MSC Industrial Direct (NYSE:MSM - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a research report issued on Wednesday.
Other equities analysts also recently issued research reports about the stock. KeyCorp cut their price target on shares of MSC Industrial Direct from $105.00 to $102.00 and set an "overweight" rating on the stock in a report on Wednesday, January 10th. Stephens reiterated an "overweight" rating and issued a $110.00 price objective on shares of MSC Industrial Direct in a research note on Monday, April 1st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $107.00.
Read Our Latest Research Report on MSC Industrial Direct
MSC Industrial Direct Trading Down 1.8 %
NYSE:MSM traded down $1.71 during mid-day trading on Wednesday, hitting $92.92. 692,617 shares of the stock traded hands, compared to its average volume of 489,971. The company has a quick ratio of 0.92, a current ratio of 2.01 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of 16.68 and a beta of 0.95. MSC Industrial Direct has a 52 week low of $85.20 and a 52 week high of $105.77. The firm's 50 day moving average is $98.20 and its two-hundred day moving average is $98.28.
MSC Industrial Direct (NYSE:MSM - Get Free Report) last released its quarterly earnings results on Thursday, March 28th. The industrial products company reported $1.18 EPS for the quarter, topping the consensus estimate of $1.16 by $0.02. The firm had revenue of $935.30 million during the quarter, compared to analyst estimates of $946.55 million. MSC Industrial Direct had a return on equity of 22.58% and a net margin of 7.89%. The business's revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.45 EPS. On average, equities research analysts predict that MSC Industrial Direct will post 5.83 earnings per share for the current year.
Insider Activity
In related news, CEO Erik Gershwind sold 7,500 shares of the firm's stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $96.00, for a total value of $720,000.00. Following the transaction, the chief executive officer now directly owns 1,432,038 shares of the company's stock, valued at approximately $137,475,648. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Erik Gershwind sold 7,500 shares of the company's stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $96.00, for a total transaction of $720,000.00. Following the completion of the sale, the chief executive officer now owns 1,432,038 shares of the company's stock, valued at $137,475,648. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mitchell Jacobson sold 18,746 shares of the firm's stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $97.63, for a total transaction of $1,830,171.98. Following the completion of the transaction, the director now directly owns 1,846,027 shares in the company, valued at $180,227,616.01. The disclosure for this sale can be found here. Insiders have sold 254,503 shares of company stock worth $24,841,663 in the last quarter. Corporate insiders own 18.80% of the company's stock.
Hedge Funds Weigh In On MSC Industrial Direct
A number of hedge funds have recently modified their holdings of MSM. Raymond James Financial Services Advisors Inc. lifted its position in shares of MSC Industrial Direct by 465.4% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 19,687 shares of the industrial products company's stock worth $1,678,000 after purchasing an additional 16,205 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of MSC Industrial Direct by 3.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,636 shares of the industrial products company's stock worth $1,162,000 after acquiring an additional 447 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of MSC Industrial Direct by 115.7% in the first quarter. PNC Financial Services Group Inc. now owns 1,514 shares of the industrial products company's stock valued at $128,000 after acquiring an additional 812 shares in the last quarter. Natixis Advisors L.P. raised its stake in shares of MSC Industrial Direct by 14.1% in the first quarter. Natixis Advisors L.P. now owns 24,042 shares of the industrial products company's stock valued at $2,049,000 after acquiring an additional 2,974 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in MSC Industrial Direct by 34.2% in the first quarter. MetLife Investment Management LLC now owns 30,438 shares of the industrial products company's stock valued at $2,594,000 after purchasing an additional 7,749 shares during the period. 79.26% of the stock is currently owned by hedge funds and other institutional investors.
About MSC Industrial Direct
(
Get Free Report)
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.
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