Brokerages Set MSC Industrial Direct Company, Inc. (NYSE:MSM) Price Target at $90.33

Key Points

• MSC Industrial Direct has received a consensus recommendation of "Moderate Buy" from six brokerages, with an average target price of $90.33 over the next 12 months.
• In its recent earnings report, the company posted $1.08 earnings per share, exceeding the forecast by $0.05, although revenue fell 0.8% year-over-year.
• The company has declared a quarterly dividend of $0.85, resulting in an annualized dividend yield of 3.7%, with a payout ratio of 96.05%.

Shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the six research firms that are covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $90.3333.

MSM has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised MSC Industrial Direct from a "neutral" rating to an "overweight" rating and upped their target price for the company from $73.00 to $89.00 in a research report on Tuesday, May 27th. Robert W. Baird upped their target price on MSC Industrial Direct from $84.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Loop Capital upped their target price on MSC Industrial Direct from $74.00 to $84.00 and gave the company a "hold" rating in a research report on Wednesday, July 2nd. Industrial Alliance Securities set a $89.00 target price on MSC Industrial Direct in a research report on Tuesday, May 27th. Finally, Stephens upped their target price on MSC Industrial Direct from $85.00 to $90.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 2nd.

MSC Industrial Direct Stock Down 1.1%

MSC Industrial Direct stock traded down $0.99 during midday trading on Tuesday, hitting $91.31. 343,057 shares of the company were exchanged, compared to its average volume of 440,086. The company's fifty day moving average price is $88.71 and its 200-day moving average price is $82.55. The company has a market cap of $5.08 billion, a PE ratio of 25.79 and a beta of 0.95. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.92 and a quick ratio of 0.91. MSC Industrial Direct has a fifty-two week low of $68.10 and a fifty-two week high of $94.31.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last announced its earnings results on Tuesday, July 1st. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.03 by $0.05. MSC Industrial Direct had a return on equity of 14.99% and a net margin of 5.30%.The company had revenue of $971.15 million for the quarter, compared to analyst estimates of $969.72 million. During the same period in the prior year, the company posted $1.33 EPS. MSC Industrial Direct's quarterly revenue was down .8% on a year-over-year basis. On average, research analysts predict that MSC Industrial Direct will post 3.57 EPS for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Wednesday, July 9th. MSC Industrial Direct's dividend payout ratio is currently 96.05%.

Insider Activity

In related news, SVP Kimberly Shacklett sold 2,130 shares of the company's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $92.00, for a total transaction of $195,960.00. Following the sale, the senior vice president directly owned 14,657 shares of the company's stock, valued at approximately $1,348,444. This represents a 12.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 18.30% of the company's stock.

Institutional Investors Weigh In On MSC Industrial Direct

Several institutional investors and hedge funds have recently made changes to their positions in the company. Osaic Holdings Inc. raised its position in shares of MSC Industrial Direct by 44.2% during the 2nd quarter. Osaic Holdings Inc. now owns 20,480 shares of the industrial products company's stock valued at $1,744,000 after acquiring an additional 6,274 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of MSC Industrial Direct during the 2nd quarter valued at approximately $1,352,000. State of Wyoming acquired a new stake in shares of MSC Industrial Direct during the 2nd quarter valued at approximately $242,000. Hudson Bay Capital Management LP acquired a new stake in shares of MSC Industrial Direct during the 2nd quarter valued at approximately $454,000. Finally, Evergreen Capital Management LLC raised its position in shares of MSC Industrial Direct by 46.7% during the 2nd quarter. Evergreen Capital Management LLC now owns 6,191 shares of the industrial products company's stock valued at $526,000 after acquiring an additional 1,972 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.