Zacks Research cut shares of MSC Industrial Direct (NYSE:MSM – Free Report) from a strong-buy rating to a hold rating in a research note released on Monday,Zacks reports.
A number of other analysts have also recently weighed in on MSM. Wall Street Zen upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Jefferies Financial Group set a $130.00 price objective on shares of MSC Industrial Direct in a research note on Wednesday, July 1st. KeyCorp upped their target price on shares of MSC Industrial Direct from $132.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, July 1st. Weiss Ratings upgraded shares of MSC Industrial Direct from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 7th. Finally, Rothschild & Co Redburn began coverage on MSC Industrial Direct in a report on Monday, July 13th. They set a “buy” rating and a $155.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, MSC Industrial Direct presently has an average rating of “Moderate Buy” and a consensus price target of $123.43.
Read Our Latest Stock Analysis on MSM
MSC Industrial Direct Price Performance
MSC Industrial Direct (NYSE:MSM – Get Free Report) last posted its quarterly earnings data on Wednesday, July 1st. The industrial products company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.15. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. MSC Industrial Direct had a return on equity of 17.34% and a net margin of 5.91%.The company’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.08 earnings per share. On average, research analysts forecast that MSC Industrial Direct will post 4.49 earnings per share for the current year.
MSC Industrial Direct Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th were issued a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Wednesday, July 8th. MSC Industrial Direct’s dividend payout ratio is currently 84.06%.
Hedge Funds Weigh In On MSC Industrial Direct
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Elevation Wealth Partners LLC raised its position in MSC Industrial Direct by 89.9% in the second quarter. Elevation Wealth Partners LLC now owns 245 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 116 shares in the last quarter. First Horizon Corp boosted its position in shares of MSC Industrial Direct by 101.0% during the 1st quarter. First Horizon Corp now owns 400 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 201 shares in the last quarter. Quarry LP grew its stake in shares of MSC Industrial Direct by 71.7% during the 3rd quarter. Quarry LP now owns 503 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 210 shares during the period. Hantz Financial Services Inc. grew its position in MSC Industrial Direct by 42.4% during the fourth quarter. Hantz Financial Services Inc. now owns 514 shares of the industrial products company’s stock worth $43,000 after buying an additional 153 shares during the period. Finally, Kestra Advisory Services LLC purchased a new position in MSC Industrial Direct in the fourth quarter valued at about $48,000. Institutional investors and hedge funds own 79.26% of the company’s stock.
MSC Industrial Direct Company Profile
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.
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