MSC Industrial Direct (NYSE:MSM) Rating Increased to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of MSC Industrial Direct (NYSE:MSM - Free Report) from a neutral rating to an overweight rating in a research note released on Tuesday morning, MarketBeat reports. The brokerage currently has $89.00 price objective on the industrial products company's stock, up from their prior price objective of $73.00.

Other research analysts have also issued research reports about the company. Wolfe Research upgraded MSC Industrial Direct to a "strong-buy" rating in a research report on Sunday, April 6th. Robert W. Baird cut 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, April 4th. Finally, Loop Capital lowered their price target on shares of MSC Industrial Direct from $83.00 to $74.00 and set a "hold" rating for the company in a research report on Friday, April 4th. Six research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $86.00.

MSC Industrial Direct Stock Performance

MSM stock traded down $1.09 during trading on Tuesday, hitting $81.88. 619,666 shares of the company's stock traded hands, compared to its average volume of 640,804. The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of 19.54 and a beta of 0.90. MSC Industrial Direct has a 52 week low of $68.10 and a 52 week high of $90.81. The stock has a fifty day moving average price of $77.39 and a two-hundred day moving average price of $79.74. The company has a quick ratio of 0.91, a current ratio of 1.93 and a debt-to-equity ratio of 0.21.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last announced its quarterly earnings data on Thursday, April 3rd. The industrial products company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.04. MSC Industrial Direct had a net margin of 6.21% and a return on equity of 17.80%. The business had revenue of $891.70 million during the quarter, compared to the consensus estimate of $908.30 million. During the same quarter in the prior year, the firm earned $1.18 EPS. The company's revenue for the quarter was down 4.7% compared to the same quarter last year. As a group, equities analysts anticipate that MSC Industrial Direct will post 3.57 EPS for the current fiscal year.

MSC Industrial Direct Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Wednesday, April 9th. This represents a $3.40 annualized dividend and a dividend yield of 4.15%. MSC Industrial Direct's dividend payout ratio is currently 89.71%.

Insider Transactions at MSC Industrial Direct

In related news, Director Mitchell Jacobson acquired 27,642 shares of MSC Industrial Direct stock in a transaction that occurred on Tuesday, April 8th. The stock was acquired at an average price of $69.77 per share, with a total value of $1,928,582.34. Following the completion of the acquisition, the director now directly owns 1,951,725 shares of the company's stock, valued at $136,171,853.25. This trade represents a 1.44% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 18.30% of the company's stock.

Institutional Investors Weigh In On MSC Industrial Direct

Several institutional investors have recently bought and sold shares of MSM. Headlands Technologies LLC acquired a new stake in MSC Industrial Direct in the fourth quarter worth about $25,000. Clearstead Trust LLC acquired a new stake in MSC Industrial Direct in the first quarter worth about $25,000. Investment Management Corp VA ADV lifted its holdings in MSC Industrial Direct by 207.8% in the first 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 during the period. Neo Ivy Capital Management acquired a new stake in MSC Industrial Direct in the first quarter worth about $32,000. Finally, Allworth Financial LP lifted its holdings in MSC Industrial Direct by 412.0% in the fourth quarter. Allworth Financial LP now owns 425 shares of the industrial products company's stock worth $35,000 after purchasing an additional 342 shares during the period. Institutional investors and hedge funds 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.