MSC Industrial Direct (NYSE:MSM) Downgraded by Wall Street Zen to Hold

MSC Industrial Direct (NYSE:MSM) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Other analysts have also issued research reports about the company. Zacks Research lowered MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 3rd. KeyCorp reissued a “sector weight” rating on shares of MSC Industrial Direct in a research note on Thursday, January 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MSC Industrial Direct in a research note on Wednesday. Jefferies Financial Group reiterated a “hold” rating and set a $85.00 price target on shares of MSC Industrial Direct in a report on Thursday, January 8th. Finally, Robert W. Baird set a $94.00 price objective on shares of MSC Industrial Direct in a research note on Thursday, January 8th. One equities research analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $89.67.

MSC Industrial Direct Stock Up 0.1%

Shares of NYSE MSM opened at $84.32 on Friday. The company has a current ratio of 1.73, a quick ratio of 0.82 and a debt-to-equity ratio of 0.15. MSC Industrial Direct has a 12-month low of $68.10 and a 12-month high of $94.31. The firm’s 50-day moving average price is $85.45 and its 200-day moving average price is $87.32. The stock has a market capitalization of $4.70 billion, a price-to-earnings ratio of 23.04 and a beta of 0.85.

MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings data on Wednesday, January 7th. The industrial products company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.04. MSC Industrial Direct had a return on equity of 15.73% and a net margin of 5.37%.The company had revenue of $965.68 million for the quarter, compared to analysts’ expectations of $962.52 million. During the same period in the previous year, the firm posted $0.86 earnings per share. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities research analysts anticipate that MSC Industrial Direct will post 3.57 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Philip Peller acquired 6,666 shares of MSC Industrial Direct stock in a transaction on Thursday, November 13th. The shares were bought at an average cost of $90.14 per share, for a total transaction of $600,873.24. Following the acquisition, the director directly owned 9,537 shares of the company’s stock, valued at $859,665.18. This trade represents a 232.18% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Mitchell Jacobson bought 51,954 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were purchased at an average cost of $84.43 per share, with a total value of $4,386,476.22. Following the completion of the transaction, the director owned 2,305,322 shares in the company, valued at $194,638,336.46. This represents a 2.31% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have bought 81,490 shares of company stock worth $6,930,385. Corporate insiders own 19.00% of the company’s stock.

Hedge Funds Weigh In On MSC Industrial Direct

Hedge funds and other institutional investors have recently made changes to their positions in the company. State of New Jersey Common Pension Fund D increased its stake in shares of MSC Industrial Direct by 3.6% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 25,345 shares of the industrial products company’s stock valued at $2,132,000 after buying an additional 871 shares during the period. Interchange Capital Partners LLC bought a new position in MSC Industrial Direct during the 4th quarter worth about $224,000. AMG National Trust Bank purchased a new position in MSC Industrial Direct during the 4th quarter valued at about $1,258,000. Certuity LLC raised its holdings in shares of MSC Industrial Direct by 57.8% in the 4th quarter. Certuity LLC now owns 3,581 shares of the industrial products company’s stock valued at $301,000 after purchasing an additional 1,312 shares in the last quarter. Finally, R Squared Ltd lifted its position in shares of MSC Industrial Direct by 89.3% in the 4th quarter. R Squared Ltd now owns 9,227 shares of the industrial products company’s stock worth $776,000 after purchasing an additional 4,353 shares during the period. Institutional investors own 79.26% of the company’s stock.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc (NYSE: MSM) is a leading distributor of metalworking and maintenance, repair and operations (MRO) products serving a broad range of industrial customers across North America. The company offers an extensive portfolio of cutting tools, abrasives, measuring and inspection instruments, fasteners, safety supplies and other essential components used in manufacturing, metalworking and production environments. MSC delivers products through a multi-channel distribution network, including an extensive branch system, e-commerce platform and dedicated sales force.

In addition to its core product offerings, MSC Industrial Direct provides value-added services designed to improve productivity and reduce downtime for its customers.