MSC Industrial Direct (NYSE:MSM) Given New $90.00 Price Target at Stephens

MSC Industrial Direct (NYSE:MSM - Free Report) had its price target raised by Stephens from $85.00 to $90.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an equal weight rating on the industrial products company's stock.

Other equities analysts have also recently issued reports about the stock. Robert W. Baird lowered their price objective on shares of MSC Industrial Direct from $90.00 to $84.00 and set a "neutral" rating for the company in a research report on Friday, April 4th. Loop Capital lowered their price objective 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. Industrial Alliance Securities set a $89.00 price objective on shares of MSC Industrial Direct in a research report on Tuesday, May 27th. JPMorgan Chase & Co. upgraded shares of MSC Industrial Direct from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $73.00 to $89.00 in a research report on Tuesday, May 27th. Finally, Wolfe Research upgraded shares of MSC Industrial Direct to a "strong-buy" rating in a research report on Sunday, April 6th. Three equities research 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $90.33.

MSC Industrial Direct Price Performance

Shares of MSC Industrial Direct stock traded up $0.36 on Wednesday, reaching $89.97. 706,491 shares of the stock were exchanged, compared to its average volume of 618,461. The firm's 50 day moving average is $81.07 and its 200-day moving average is $79.50. The firm has a market cap of $5.01 billion, a PE ratio of 25.42 and a beta of 0.87. MSC Industrial Direct has a one year low of $68.10 and a one year high of $90.85. 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 (NYSE:MSM - Get Free Report) last released its quarterly earnings data on Tuesday, July 1st. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.03 by $0.05. The business had revenue of $971.15 million during the quarter, compared to analysts' expectations of $969.72 million. MSC Industrial Direct had a net margin of 5.30% and a return on equity of 14.99%. The firm's quarterly revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.33 EPS. As a group, analysts anticipate that MSC Industrial Direct will post 3.57 EPS for the current fiscal year.

MSC Industrial Direct Announces Dividend

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

Insider Transactions at MSC Industrial Direct

In other MSC Industrial Direct news, Director Mitchell Jacobson purchased 27,642 shares of the firm's stock in a transaction on Tuesday, April 8th. The stock was purchased at an average cost of $69.77 per share, for a total transaction of $1,928,582.34. Following the transaction, the director 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 legal filing with the SEC, which is available at this hyperlink. Company insiders own 18.30% of the company's stock.

Institutional Investors Weigh In On MSC Industrial Direct

Several large investors have recently modified their holdings of MSM. Invesco Ltd. increased its position in shares of MSC Industrial Direct by 127.5% during the fourth quarter. Invesco Ltd. now owns 1,206,811 shares of the industrial products company's stock worth $90,137,000 after buying an additional 676,238 shares during the period. Victory Capital Management Inc. increased its position in shares of MSC Industrial Direct by 445.4% during the first quarter. Victory Capital Management Inc. now owns 779,800 shares of the industrial products company's stock worth $60,567,000 after buying an additional 636,827 shares during the period. Mackenzie Financial Corp increased its position in shares of MSC Industrial Direct by 6,108.1% during the first quarter. Mackenzie Financial Corp now owns 505,960 shares of the industrial products company's stock worth $39,298,000 after buying an additional 497,810 shares during the period. Deprince Race & Zollo Inc. acquired a new stake in shares of MSC Industrial Direct during the fourth quarter worth $35,576,000. Finally, Norges Bank acquired a new stake in shares of MSC Industrial Direct during the fourth quarter worth $34,735,000. 79.26% of the stock is currently owned by institutional investors and hedge funds.

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.