Buckingham Research Trims MSC Industrial Direct (NYSE:MSM) Target Price to $70.00

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MSC Industrial Direct (NYSE:MSM) had its price target trimmed by Buckingham Research from $77.00 to $70.00 in a research report report published on Thursday, BenzingaRatingsTable reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

A number of other research analysts have also weighed in on MSM. ValuEngine raised VESTAS WIND SYS/ADR from a hold rating to a buy rating in a report on Thursday, May 9th. Gordon Haskett lowered MSC Industrial Direct from a buy rating to a hold rating and set a $72.02 price objective on the stock. in a report on Monday, June 10th. Wells Fargo & Co cut their price objective on MSC Industrial Direct from $85.00 to $80.00 and set a market perform rating on the stock in a report on Thursday, April 11th. Raymond James reissued a hold rating on shares of PrairieSky Royalty in a report on Thursday. Finally, Zacks Investment Research raised SCHNEIDER ELEC /ADR from a hold rating to a buy rating and set a $20.00 price objective on the stock in a report on Friday, July 5th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. MSC Industrial Direct presently has a consensus rating of Hold and an average price target of $80.70.

Shares of NYSE:MSM opened at $72.55 on Thursday. The company’s 50-day simple moving average is $72.39. MSC Industrial Direct has a 1 year low of $67.25 and a 1 year high of $90.25. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of 13.66, a P/E/G ratio of 1.34 and a beta of 0.94. The company has a quick ratio of 1.18, a current ratio of 2.50 and a debt-to-equity ratio of 0.20.

MSC Industrial Direct (NYSE:MSM) last announced its earnings results on Wednesday, July 10th. The industrial products company reported $1.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.50 by ($0.05). The business had revenue of $866.50 million for the quarter, compared to analyst estimates of $881.62 million. MSC Industrial Direct had a net margin of 8.79% and a return on equity of 21.08%. The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.39 earnings per share. On average, equities analysts predict that MSC Industrial Direct will post 5.33 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 6th. Investors of record on Tuesday, July 23rd will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 4.14%. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Monday, July 22nd. MSC Industrial Direct’s dividend payout ratio (DPR) is 49.61%.

In related news, EVP Douglas E. Jones sold 2,126 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $83.50, for a total transaction of $177,521.00. Following the sale, the executive vice president now directly owns 7,496 shares of the company’s stock, valued at $625,916. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Steven N. Baruch sold 5,404 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $82.00, for a total value of $443,128.00. The disclosure for this sale can be found here. 27.96% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. LPL Financial LLC grew its holdings in MSC Industrial Direct by 2.0% during the fourth quarter. LPL Financial LLC now owns 6,381 shares of the industrial products company’s stock worth $491,000 after acquiring an additional 128 shares during the period. ETF Managers Group LLC grew its holdings in MSC Industrial Direct by 9.8% during the first quarter. ETF Managers Group LLC now owns 1,592 shares of the industrial products company’s stock worth $132,000 after acquiring an additional 142 shares during the period. Lowe Brockenbrough & Co. Inc. grew its holdings in MSC Industrial Direct by 1.3% during the first quarter. Lowe Brockenbrough & Co. Inc. now owns 11,360 shares of the industrial products company’s stock worth $940,000 after acquiring an additional 147 shares during the period. BOKF NA grew its holdings in MSC Industrial Direct by 3.1% during the fourth quarter. BOKF NA now owns 6,814 shares of the industrial products company’s stock worth $524,000 after acquiring an additional 204 shares during the period. Finally, Mason Street Advisors LLC grew its holdings in MSC Industrial Direct by 0.9% during the first quarter. Mason Street Advisors LLC now owns 24,008 shares of the industrial products company’s stock worth $1,986,000 after acquiring an additional 224 shares during the period. 76.11% of the stock is currently owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for MSC Industrial Direct (NYSE:MSM)

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