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

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

A number of other equities analysts have also weighed in on the company. 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 research report on Wednesday. Stephens upped their price objective on shares of MSC Industrial Direct from $85.00 to $90.00 and gave the stock an "equal weight" rating in a report on Wednesday. Industrial Alliance Securities set a $89.00 price objective on shares of MSC Industrial Direct in a research note on Tuesday, May 27th. JPMorgan Chase & Co. upgraded shares of MSC Industrial Direct from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $73.00 to $89.00 in a report on Tuesday, May 27th. Finally, Wolfe Research upgraded shares of MSC Industrial Direct to a "strong-buy" rating in a report on Sunday, April 6th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, MSC Industrial Direct presently has a consensus rating of "Moderate Buy" and a consensus price target of $90.33.

MSC Industrial Direct Stock Up 0.4%

Shares of NYSE MSM traded up $0.36 during trading on Wednesday, hitting $89.97. 706,491 shares of the company traded hands, compared to its average volume of 618,461. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of 25.42 and a beta of 0.87. The business's fifty day moving average is $81.07 and its 200 day moving average is $79.50. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.88 and a current ratio of 1.92. MSC Industrial Direct has a fifty-two week low of $68.10 and a fifty-two week high of $90.85.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last issued its earnings results on Tuesday, July 1st. The industrial products company reported $1.08 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 business had revenue of $971.15 million during the quarter, compared to analyst estimates of $969.72 million. During the same period in the previous year, the company posted $1.33 EPS. The firm's revenue was down .8% compared to the same quarter last year. Equities research analysts predict that MSC Industrial Direct will post 3.57 earnings per share for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.78%. The ex-dividend date is Wednesday, July 9th. MSC Industrial Direct's dividend payout ratio (DPR) is presently 96.05%.

Insider Transactions at MSC Industrial Direct

In other news, Director Mitchell Jacobson bought 27,642 shares of MSC Industrial Direct stock in a transaction dated Tuesday, April 8th. The stock was purchased at an average price of $69.77 per share, for a total transaction of $1,928,582.34. Following the purchase, the director directly owned 1,951,725 shares in the company, valued at $136,171,853.25. The trade was a 1.44% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 18.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MSC Industrial Direct

A number of hedge funds and other institutional investors have recently modified their holdings of MSM. Headlands Technologies LLC purchased a new stake in shares of MSC Industrial Direct during the 4th quarter valued at $25,000. Clearstead Trust LLC bought a new position in MSC Industrial Direct during the first quarter valued at about $25,000. Investment Management Corp VA ADV increased its holdings in MSC Industrial Direct by 207.8% during the first quarter. Investment Management Corp VA ADV now owns 397 shares of the industrial products company's stock worth $31,000 after buying an additional 268 shares during the last quarter. Neo Ivy Capital Management bought a new stake in MSC Industrial Direct in the first quarter worth about $32,000. Finally, Farther Finance Advisors LLC boosted its stake in MSC Industrial Direct by 895.0% in the first quarter. Farther Finance Advisors LLC now owns 597 shares of the industrial products company's stock valued at $46,000 after acquiring an additional 537 shares during the last quarter. Hedge funds and other institutional investors own 79.26% 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 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.