MSC Industrial Direct (MSM) Receives Consensus Rating of “Hold” from Analysts

Shares of MSC Industrial Direct (NYSE:MSM) have earned an average recommendation of “Hold” from the eighteen research firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $100.50.

MSM has been the subject of several analyst reports. Zacks Investment Research raised shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a report on Wednesday, January 3rd. UBS downgraded shares of MSC Industrial Direct from a “strong-buy” rating to an “outperform” rating in a report on Thursday, January 4th. Raymond James reissued an “outperform” rating and set a $105.00 price target (up previously from $95.00) on shares of MSC Industrial Direct in a report on Thursday, January 4th. They noted that the move was a valuation call. Susquehanna Bancshares reissued a “hold” rating and set a $92.00 price target on shares of MSC Industrial Direct in a report on Wednesday, January 3rd. Finally, Credit Suisse Group reissued an “outperform” rating and set a $112.00 price target (up previously from $100.00) on shares of MSC Industrial Direct in a report on Tuesday, January 9th.

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In related news, Director Mitchell Jacobson sold 362,753 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $94.09, for a total value of $34,131,429.77. Following the completion of the sale, the director now owns 90,000 shares of the company’s stock, valued at $8,468,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Erik Gershwind sold 37,703 shares of the company’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $94.16, for a total transaction of $3,550,114.48. Following the completion of the sale, the chief executive officer now directly owns 117,885 shares of the company’s stock, valued at approximately $11,100,051.60. The disclosure for this sale can be found here. Insiders sold 657,949 shares of company stock valued at $62,120,644 in the last ninety days. Corporate insiders own 31.38% of the company’s stock.

A number of hedge funds have recently bought and sold shares of MSM. Legal & General Group Plc lifted its holdings in MSC Industrial Direct by 11.8% in the third quarter. Legal & General Group Plc now owns 56,755 shares of the industrial products company’s stock worth $4,288,000 after purchasing an additional 5,979 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in MSC Industrial Direct by 6.8% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 222,549 shares of the industrial products company’s stock valued at $16,819,000 after acquiring an additional 14,116 shares during the last quarter. Stifel Financial Corp lifted its holdings in MSC Industrial Direct by 14.3% in the 3rd quarter. Stifel Financial Corp now owns 17,978 shares of the industrial products company’s stock valued at $1,362,000 after acquiring an additional 2,249 shares during the last quarter. First Republic Investment Management Inc. acquired a new stake in MSC Industrial Direct in the 3rd quarter valued at about $258,000. Finally, Vident Investment Advisory LLC lifted its holdings in MSC Industrial Direct by 24.0% in the 3rd quarter. Vident Investment Advisory LLC now owns 4,777 shares of the industrial products company’s stock valued at $361,000 after acquiring an additional 924 shares during the last quarter. 75.32% of the stock is owned by institutional investors and hedge funds.

MSM stock traded up $1.43 during trading on Wednesday, hitting $90.73. 1,001,217 shares of the company’s stock traded hands, compared to its average volume of 782,612. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.20 and a quick ratio of 1.19. MSC Industrial Direct has a 52 week low of $65.42 and a 52 week high of $99.94. The firm has a market cap of $5,053.38, a price-to-earnings ratio of 22.40, a PEG ratio of 1.27 and a beta of 0.60.

MSC Industrial Direct (NYSE:MSM) last released its earnings results on Tuesday, April 10th. The industrial products company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.02. MSC Industrial Direct had a net margin of 9.91% and a return on equity of 20.53%. The firm had revenue of $769.00 million during the quarter, compared to analyst estimates of $773.42 million. During the same quarter in the previous year, the firm earned $1.33 earnings per share. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. analysts expect that MSC Industrial Direct will post 5.18 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 17th will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.56%. The ex-dividend date is Monday, April 16th. MSC Industrial Direct’s payout ratio is currently 57.28%.

MSC Industrial Direct announced that its board has authorized a stock repurchase program on Wednesday, January 10th that authorizes the company to repurchase 2,000,000 shares. This repurchase authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

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About MSC Industrial Direct

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes various ranges of metalworking and maintenance, repair, and operations (MRO) products primarily 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, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components, and electrical supplies.

Analyst Recommendations for MSC Industrial Direct (NYSE:MSM)

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