MSC Industrial Direct Co. (NYSE:MSM) dropped 0.4% during mid-day trading on Friday . The company traded as low as $73.51 and last traded at $73.57, with a volume of 428,912 shares trading hands. The stock had previously closed at $73.86.

MSM has been the topic of several recent analyst reports. Sterne Agee CRT initiated coverage on MSC Industrial Direct in a research report on Monday, March 21st. They set a “neutral” rating and a $80.00 price target on the stock. Barclays PLC lowered MSC Industrial Direct from an “equal weight” rating to an “underweight” rating and set a $64.00 price target on the stock. in a research report on Wednesday, May 25th. They noted that the move was a valuation call. Credit Suisse Group AG initiated coverage on MSC Industrial Direct in a research report on Saturday, June 18th. They set a “sell” rating on the stock. BMO Capital Markets initiated coverage on MSC Industrial Direct in a research report on Tuesday, April 5th. They set a “market perform” rating and a $80.00 price target on the stock. Finally, KeyCorp boosted their price target on MSC Industrial Direct from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Monday, March 14th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $75.00.

The firm has a market cap of $4.45 billion and a price-to-earnings ratio of 19.65. The firm has a 50-day moving average price of $72.92 and a 200-day moving average price of $70.06.

MSC Industrial Direct (NYSE:MSM) last announced its earnings results on Wednesday, July 6th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $1.00 by $0.05. The business had revenue of $727.50 million for the quarter. During the same quarter last year, the firm posted $1.03 EPS. MSC Industrial Direct’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, equities research analysts anticipate that MSC Industrial Direct Co. will post $3.73 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 26th. Shareholders of record on Tuesday, July 12th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Friday, July 8th. This represents a $1.72 annualized dividend and a yield of 2.36%.

In other MSC Industrial Direct news, SVP Gregory Polli sold 12,303 shares of the stock in a transaction that occurred on Friday, April 15th. The stock was sold at an average price of $74.80, for a total value of $920,264.40. Following the transaction, the senior vice president now owns 19,360 shares in the company, valued at $1,448,128. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Douglas E. Jones sold 12,119 shares of the stock in a transaction that occurred on Monday, April 11th. The stock was sold at an average price of $76.00, for a total value of $921,044.00. Following the completion of the transaction, the executive vice president now owns 29,330 shares in the company, valued at approximately $2,229,080. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have recently made changes to their positions in the company. Stevens Capital Management LP raised its position in shares of MSC Industrial Direct by 197.9% in the fourth quarter. Stevens Capital Management LP now owns 19,467 shares of the company’s stock valued at $1,095,000 after buying an additional 12,932 shares during the last quarter. Freestone Capital Holdings LLC raised its position in shares of MSC Industrial Direct by 126.9% in the fourth quarter. Freestone Capital Holdings LLC now owns 21,407 shares of the company’s stock valued at $1,205,000 after buying an additional 11,971 shares during the last quarter. Liberty Mutual Group Asset Management Inc. raised its position in shares of MSC Industrial Direct by 51.3% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 31,210 shares of the company’s stock valued at $1,755,000 after buying an additional 10,587 shares during the last quarter. Trexquant Investment LP purchased a new position in shares of MSC Industrial Direct during the fourth quarter valued at about $2,436,000. Finally, Engineers Gate Manager LP purchased a new position in shares of MSC Industrial Direct during the fourth quarter valued at about $3,324,000.

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).

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.