MSC Industrial Direct (NYSE:MSM) Cut to Underperform at Raymond James

Raymond James cut shares of MSC Industrial Direct (NYSE:MSM) from a market perform rating to an underperform rating in a research report released on Thursday, Briefing.com Automated Import reports.

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Several other analysts also recently weighed in on the company. Buckingham Research lifted their target price on MSC Industrial Direct from $69.00 to $78.00 and gave the stock a neutral rating in a research report on Friday, October 25th. Stephens set a $76.00 target price on MSC Industrial Direct and gave the stock a hold rating in a research report on Friday, October 25th. Wells Fargo & Co set a $60.00 target price on MSC Industrial Direct and gave the stock a sell rating in a research report on Friday, October 25th. ValuEngine upgraded MSC Industrial Direct from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Finally, Zacks Investment Research upgraded MSC Industrial Direct from a sell rating to a hold rating in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. MSC Industrial Direct presently has an average rating of Hold and an average target price of $78.10.

Shares of NYSE:MSM traded down $0.34 on Thursday, hitting $75.30. 354,970 shares of the company’s stock were exchanged, compared to its average volume of 441,474. MSC Industrial Direct has a 12 month low of $64.59 and a 12 month high of $90.25. The stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 1.22 and a beta of 0.92. The business’s 50 day simple moving average is $72.15 and its two-hundred day simple moving average is $72.38. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.68 and a quick ratio of 1.43.

MSC Industrial Direct (NYSE:MSM) last released its earnings results on Thursday, October 24th. The industrial products company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.07. MSC Industrial Direct had a return on equity of 20.63% and a net margin of 8.59%. The business had revenue of $842.70 million during the quarter, compared to the consensus estimate of $837.97 million. During the same period last year, the company earned $1.29 earnings per share. The business’s revenue for the quarter was up .6% compared to the same quarter last year. Equities analysts forecast that MSC Industrial Direct will post 5.03 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.00 annualized dividend and a dividend yield of 3.98%. MSC Industrial Direct’s payout ratio is currently 56.71%.

In related news, CFO Rustom Jilla sold 7,907 shares of MSC Industrial Direct stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $75.51, for a total value of $597,057.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 27.96% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. First Hawaiian Bank raised its holdings in shares of MSC Industrial Direct by 22.6% in the second quarter. First Hawaiian Bank now owns 7,405 shares of the industrial products company’s stock valued at $550,000 after acquiring an additional 1,366 shares in the last quarter. Hamlin Capital Management LLC bought a new stake in shares of MSC Industrial Direct in the second quarter valued at about $52,364,000. HighTower Advisors LLC bought a new stake in shares of MSC Industrial Direct in the second quarter valued at about $302,000. Los Angeles Capital Management & Equity Research Inc. raised its holdings in shares of MSC Industrial Direct by 2.3% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 352,609 shares of the industrial products company’s stock valued at $26,185,000 after acquiring an additional 7,990 shares in the last quarter. Finally, Paradice Investment Management LLC raised its holdings in shares of MSC Industrial Direct by 23.7% in the second quarter. Paradice Investment Management LLC now owns 724,838 shares of the industrial products company’s stock valued at $53,826,000 after acquiring an additional 138,639 shares in the last quarter. Hedge funds and other institutional investors own 75.41% of the company’s stock.

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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