products company’s stock worth $72,250,000 after purchasing an additional 332,893 shares during the period. Raymond James & Associates increased its position in shares of MSC Industrial Direct by 653.3% in the fourth quarter. Raymond James & Associates now owns 306,544 shares of the industrial products company’s stock worth $29,631,000 after purchasing an additional 265,850 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of MSC Industrial Direct by 126.7% in the third quarter. Principal Financial Group Inc. now owns 441,321 shares of the industrial products company’s stock worth $33,350,000 after purchasing an additional 246,659 shares during the period. Hedge funds and other institutional investors own 75.35% of the company’s stock.

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MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes various ranges of metalworking and maintenance, repair, and operations (MRO) products primarily in the United States, Canada, and the United Kingdom. The company's MRO products comprise 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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