MSC Industrial Direct Company, Inc. (NYSE:MSM) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Nine analysts give MSC Industrial Direct an average recommendation of “Hold”, with a 12-month average price target of $90.50.
• The company missed its latest quarter estimates, reporting $0.82 EPS versus $0.84 expected and revenue of $917.8M (consensus $931.7M), though revenue was up 2.9% year-over-year.
• MSC declared a quarterly dividend of $0.87 (annualized $3.48) for a 3.6% yield, with a dividend payout ratio of about 93.6%.

MSC Industrial Direct Company, Inc. (NYSE:MSM - Get Free Report) has been assigned an average recommendation of "Hold" from the nine analysts that are presently covering the stock, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold rating. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $90.50.

Several research analysts have recently weighed in on MSM shares. KeyCorp reissued a "sector weight" rating on shares of MSC Industrial Direct in a research report on Thursday, January 8th. iA Financial set a $95.00 price objective on MSC Industrial Direct in a research report on Friday, February 6th. Robert W. Baird set a $94.00 price objective on MSC Industrial Direct in a research report on Thursday, January 8th. Weiss Ratings reissued a "hold (c)" rating on shares of MSC Industrial Direct in a research report on Wednesday, January 28th. Finally, Jefferies Financial Group reissued a "hold" rating and set a $85.00 price objective on shares of MSC Industrial Direct in a research report on Thursday, January 8th.

MSC Industrial Direct Stock Performance

MSM stock opened at $97.25 on Wednesday. The stock has a 50-day moving average price of $92.32 and a 200-day moving average price of $88.61. MSC Industrial Direct has a 1-year low of $74.30 and a 1-year high of $98.17. The company has a current ratio of 1.73, a quick ratio of 0.78 and a debt-to-equity ratio of 0.14. The firm has a market cap of $5.43 billion, a PE ratio of 26.14 and a beta of 0.79.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 1st. The industrial products company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.02). MSC Industrial Direct had a return on equity of 16.06% and a net margin of 5.42%.The business had revenue of $917.77 million during the quarter, compared to the consensus estimate of $931.69 million. During the same period last year, the business posted $0.72 earnings per share. The business's revenue was up 2.9% on a year-over-year basis. As a group, equities research analysts expect that MSC Industrial Direct will post 4.33 earnings per share for the current year.

MSC Industrial Direct Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 8th will be given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Wednesday, April 8th. MSC Industrial Direct's dividend payout ratio is 93.55%.

Hedge Funds Weigh In On MSC Industrial Direct

A number of institutional investors and hedge funds have recently made changes to their positions in MSM. Auto Owners Insurance Co boosted its position in shares of MSC Industrial Direct by 12,181.8% during the 4th quarter. Auto Owners Insurance Co now owns 3,254,670 shares of the industrial products company's stock worth $273,718,000 after purchasing an additional 3,228,170 shares in the last quarter. Norges Bank bought a new position in shares of MSC Industrial Direct during the 4th quarter worth about $59,380,000. Alberta Investment Management Corp boosted its position in shares of MSC Industrial Direct by 213.7% during the 4th quarter. Alberta Investment Management Corp now owns 619,600 shares of the industrial products company's stock worth $52,108,000 after purchasing an additional 422,100 shares in the last quarter. SG Capital Management LLC boosted its position in shares of MSC Industrial Direct by 867.0% during the 3rd quarter. SG Capital Management LLC now owns 360,988 shares of the industrial products company's stock worth $33,261,000 after purchasing an additional 323,659 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its position in shares of MSC Industrial Direct by 3,393.6% during the 4th quarter. Corient Private Wealth LLC now owns 275,432 shares of the industrial products company's stock worth $23,164,000 after purchasing an additional 267,548 shares in the last quarter. Institutional investors own 79.26% of the company's stock.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc NYSE: MSM is a leading distributor of metalworking and maintenance, repair and operations (MRO) products serving a broad range of industrial customers across North America. The company offers an extensive portfolio of cutting tools, abrasives, measuring and inspection instruments, fasteners, safety supplies and other essential components used in manufacturing, metalworking and production environments. MSC delivers products through a multi-channel distribution network, including an extensive branch system, e-commerce platform and dedicated sales force.

In addition to its core product offerings, MSC Industrial Direct provides value-added services designed to improve productivity and reduce downtime for its customers.

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