Wells Fargo & Co set a $70.00 price target on MSC Industrial Direct (NYSE:MSM) in a report issued on Thursday, The Fly reports. The firm currently has a market perform rating on the industrial products company’s stock.
A number of other research firms also recently weighed in on MSM. Raymond James restated a hold rating on shares of PrairieSky Royalty in a research note on Thursday. Stephens started coverage on shares of Itron in a research report on Monday, July 8th. They set an equal weight rating and a $64.00 target price on the stock. Northcoast Research reiterated a buy rating on shares of MSC Industrial Direct in a research report on Thursday, April 11th. Robert W. Baird lifted their target price on shares of Atlassian from $110.00 to $120.00 and gave the stock an outperform rating in a research report on Thursday, April 11th. Finally, William Blair reiterated a market perform rating on shares of Luminex in a research report on Tuesday, May 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. MSC Industrial Direct has a consensus rating of Hold and a consensus target price of $80.70.
MSM opened at $72.55 on Thursday. The firm has a 50 day moving average of $72.39. MSC Industrial Direct has a 1-year low of $67.25 and a 1-year high of $90.25. The company has a current ratio of 2.50, a quick ratio of 1.18 and a debt-to-equity ratio of 0.20. The firm has a market cap of $4.00 billion, a P/E ratio of 13.66, a P/E/G ratio of 1.34 and a beta of 0.94.
MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings results on Wednesday, July 10th. The industrial products company reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.05). MSC Industrial Direct had a net margin of 8.79% and a return on equity of 21.08%. The company had revenue of $866.50 million during the quarter, compared to analyst estimates of $881.62 million. During the same quarter in the previous year, the business posted $1.39 earnings per share. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities analysts predict that MSC Industrial Direct will post 5.33 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 6th. Investors of record on Tuesday, July 23rd will be given a dividend of $0.75 per share. The ex-dividend date is Monday, July 22nd. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.63. This represents a $3.00 annualized dividend and a yield of 4.14%. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 49.61%.
In other news, EVP Douglas E. Jones sold 2,126 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $83.50, for a total value of $177,521.00. Following the transaction, the executive vice president now owns 7,496 shares in the company, valued at approximately $625,916. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Steven N. Baruch sold 5,404 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $82.00, for a total transaction of $443,128.00. The disclosure for this sale can be found here. 27.96% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of MSM. Norges Bank acquired a new position in shares of MSC Industrial Direct in the 4th quarter worth approximately $48,204,000. QV Investors Inc. acquired a new position in shares of MSC Industrial Direct in the 1st quarter worth approximately $35,596,000. Los Angeles Capital Management & Equity Research Inc. lifted its position in shares of MSC Industrial Direct by 1,146.7% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 344,619 shares of the industrial products company’s stock worth $28,503,000 after purchasing an additional 316,976 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in shares of MSC Industrial Direct in the 1st quarter worth approximately $11,422,000. Finally, Raymond James & Associates lifted its position in shares of MSC Industrial Direct by 12.0% in the 1st quarter. Raymond James & Associates now owns 853,323 shares of the industrial products company’s stock worth $70,579,000 after purchasing an additional 91,355 shares during the period. Hedge funds and other institutional investors own 76.11% 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 in the United States, Canada, and the United Kingdom. The company's MRO products comprise 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.
Further Reading: Current Ratio
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