MSC Industrial Direct Co. (MSM) Upgraded at Zacks Investment Research
MSC Industrial Direct Co. (NYSE:MSM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “MSC Industrial Direct Company Inc. is one of the largest direct marketers of a broad range of industrial products to small and mid-sized industrial customers throughout the United States. The company distributes a full line of industrial products, such as cutting tools, abrasives, measuring instruments, machine tool accessories, safety equipment, fasteners, welding supplies and electrical supplies, intended to satisfy the customers’ maintenance, repair and operations supplies requirements. “
Other analysts have also recently issued reports about the stock. Credit Suisse Group AG started coverage on shares of MSC Industrial Direct in a research note on Saturday, June 18th. They issued a “sell” rating for the company. Wells Fargo & Co. reaffirmed a “hold” rating on shares of MSC Industrial Direct in a research report on Sunday, September 4th. Barclays PLC boosted their target price on shares of MSC Industrial Direct from $64.00 to $66.00 and gave the stock an “underweight” rating in a research report on Thursday, July 7th. BMO Capital Markets reaffirmed a “market perform” rating and set a $78.00 target price (down previously from $80.00) on shares of MSC Industrial Direct in a research report on Thursday, July 7th. Finally, Macquarie started coverage on shares of MSC Industrial Direct in a research report on Thursday, August 25th. They set a “neutral” rating and a $80.00 target price on the stock. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. MSC Industrial Direct currently has an average rating of “Hold” and a consensus target price of $75.44.
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Shares of MSC Industrial Direct (NYSE:MSM) traded down 0.48% during mid-day trading on Tuesday, reaching $74.55. 530,547 shares of the company traded hands. MSC Industrial Direct has a 52-week low of $54.19 and a 52-week high of $78.35. The stock has a market capitalization of $4.58 billion, a PE ratio of 20.10 and a beta of 0.70. The stock’s 50 day moving average is $73.03 and its 200 day moving average is $73.55.
In other news, SVP Steve Armstrong sold 3,732 shares of the company’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $73.35, for a total value of $273,742.20. Following the sale, the senior vice president now owns 16,144 shares of the company’s stock, valued at approximately $1,184,162.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 31.75% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of the company. Glenmede Trust Co. NA purchased a new stake in MSC Industrial Direct during the first quarter valued at $789,000. Aperio Group LLC raised its stake in MSC Industrial Direct by 55.6% in the first quarter. Aperio Group LLC now owns 9,690 shares of the company’s stock valued at $739,000 after buying an additional 3,464 shares during the last quarter. Virginia Retirement System purchased a new stake in MSC Industrial Direct during the first quarter valued at $1,106,000. TIAA CREF Investment Management LLC raised its stake in MSC Industrial Direct by 88.4% in the first quarter. TIAA CREF Investment Management LLC now owns 273,279 shares of the company’s stock valued at $20,854,000 after buying an additional 128,254 shares during the last quarter. Finally, Teachers Advisors Inc. raised its stake in MSC Industrial Direct by 29.0% in the first quarter. Teachers Advisors Inc. now owns 49,988 shares of the company’s stock valued at $3,815,000 after buying an additional 11,225 shares during the last quarter. 78.44% of the stock is currently owned by institutional investors and hedge funds.
About MSC Industrial Direct
MSC Industrial Direct Co, Inc (MSC) is direct marketers and distributors of a range of metalworking and maintenance, repair and operations (MRO) products to customers throughout the United States. The Company operates primarily in the United States, with customers in all 50 states, through a network of five customer fulfillment centers (four customer fulfillment centers are located within the United States and one is located in the United Kingdom and 106 branch offices (104 branches are located within the United States, one is located in the United Kingdom and the other is located in Mexico).
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