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

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

Several other analysts have also recently commented on MSM. JPMorgan Chase & Co. upgraded MSC Industrial Direct from a "neutral" rating to an "overweight" rating and upped their target price for the company from $73.00 to $89.00 in a report on Tuesday, May 27th. Industrial Alliance Securities set a $89.00 price target on shares of MSC Industrial Direct in a research report on Tuesday, May 27th. Loop Capital lowered their price objective on 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. Wolfe Research upgraded MSC Industrial Direct to a "strong-buy" rating in a research report on Sunday, April 6th. Finally, Robert W. Baird lowered their target price on MSC Industrial Direct from $90.00 to $84.00 and set a "neutral" rating for the company in a report on Friday, April 4th. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, MSC Industrial Direct presently has an average rating of "Moderate Buy" and an average price target of $90.33.

MSC Industrial Direct Stock Performance

MSM traded down $0.76 on Wednesday, reaching $89.56. The company had a trading volume of 1,124,968 shares, compared to its average volume of 624,916. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.88 and a current ratio of 1.92. The company's fifty day moving average is $80.31 and its 200 day moving average is $79.31. MSC Industrial Direct has a fifty-two week low of $68.10 and a fifty-two week high of $91.05. The stock has a market cap of $4.99 billion, a P/E ratio of 23.63 and a beta of 0.87.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last posted its quarterly 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 16.06% and a net margin of 5.69%. The business had revenue of $971.15 million during the quarter, compared to the consensus estimate of $969.72 million. During the same quarter in the previous year, the firm earned $1.33 earnings per share. MSC Industrial Direct's revenue for the quarter was down .8% compared to the same quarter last year. As a group, analysts predict that MSC Industrial Direct will post 3.57 earnings per share for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The firm 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 $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date is Wednesday, July 9th. MSC Industrial Direct's dividend payout ratio (DPR) is 89.71%.

Insider Transactions at MSC Industrial Direct

In related news, Director Mitchell Jacobson bought 27,642 shares of the company's stock in a transaction dated Tuesday, April 8th. The shares were bought at an average price of $69.77 per share, for a total transaction of $1,928,582.34. Following the completion of the acquisition, the director directly owned 1,951,725 shares of the company's stock, valued at $136,171,853.25. This trade represents a 1.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 18.30% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MSM. Norges Bank bought a new position in shares of MSC Industrial Direct during the 4th quarter worth approximately $34,735,000. Farther Finance Advisors LLC increased its position in shares of MSC Industrial Direct by 895.0% during 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. Two Sigma Investments LP bought a new stake in MSC Industrial Direct during the fourth quarter worth $1,463,000. Bank of New York Mellon Corp boosted its position in MSC Industrial Direct by 9.7% in the fourth quarter. Bank of New York Mellon Corp now owns 793,184 shares of the industrial products company's stock worth $59,243,000 after purchasing an additional 70,076 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in MSC Industrial Direct in the 4th quarter valued at $920,000. 79.26% of the stock is owned by institutional investors.

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.