J P Morgan Chase & Co cut shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) from an overweight rating to a neutral rating in a report released on Friday, Marketbeat Ratings reports. J P Morgan Chase & Co currently has $76.00 price target on the industrial products company’s stock.

A number of other equities analysts also recently issued reports on the company. Credit Suisse Group raised MSC Industrial Direct from a neutral rating to an outperform rating and increased their target price for the stock from $92.00 to $100.00 in a research note on Wednesday, April 19th. Raymond James Financial, Inc. raised MSC Industrial Direct from a market perform rating to a buy rating and set a $103.00 target price for the company in a research note on Wednesday, April 19th. Zacks Investment Research raised MSC Industrial Direct from a hold rating to a buy rating and set a $108.00 target price for the company in a research note on Saturday, April 8th. BidaskClub raised MSC Industrial Direct from a strong sell rating to a sell rating in a research note on Wednesday, July 5th. Finally, Barclays PLC reissued a sell rating and set a $85.00 target price on shares of MSC Industrial Direct in a research note on Friday, April 7th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $90.85.

Shares of MSC Industrial Direct (MSM) traded down 0.65% during mid-day trading on Friday, reaching $70.49. The company’s stock had a trading volume of 328,110 shares. MSC Industrial Direct has a 1-year low of $69.96 and a 1-year high of $105.70. The company’s 50 day moving average price is $79.96 and its 200-day moving average price is $91.87. The company has a market capitalization of $4.01 billion, a price-to-earnings ratio of 17.58 and a beta of 0.50.

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

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The company also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Tuesday, July 18th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend was Friday, July 14th. MSC Industrial Direct’s dividend payout ratio is currently 45.11%.

In other news, Director Philip Peller purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, July 19th. The shares were acquired at an average price of $72.00 per share, for a total transaction of $72,000.00. Following the acquisition, the director now directly owns 2,422 shares in the company, valued at approximately $174,384. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 31.28% of the company’s stock.

Several large investors have recently added to or reduced their stakes in MSM. American Century Companies Inc. bought a new stake in shares of MSC Industrial Direct during the second quarter worth approximately $9,069,000. Victory Capital Management Inc. boosted its stake in shares of MSC Industrial Direct by 2.3% in the second quarter. Victory Capital Management Inc. now owns 708,504 shares of the industrial products company’s stock worth $60,903,000 after buying an additional 15,989 shares during the period. Federated Investors Inc. PA boosted its stake in shares of MSC Industrial Direct by 11.9% in the second quarter. Federated Investors Inc. PA now owns 26,329 shares of the industrial products company’s stock worth $2,263,000 after buying an additional 2,798 shares during the period. Boston Private Wealth LLC bought a new stake in shares of MSC Industrial Direct during the second quarter worth approximately $654,000. Finally, State Board of Administration of Florida Retirement System boosted its stake in shares of MSC Industrial Direct by 2.7% in the second quarter. State Board of Administration of Florida Retirement System now owns 65,401 shares of the industrial products company’s stock worth $5,622,000 after buying an additional 1,706 shares during the period. Institutional investors and hedge funds own 76.83% of the company’s stock.

About MSC Industrial Direct

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.

Analyst Recommendations for MSC Industrial Direct (NYSE:MSM)

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