MSC Industrial Direct (NYSE:MSM) Stock Price Expected to Rise, Loop Capital Analyst Says

MSC Industrial Direct (NYSE:MSM) had its price objective raised by Loop Capital from $74.00 to $84.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has a hold rating on the industrial products company’s stock.

Other equities research analysts have also recently issued reports about the company. Stephens lifted their price objective on MSC Industrial Direct from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Robert W. Baird upped their target price on MSC Industrial Direct from $84.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday. Wolfe Research upgraded MSC Industrial Direct to a “strong-buy” rating in a research note on Sunday, April 6th. Industrial Alliance Securities set a $89.00 price objective on MSC Industrial Direct in a research note on Tuesday, May 27th. Finally, JPMorgan Chase & Co. raised MSC Industrial Direct from a “neutral” rating to an “overweight” rating and raised their target price for the company from $73.00 to $89.00 in a report on Tuesday, May 27th. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.33.

MSC Industrial Direct Price Performance

Shares of NYSE:MSM opened at $89.97 on Wednesday. MSC Industrial Direct has a 1-year low of $68.10 and a 1-year high of $90.85. The firm has a market capitalization of $5.01 billion, a PE ratio of 25.42 and a beta of 0.87. The business’s 50 day moving average is $81.07 and its 200-day moving average is $79.49. The company has a current ratio of 1.92, a quick ratio of 0.88 and a debt-to-equity ratio of 0.21.

MSC Industrial Direct (NYSE:MSM) last posted its earnings results on Tuesday, July 1st. The industrial products company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.03 by $0.05. The business had revenue of $971.15 million during the quarter, compared to the consensus estimate of $969.72 million. MSC Industrial Direct had a return on equity of 14.99% and a net margin of 5.30%. MSC Industrial Direct’s revenue was down .8% on a year-over-year basis. During the same quarter last year, the company earned $1.33 EPS. Sell-side analysts predict that MSC Industrial Direct will post 3.57 earnings per share for the current year.

MSC Industrial Direct Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend is Wednesday, July 9th. MSC Industrial Direct’s payout ratio is presently 89.71%.

Insider Buying and Selling

In related news, Director Mitchell Jacobson bought 27,642 shares of the business’s stock in a transaction on Tuesday, April 8th. The shares were purchased at an average cost of $69.77 per share, with a total value of $1,928,582.34. Following the acquisition, the director owned 1,951,725 shares of the company’s stock, valued at $136,171,853.25. This represents a 1.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 18.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MSM. Clearstead Trust LLC bought a new stake in MSC Industrial Direct in the 1st quarter valued at about $25,000. Headlands Technologies LLC bought a new stake in MSC Industrial Direct in the 4th quarter valued at about $25,000. Investment Management Corp VA ADV increased its holdings in MSC Industrial Direct by 207.8% during the 1st quarter. Investment Management Corp VA ADV now owns 397 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 268 shares in the last quarter. Neo Ivy Capital Management bought a new stake in MSC Industrial Direct during the 1st quarter worth approximately $32,000. Finally, Farther Finance Advisors LLC increased its holdings in MSC Industrial Direct by 895.0% during the 1st quarter. Farther Finance Advisors LLC now owns 597 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 537 shares in the last quarter. 79.26% of the stock is owned by institutional investors and hedge funds.

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.