MSC Industrial Direct (NYSE:MSM) Lowered to Hold Rating by Zacks Research

Zacks Research downgraded shares of MSC Industrial Direct (NYSE:MSM) from a strong-buy rating to a hold rating in a report released on Wednesday,Zacks.com reports.

Several other research analysts have also issued reports on MSM. Wall Street Zen lowered MSC Industrial Direct from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Wolfe Research cut MSC Industrial Direct from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised their price objective on MSC Industrial Direct from $93.00 to $96.00 and gave the stock an “overweight” rating in a research report on Friday, October 24th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of MSC Industrial Direct in a report on Friday, October 31st. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $91.50.

MSC Industrial Direct Stock Down 0.5%

NYSE:MSM opened at $82.41 on Wednesday. MSC Industrial Direct has a one year low of $68.10 and a one year high of $94.31. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.68 and a quick ratio of 0.80. The company has a market cap of $4.60 billion, a PE ratio of 23.15 and a beta of 0.84. The firm’s 50 day simple moving average is $87.43 and its 200 day simple moving average is $86.92.

MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings results on Thursday, October 23rd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.06. The firm had revenue of $978.18 million during the quarter, compared to the consensus estimate of $964.03 million. MSC Industrial Direct had a net margin of 5.29% and a return on equity of 15.21%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 earnings per share. On average, research analysts anticipate that MSC Industrial Direct will post 3.57 earnings per share for the current year.

MSC Industrial Direct Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th were paid a $0.87 dividend. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 4.2%. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.85. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 97.75%.

Insider Activity

In other MSC Industrial Direct news, Director Philip Peller purchased 6,666 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were purchased at an average cost of $90.14 per share, for a total transaction of $600,873.24. Following the acquisition, the director owned 9,537 shares of the company’s stock, valued at approximately $859,665.18. This represents a 232.18% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mitchell Jacobson acquired 22,870 shares of MSC Industrial Direct stock in a transaction dated Tuesday, November 18th. The shares were bought at an average cost of $84.96 per share, with a total value of $1,943,035.20. Following the transaction, the director owned 2,328,192 shares in the company, valued at approximately $197,803,192.32. This trade represents a 0.99% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have purchased 211,342 shares of company stock worth $17,951,965. 18.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quent Capital LLC purchased a new position in shares of MSC Industrial Direct in the 3rd quarter worth approximately $31,000. Hantz Financial Services Inc. lifted its position in MSC Industrial Direct by 257.4% in the third quarter. Hantz Financial Services Inc. now owns 361 shares of the industrial products company’s stock worth $33,000 after buying an additional 260 shares during the last quarter. Quarry LP boosted its stake in MSC Industrial Direct by 71.7% during the third quarter. Quarry LP now owns 503 shares of the industrial products company’s stock worth $46,000 after buying an additional 210 shares during the period. EverSource Wealth Advisors LLC boosted its stake in MSC Industrial Direct by 130.4% during the second quarter. EverSource Wealth Advisors LLC now owns 576 shares of the industrial products company’s stock worth $49,000 after buying an additional 326 shares during the period. Finally, First Horizon Advisors Inc. increased its position in MSC Industrial Direct by 52.2% during the second quarter. First Horizon Advisors Inc. now owns 595 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 204 shares during the last quarter. 79.26% of the stock is owned by institutional investors.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products and services in the United States, Canada, Mexico, the United Kingdom, and internationally. The company's MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock products, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components, and electrical supplies.