JPMorgan Chase & Co. Upgrades MSC Industrial Direct (NYSE:MSM) to "Overweight"

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

A number of other brokerages have also recently weighed in on MSM. Wolfe Research upgraded shares of MSC Industrial Direct to a "strong-buy" rating in a report on Sunday, April 6th. Loop Capital decreased 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. Finally, Robert W. Baird cut their price objective on MSC Industrial Direct from $90.00 to $84.00 and set a "neutral" rating on the stock in a research report on Friday, April 4th. Five investment 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 company's stock. Based on data from MarketBeat, MSC Industrial Direct has an average rating of "Hold" and an average price target of $86.00.

MSC Industrial Direct Trading Down 0.9%

MSC Industrial Direct stock traded down $0.76 during trading on Tuesday, hitting $81.23. The company had a trading volume of 461,112 shares, compared to its average volume of 640,578. The stock has a market cap of $4.53 billion, a price-to-earnings ratio of 19.39 and a beta of 0.90. The company has a current ratio of 1.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. MSC Industrial Direct has a 1-year low of $68.10 and a 1-year high of $90.81. The company's 50 day simple moving average is $77.46 and its 200-day simple moving average is $79.62.

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

MSC Industrial Direct Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th were issued a $0.85 dividend. The ex-dividend date was Wednesday, April 9th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.19%. MSC Industrial Direct's payout ratio is 89.71%.

Insider Transactions at MSC Industrial Direct

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MSM. Headlands Technologies LLC purchased a new position in shares of MSC Industrial Direct during the fourth quarter worth approximately $25,000. Clearstead Trust LLC acquired a new position in MSC Industrial Direct in the 1st quarter valued at about $25,000. Investment Management Corp VA ADV increased its position in MSC Industrial Direct by 207.8% in the 1st quarter. Investment Management Corp VA ADV now owns 397 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 268 shares during the period. Neo Ivy Capital Management acquired a new stake in MSC Industrial Direct during the 1st quarter worth approximately $32,000. Finally, Allworth Financial LP grew its stake in shares of MSC Industrial Direct by 412.0% in the 4th quarter. Allworth Financial LP now owns 425 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 342 shares during the last quarter. 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.