MSC Industrial Direct (NYSE:MSM) Downgraded to ‘Neutral’ by Robert W. Baird

Robert W. Baird cut shares MSC Industrial Direct (NYSE:MSM – Free Report) from an outperform rating to a neutral rating in a research note issued Wednesday morning, MarketBeat Ratings reports. Robert W. Baird currently has a price target of $95.00 for shares of the industrial products company, up from the previous price target of $112.00.

A number of other research firms have also weighed in on MSM. Stephens maintained an overperform rating and set a $110.00 price target on shares of MSC Industrial Direct in a research note on Monday, April 1st. On Friday, May 10, the StockNews.com agency increased its recommendation for MSC Industrial Direct shares from a hold rating to a buy rating. Three analysts gave the company a hold rating and three gave the company a buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $104.00.

Read our latest research report on MSC Industrial Direct

MSC Industrial Direct stocks fell 1.4%

On Wednesday, NYSE:MSM traded at $84.97. The company has a market capitalization of $4.78 billion, a P/E ratio of 15.25 and a beta of 0.96. MSC Industrial Direct has a 1-year low of $83.77 and a 1-year high of $105.77. The company’s fifty-day moving average price is $92.99 and its 200-day moving average price is $96.67. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.01 and a quick ratio of 0.92.

MSC Industrial Direct (NYSE:MSM – Get Free Report) last released its quarterly earnings data on Thursday, March 28th. The industrial products company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.02. The company’s revenue for the quarter was $935.30 million, compared to analyst estimates of $946.55 million. MSC Industrial Direct had a net margin of 7.89% and a return on equity of 22.58%. The company’s quarterly revenues declined 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.45 per share. As a group, equity research analysts expect MSC Industrial Direct to post 5.69 EPS this year.

MSC Industrial direct dividend announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 23. Record investors received a dividend of $0.83 per share on Tuesday, April 9. The dividend payment date was Monday, April 8. This represents an annual dividend of $3.32 and a yield of 3.91%. MSC Industrial Direct’s dividend payout ratio is currently 59.61%.

MSC Industrial Direct Institutional Trading

Institutional investors have recently modified their holdings in the stock. Contravisory Investment Management Inc. acquired a new stake in shares of MSC Industrial Direct during the fourth quarter worth approximately $25,000. Future Financial Wealth Managment LLC acquired a new stake in shares of MSC Industrial Direct during the first quarter valued at approximately $29,000. In the first quarter, Bessemer Group Inc. increased its position in MSC Industrial Direct shares by 261.7%. After purchasing an additional 280 shares during this period, Bessemer Group Inc. currently owns 387 shares of the industrial products company’s stock valued at $37,000. Quarry LP acquired a new stake in MSC Industrial Direct during the fourth quarter worth approximately $40,000. Finally, GAMMA Investing LLC acquired a new stake in shares of MSC Industrial Direct during the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds hold 79.26% of the company’s shares.

About MSC Industrial Direct

(Get the free report)

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metal fabrication 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, tool components, metalworking products, fasteners, flat products, raw materials, abrasives, hand machines and power tools, safety and janitorial supplies, plumbing supplies, material handling products, conveying components power, and electrical materials.

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