Todays Report: The MSC Industrial Direct Co. (MSM) Receives $74.38 Consensus PT from Brokerages

The MSC Industrial Direct Co. (MSM) Receives $74.38 Consensus PT from Brokerages

MSC Industrial Direct Co. (NYSE:MSM) has earned an average recommendation of “Hold” from the ten research firms that are covering the company. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $75.14.

MSM has been the subject of a number of research reports. Zacks Investment Research raised shares of MSC Industrial Direct from a “sell” rating to a “hold” rating in a research note on Tuesday, July 5th. Wells Fargo & Co. reissued a “hold” rating on shares of MSC Industrial Direct in a research note on Sunday, September 4th. BMO Capital Markets reissued a “market perform” rating and issued a $78.00 price target (down previously from $80.00) on shares of MSC Industrial Direct in a research note on Thursday, July 7th. Macquarie started coverage on shares of MSC Industrial Direct in a research note on Thursday, August 25th. They issued a “neutral” rating and a $80.00 price target for the company. Finally, Credit Suisse Group AG started coverage on shares of MSC Industrial Direct in a report on Friday, August 19th. They issued an “underperform” rating and a $65.00 price objective for the company.

Shares of MSC Industrial Direct (NYSE:MSM) opened at 71.54 on Wednesday. The firm has a 50-day moving average of $72.41 and a 200-day moving average of $73.25. MSC Industrial Direct has a 12-month low of $54.19 and a 12-month high of $78.35. The firm has a market capitalization of $4.40 billion, a PE ratio of 19.29 and a beta of 0.70.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 29th. Investors of record on Tuesday, November 15th will be issued a dividend of $0.45 per share. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.43. This represents a $1.80 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Friday, November 11th. MSC Industrial Direct’s dividend payout ratio is currently 46.49%.

In other MSC Industrial Direct news, SVP Steve Armstrong sold 3,732 shares of the company’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $73.35, for a total value of $273,742.20. Following the completion of the transaction, the senior vice president now directly owns 16,144 shares in the company, valued at approximately $1,184,162.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 31.75% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. IBM Retirement Fund raised its position in shares of MSC Industrial Direct by 0.3% in the second quarter. IBM Retirement Fund now owns 4,785 shares of the company’s stock valued at $338,000 after buying an additional 13 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in MSC Industrial Direct by 0.8% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 6,895 shares of the company’s stock worth $487,000 after buying an additional 52 shares in the last quarter. Capstone Asset Management Co. increased its stake in MSC Industrial Direct by 1.2% in the third quarter. Capstone Asset Management Co. now owns 5,213 shares of the company’s stock worth $383,000 after buying an additional 60 shares in the last quarter. Freestone Capital Holdings LLC increased its stake in MSC Industrial Direct by 0.3% in the second quarter. Freestone Capital Holdings LLC now owns 24,878 shares of the company’s stock worth $1,755,000 after buying an additional 65 shares in the last quarter. Finally, Raymond James Trust N.A. increased its stake in MSC Industrial Direct by 2.0% in the second quarter. Raymond James Trust N.A. now owns 3,931 shares of the company’s stock worth $277,000 after buying an additional 76 shares in the last quarter. Institutional investors and hedge funds own 78.43% of the company’s stock.

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