MSC Industrial Direct (NYSE:MSM) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of MSC Industrial Direct (NYSE:MSM) from a buy rating to a hold rating in a research note released on Saturday morning.

A number of other analysts have also issued reports on MSM. Robert W. Baird set a $94.00 target price on MSC Industrial Direct in a research report on Thursday, January 8th. KeyCorp reissued a “sector weight” rating on shares of MSC Industrial Direct in a research note on Thursday, January 8th. Zacks Research downgraded MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 3rd. JPMorgan Chase & Co. boosted their price target on shares of MSC Industrial Direct from $93.00 to $96.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. Finally, Wolfe Research lowered shares of MSC Industrial Direct from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $89.67.

MSC Industrial Direct Trading Up 4.7%

NYSE MSM opened at $88.33 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.73 and a quick ratio of 0.82. The stock has a market capitalization of $4.93 billion, a P/E ratio of 24.13 and a beta of 0.84. The firm’s 50-day moving average is $85.47 and its two-hundred day moving average is $87.33. MSC Industrial Direct has a 12 month low of $68.10 and a 12 month high of $94.31.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings results on Wednesday, January 7th. The industrial products company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. MSC Industrial Direct had a net margin of 5.37% and a return on equity of 15.73%. The business had revenue of $965.68 million during the quarter, compared to analysts’ expectations of $962.52 million. During the same period last year, the business earned $0.86 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, sell-side analysts anticipate that MSC Industrial Direct will post 3.57 earnings per share for the current year.

MSC Industrial Direct Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 28th. Stockholders of record on Wednesday, January 14th were given a dividend of $0.87 per share. The ex-dividend date of this dividend was Wednesday, January 14th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.9%. MSC Industrial Direct’s payout ratio is currently 95.08%.

Insider Buying and Selling

In other news, Director Philip Peller bought 6,666 shares of MSC Industrial Direct stock in a transaction that occurred on Thursday, November 13th. The shares were purchased at an average price of $90.14 per share, with a total value of $600,873.24. Following the completion of the acquisition, the director directly owned 9,537 shares in the company, valued at $859,665.18. The trade was a 232.18% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mitchell Jacobson purchased 22,870 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The stock was purchased at an average price of $84.96 per share, with a total value of $1,943,035.20. Following the purchase, the director directly owned 2,328,192 shares of the company’s stock, valued at $197,803,192.32. The trade was a 0.99% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 19.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MSC Industrial Direct

A number of institutional investors and hedge funds have recently modified their holdings of MSM. Altrius Capital Management Inc raised its stake in MSC Industrial Direct by 2.4% in the fourth quarter. Altrius Capital Management Inc now owns 58,861 shares of the industrial products company’s stock valued at $4,950,000 after buying an additional 1,405 shares in the last quarter. State of New Jersey Common Pension Fund D increased its holdings in shares of MSC Industrial Direct by 3.6% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 25,345 shares of the industrial products company’s stock valued at $2,132,000 after acquiring an additional 871 shares during the last quarter. Interchange Capital Partners LLC acquired a new stake in shares of MSC Industrial Direct during the 4th quarter worth about $224,000. AMG National Trust Bank purchased a new stake in MSC Industrial Direct during the fourth quarter worth approximately $1,258,000. Finally, Certuity LLC boosted its holdings in MSC Industrial Direct by 57.8% in the fourth quarter. Certuity LLC now owns 3,581 shares of the industrial products company’s stock valued at $301,000 after purchasing an additional 1,312 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc (NYSE: MSM) is a leading distributor of metalworking and maintenance, repair and operations (MRO) products serving a broad range of industrial customers across North America. The company offers an extensive portfolio of cutting tools, abrasives, measuring and inspection instruments, fasteners, safety supplies and other essential components used in manufacturing, metalworking and production environments. MSC delivers products through a multi-channel distribution network, including an extensive branch system, e-commerce platform and dedicated sales force.

In addition to its core product offerings, MSC Industrial Direct provides value-added services designed to improve productivity and reduce downtime for its customers.