MSC Industrial Direct (NYSE:MSM) Price Target Cut to $84.00 by Analysts at Robert W. Baird

MSC Industrial Direct (NYSE:MSM) had its price target trimmed by Robert W. Baird from $90.00 to $84.00 in a report released on Friday,Benzinga reports. The firm currently has a neutral rating on the industrial products company’s stock.

Separately, Wolfe Research initiated coverage on MSC Industrial Direct in a research note on Thursday, January 16th. They issued an “outperform” rating and a $95.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $82.20.

MSC Industrial Direct Price Performance

MSM stock opened at $71.19 on Friday. The firm has a 50 day simple moving average of $79.50 and a two-hundred day simple moving average of $81.35. The stock has a market cap of $3.98 billion, a PE ratio of 16.99 and a beta of 0.89. MSC Industrial Direct has a one year low of $70.13 and a one year high of $96.13. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.93 and a quick ratio of 0.91.

MSC Industrial Direct (NYSE:MSM) last announced its earnings results on Thursday, April 3rd. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.04. MSC Industrial Direct had a net margin of 6.21% and a return on equity of 17.80%. The company had revenue of $891.70 million during the quarter, compared to analyst estimates of $908.30 million. During the same period in the previous year, the business earned $1.18 earnings per share. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. On average, analysts predict that MSC Industrial Direct will post 3.57 EPS for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be given a $0.85 dividend. The ex-dividend date is Wednesday, April 9th. This represents a $3.40 annualized dividend and a yield of 4.78%. MSC Industrial Direct’s payout ratio is currently 81.15%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Mackenzie Financial Corp purchased a new stake in MSC Industrial Direct during the 4th quarter valued at $609,000. Vise Technologies Inc. boosted its holdings in shares of MSC Industrial Direct by 38.8% during the fourth quarter. Vise Technologies Inc. now owns 4,319 shares of the industrial products company’s stock worth $323,000 after purchasing an additional 1,207 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of MSC Industrial Direct by 20.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 279,557 shares of the industrial products company’s stock worth $20,880,000 after purchasing an additional 48,411 shares during the last quarter. Voloridge Investment Management LLC increased its holdings in MSC Industrial Direct by 312.5% during the 4th quarter. Voloridge Investment Management LLC now owns 236,111 shares of the industrial products company’s stock valued at $17,635,000 after purchasing an additional 178,870 shares during the period. Finally, iSAM Funds UK Ltd bought a new position in MSC Industrial Direct during the 4th quarter valued at approximately $433,000. Institutional investors 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.