MSC Industrial Direct Company, Inc. (NYSE:MSM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.

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 equities analysts also recently issued research reports about the stock. J P Morgan Chase & Co assumed coverage on shares of MSC Industrial Direct Company in a research note on Friday, June 2nd. They issued an “overweight” rating and a $91.00 target price for the company. Robert W. Baird reiterated a “neutral” rating and issued a $85.00 target price (down previously from $92.00) on shares of MSC Industrial Direct Company in a research note on Thursday. Stifel Nicolaus reiterated a “hold” rating and issued a $88.00 target price (down previously from $92.00) on shares of MSC Industrial Direct Company in a research note on Monday, June 12th. Credit Suisse Group upgraded shares of MSC Industrial Direct Company from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $92.00 to $100.00 in a research note on Wednesday, April 19th. Finally, Barclays PLC reiterated a “sell” rating and issued a $85.00 target price on shares of MSC Industrial Direct Company in a research note on Friday, April 7th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $92.00.

MSC Industrial Direct Company (MSM) traded up 2.68% during mid-day trading on Friday, reaching $73.66. 1,468,607 shares of the company’s stock were exchanged. The stock has a market cap of $4.20 billion, a price-to-earnings ratio of 18.37 and a beta of 0.54. The company has a 50-day moving average of $84.90 and a 200-day moving average of $94.50. MSC Industrial Direct Company has a 52-week low of $69.76 and a 52-week high of $105.70.

MSC Industrial Direct Company (NYSE:MSM) last posted its earnings results on Wednesday, July 12th. The industrial products company reported $1.09 earnings per share for the quarter, hitting the consensus estimate of $1.09. The firm had revenue of $743.90 million during the quarter, compared to the consensus estimate of $744.49 million. MSC Industrial Direct Company had a net margin of 8.07% and a return on equity of 20.05%. The company’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the company earned $1.05 earnings per share. Equities research analysts anticipate that MSC Industrial Direct Company will post $3.98 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Tuesday, July 18th will be given a $0.45 dividend. The ex-dividend date of this dividend is Friday, July 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.44%. MSC Industrial Direct Company’s dividend payout ratio (DPR) is currently 45.11%.

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Several institutional investors have recently added to or reduced their stakes in MSM. Confluence Investment Management LLC raised its position in MSC Industrial Direct Company by 59.4% in the second quarter. Confluence Investment Management LLC now owns 318,840 shares of the industrial products company’s stock worth $27,408,000 after buying an additional 118,801 shares during the period. Fox Run Management L.L.C. purchased a new position in MSC Industrial Direct Company during the second quarter worth approximately $834,000. Leith Wheeler Investment Counsel Ltd. raised its position in MSC Industrial Direct Company by 49.0% in the second quarter. Leith Wheeler Investment Counsel Ltd. now owns 16,237 shares of the industrial products company’s stock worth $1,396,000 after buying an additional 5,340 shares during the period. Janus Capital Management LLC raised its position in MSC Industrial Direct Company by 207.3% in the first quarter. Janus Capital Management LLC now owns 83,900 shares of the industrial products company’s stock worth $8,622,000 after buying an additional 56,600 shares during the period. Finally, Grandeur Peak Global Advisors LLC raised its position in MSC Industrial Direct Company by 13.8% in the first quarter. Grandeur Peak Global Advisors LLC now owns 85,000 shares of the industrial products company’s stock worth $8,735,000 after buying an additional 10,275 shares during the period. Institutional investors own 77.34% of the company’s stock.

MSC Industrial Direct Company Company Profile

MSC Industrial Direct Co, Inc is a North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. The Company’s range of MRO products include 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.

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Analyst Recommendations for MSC Industrial Direct Company (NYSE:MSM)

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