MSC Industrial Direct Company, Inc. (NYSE:MSM) Given Average Rating of "Hold" by Analysts

MSC Industrial Direct Company, Inc. (NYSE:MSM) has received a consensus "Hold" rating from seven research firms. Analysts have set an average 12-month target price of $91.50. Recent analyst actions include JPMorgan raising its price target to $96 with an "overweight" rating, while Wolfe Research downgraded to "peer perform." The company reported better-than-expected earnings and increased its quarterly dividend. Insider buying activity was noted, with significant stock purchases by directors.

MSC Industrial Direct Company, Inc. (NYSE:MSM - Get Free Report) has been assigned a consensus rating of "Hold" from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $91.50.

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Several research firms have recently commented on MSM. JPMorgan Chase & Co. boosted their price objective on MSC Industrial Direct from $93.00 to $96.00 and gave the company an "overweight" rating in a report on Friday, October 24th. Wolfe Research downgraded shares of MSC Industrial Direct from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, October 8th. Zacks Research upgraded shares of MSC Industrial Direct from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, November 4th. Weiss Ratings restated a "hold (c)" rating on shares of MSC Industrial Direct in a report on Friday, October 31st. Finally, Wall Street Zen lowered shares of MSC Industrial Direct from a "buy" rating to a "hold" rating in a research note on Sunday, November 9th.

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MSC Industrial Direct Price Performance

MSC Industrial Supply Co.: High Yield, Value And Growth In 2023

Shares of NYSE MSM opened at $88.12 on Friday. The firm has a market capitalization of $4.92 billion, a P/E ratio of 24.75 and a beta of 0.98. The firm's 50-day moving average price is $88.20 and its 200-day moving average price is $86.45. The company has a current ratio of 1.68, a quick ratio of 0.80 and a debt-to-equity ratio of 0.12. MSC Industrial Direct has a 1-year low of $68.10 and a 1-year high of $94.31.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last issued its earnings results on Thursday, October 23rd. The industrial products company reported $1.09 EPS for the quarter, beating analysts' consensus estimates of $1.03 by $0.06. MSC Industrial Direct had a return on equity of 15.21% and a net margin of 5.29%.The business had revenue of $978.18 million during the quarter, compared to analyst estimates of $964.03 million. During the same period in the previous year, the company posted $1.03 EPS. The firm's revenue was up 2.7% compared to the same quarter last year. Equities research analysts anticipate that MSC Industrial Direct will post 3.57 earnings per share for the current fiscal year.

MSC Industrial Direct Increases Dividend

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The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th will be paid a dividend of $0.87 per share. This is an increase from MSC Industrial Direct's previous quarterly dividend of $0.85. The ex-dividend date is Wednesday, November 12th. This represents a $3.48 dividend on an annualized basis and a yield of 3.9%. MSC Industrial Direct's dividend payout ratio (DPR) is presently 97.75%.

Insider Buying and Selling

In related news, Director Philip Peller acquired 6,666 shares of the stock in a transaction dated Thursday, November 13th. The stock was purchased at an average cost of $90.14 per share, with a total value of $600,873.24. Following the completion of the purchase, the director directly owned 9,537 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mitchell Jacobson bought 22,870 shares of the company's stock in a transaction dated Tuesday, November 18th. The stock was bought at an average price of $84.96 per share, for a total transaction of $1,943,035.20. Following the acquisition, the director directly owned 2,328,192 shares of the company's stock, valued at approximately $197,803,192.32. This represents a 0.99% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 211,342 shares of company stock valued at $17,951,965 over the last three months. Corporate insiders own 18.30% of the company's stock.

Institutional Trading of MSC Industrial Direct

Several institutional investors have recently made changes to their positions in MSM. Clearstead Trust LLC bought a new position in shares of MSC Industrial Direct during the first quarter valued at about $25,000. Investment Management Corp VA ADV increased its stake in MSC Industrial Direct by 207.8% in the 1st quarter. Investment Management Corp VA ADV now owns 397 shares of the industrial products company's stock valued at $31,000 after buying an additional 268 shares during the last quarter. Quent Capital LLC purchased a new stake in MSC Industrial Direct in the 3rd quarter valued at about $31,000. Neo Ivy Capital Management bought a new position in shares of MSC Industrial Direct during the 1st quarter worth approximately $32,000. Finally, Hantz Financial Services Inc. boosted its stake in shares of MSC Industrial Direct by 257.4% in the 3rd 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. Institutional investors own 79.26% of the company's stock.

About MSC Industrial Direct

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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.

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