MSC Industrial Direct (NYSE:MSM) Given New $80.00 Price Target at Raymond James

MSC Industrial Direct (NYSE:MSM) had its target price reduced by Raymond James from $90.00 to $80.00 in a research note published on Thursday morning, BenzingaRatingsTable reports. They currently have an outperform rating on the industrial products company’s stock.

MSM has been the topic of a number of other reports. Northcoast Research reissued a buy rating on shares of MSC Industrial Direct in a report on Thursday, April 11th. BMO Capital Markets lowered their price target on MSC Industrial Direct from $90.00 to $86.00 and set a market perform rating on the stock in a report on Thursday, April 11th. ValuEngine raised VESTAS WIND SYS/ADR from a hold rating to a buy rating in a report on Thursday, May 9th. Gordon Haskett cut MSC Industrial Direct from a buy rating to a hold rating and set a $72.02 price target on the stock. in a report on Monday, June 10th. Finally, Zacks Investment Research raised SCHNEIDER ELEC /ADR from a hold rating to a buy rating and set a $20.00 price target on the stock in a report on Friday, July 5th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $80.70.

MSM stock opened at $72.55 on Thursday. MSC Industrial Direct has a twelve month low of $67.25 and a twelve month high of $90.25. The company has a current ratio of 2.50, a quick ratio of 1.18 and a debt-to-equity ratio of 0.20. The stock has a market cap of $4.00 billion, a PE ratio of 13.66, a P/E/G ratio of 1.34 and a beta of 0.94. The company’s 50-day moving average is $72.39.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data on Wednesday, July 10th. The industrial products company reported $1.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.50 by ($0.05). MSC Industrial Direct had a net margin of 8.79% and a return on equity of 21.08%. The company had revenue of $866.50 million for the quarter, compared to analysts’ expectations of $881.62 million. During the same period in the previous year, the firm earned $1.39 earnings per share. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. As a group, equities analysts forecast that MSC Industrial Direct will post 5.33 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 6th. Investors of record on Tuesday, July 23rd will be issued a $0.75 dividend. The ex-dividend date is Monday, July 22nd. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.63. This represents a $3.00 dividend on an annualized basis and a yield of 4.14%. MSC Industrial Direct’s payout ratio is currently 49.61%.

In other MSC Industrial Direct news, EVP Douglas E. Jones sold 2,126 shares of MSC Industrial Direct stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $83.50, for a total value of $177,521.00. Following the sale, the executive vice president now owns 7,496 shares of the company’s stock, valued at approximately $625,916. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Steven N. Baruch sold 5,404 shares of MSC Industrial Direct stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $82.00, for a total value of $443,128.00. The disclosure for this sale can be found here. 27.96% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in MSM. LPL Financial LLC increased its stake in MSC Industrial Direct by 2.0% in the 4th quarter. LPL Financial LLC now owns 6,381 shares of the industrial products company’s stock worth $491,000 after acquiring an additional 128 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in MSC Industrial Direct by 25.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,151 shares of the industrial products company’s stock worth $89,000 after acquiring an additional 231 shares during the last quarter. Martingale Asset Management L P bought a new stake in MSC Industrial Direct in the 4th quarter worth approximately $736,000. Citigroup Inc. increased its stake in MSC Industrial Direct by 16.0% in the 4th quarter. Citigroup Inc. now owns 13,921 shares of the industrial products company’s stock worth $1,071,000 after acquiring an additional 1,925 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in MSC Industrial Direct in the 4th quarter worth approximately $308,000. 76.11% of the stock is currently owned by institutional investors and hedge funds.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products 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 products, 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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Analyst Recommendations for MSC Industrial Direct (NYSE:MSM)

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