MSC Industrial Direct (NYSE:MSM) Given New $74.00 Price Target at Loop Capital

MSC Industrial Direct (NYSE:MSM) had its price target cut by Loop Capital from $83.00 to $74.00 in a report released on Friday,Benzinga reports. They currently have a hold rating on the industrial products company’s stock.

A number of other equities research analysts have also issued reports on MSM. Robert W. Baird reduced their target price on MSC Industrial Direct from $90.00 to $84.00 and set a “neutral” rating on the stock in a research note on Friday. Wolfe Research assumed coverage on MSC Industrial Direct in a research note on Thursday, January 16th. They set an “outperform” rating and a $95.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $82.20.

MSC Industrial Direct Price Performance

Shares of MSM opened at $71.19 on Friday. The firm has a market capitalization of $3.98 billion, a PE ratio of 16.99 and a beta of 0.89. The stock’s 50 day moving average is $79.50 and its two-hundred day moving average is $81.34. MSC Industrial Direct has a twelve month low of $70.13 and a twelve month high of $95.88. The company has a current ratio of 1.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21.

MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings data on Thursday, April 3rd. The industrial products company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.68 by $0.04. The business had revenue of $891.70 million for the quarter, compared to analyst estimates of $908.30 million. MSC Industrial Direct had a net margin of 6.21% and a return on equity of 17.80%. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.18 EPS. Research analysts anticipate that MSC Industrial Direct will post 3.57 earnings per share for the current year.

MSC Industrial Direct Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date is Wednesday, April 9th. MSC Industrial Direct’s payout ratio is 81.15%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MSM. Invesco Ltd. grew its holdings in MSC Industrial Direct by 127.5% in the fourth quarter. Invesco Ltd. now owns 1,206,811 shares of the industrial products company’s stock valued at $90,137,000 after purchasing an additional 676,238 shares during the period. Deprince Race & Zollo Inc. acquired a new stake in shares of MSC Industrial Direct during the 4th quarter worth $35,576,000. Norges Bank purchased a new position in shares of MSC Industrial Direct in the 4th quarter worth $34,735,000. First Trust Advisors LP boosted its holdings in MSC Industrial Direct by 29.2% in the fourth quarter. First Trust Advisors LP now owns 1,987,455 shares of the industrial products company’s stock valued at $148,443,000 after acquiring an additional 448,708 shares during the last quarter. Finally, Millennium Management LLC grew its position in MSC Industrial Direct by 138.1% during the fourth quarter. Millennium Management LLC now owns 366,792 shares of the industrial products company’s stock valued at $27,396,000 after acquiring an additional 212,730 shares during the period. Institutional investors and hedge funds own 79.26% of the company’s stock.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products and services in the United States, Canada, Mexico, the United Kingdom, and internationally. The company's MRO products include 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.