MSC Industrial Direct (NYSE:MSM) PT Lowered to $75.00 at Loop Capital

MSC Industrial Direct (NYSE:MSM) had its price objective cut by Loop Capital from $80.00 to $75.00 in a report issued on Wednesday, Benzinga reports. They currently have a hold rating on the industrial products company’s stock.

Several other research firms have also issued reports on MSM. Robert W. Baird reduced their price objective on shares of MSC Industrial Direct from $95.00 to $84.00 and set a neutral rating for the company in a research note on Friday, June 14th. KeyCorp lowered shares of MSC Industrial Direct from an overweight rating to a sector weight rating in a research note on Monday, June 17th. StockNews.com lowered shares of MSC Industrial Direct from a buy rating to a hold rating in a research note on Saturday, June 8th. JPMorgan Chase & Co. reduced their price objective on shares of MSC Industrial Direct from $81.00 to $80.00 and set a neutral rating for the company in a research note on Wednesday. Finally, Stephens reaffirmed an overweight rating and issued a $110.00 price objective on shares of MSC Industrial Direct in a research note on Friday, June 14th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $90.20.

MSC Industrial Direct Trading Down 1.5 %

MSC Industrial Direct stock opened at $77.37 on Wednesday. The company’s fifty day simple moving average is $85.75 and its 200-day simple moving average is $93.41. The company has a quick ratio of 0.92, a current ratio of 2.01 and a debt-to-equity ratio of 0.21. MSC Industrial Direct has a 12 month low of $75.05 and a 12 month high of $105.77. The stock has a market cap of $4.36 billion, a P/E ratio of 13.89 and a beta of 0.88.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings results on Tuesday, July 2nd. The industrial products company reported $1.33 EPS for the quarter, meeting the consensus estimate of $1.33. MSC Industrial Direct had a net margin of 7.44% and a return on equity of 21.31%. The business had revenue of $979.40 million for the quarter, compared to analysts’ expectations of $979.10 million. During the same period in the previous year, the company posted $1.74 EPS. MSC Industrial Direct’s revenue was down 7.1% on a year-over-year basis. As a group, sell-side analysts forecast that MSC Industrial Direct will post 4.88 EPS for the current fiscal year.

MSC Industrial Direct Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Tuesday, July 9th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date of this dividend is Tuesday, July 9th. MSC Industrial Direct’s dividend payout ratio is 59.61%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Contravisory Investment Management Inc. acquired a new position in shares of MSC Industrial Direct during the fourth quarter valued at about $25,000. Future Financial Wealth Managment LLC acquired a new position in shares of MSC Industrial Direct during the first quarter valued at about $29,000. Bessemer Group Inc. raised its position in shares of MSC Industrial Direct by 261.7% during the first quarter. Bessemer Group Inc. now owns 387 shares of the industrial products company’s stock valued at $37,000 after buying an additional 280 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of MSC Industrial Direct during the fourth quarter valued at about $40,000. Finally, Quarry LP acquired a new position in shares of MSC Industrial Direct during the fourth quarter valued at about $40,000. Institutional investors and hedge funds own 79.26% of the company’s stock.

About MSC Industrial Direct

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.