MSC Industrial Direct Co., Inc. (NYSE:MSM – Get Rating) – Equities research analysts at KeyCorp increased their Q1 2023 earnings estimates for shares of MSC Industrial Direct in a report released on Wednesday, June 29th. KeyCorp analyst S. Barger now forecasts that the industrial products company will post earnings of $1.50 per share for the quarter, up from their prior estimate of $1.44. KeyCorp currently has an “Overweight” rating and a $100.00 target price on the stock. The consensus estimate for MSC Industrial Direct’s current full-year earnings is $6.08 per share. KeyCorp also issued estimates for MSC Industrial Direct’s Q2 2023 earnings at $1.46 EPS and Q3 2023 earnings at $1.90 EPS.
A number of other equity analysts have also recently issued reports on the stock. Loop Capital raised their price target on shares of MSC Industrial Direct from $88.00 to $93.00 in a research note on Thursday, March 31st. StockNews.com upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating in a research note on Tuesday, May 17th. William Blair cut shares of MSC Industrial Direct from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Finally, Robert W. Baird lowered their target price on shares of MSC Industrial Direct from $105.00 to $100.00 and set an “outperform” rating on the stock in a research note on Thursday. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $101.20.
Shares of MSC Industrial Direct stock opened at $75.11 on Friday. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of 14.20 and a beta of 1.00. The firm’s 50-day moving average is $81.03 and its 200-day moving average is $81.76. MSC Industrial Direct has a 1 year low of $72.30 and a 1 year high of $92.04. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.37 and a quick ratio of 1.27.
MSC Industrial Direct (NYSE:MSM – Get Rating) last announced its quarterly earnings results on Wednesday, June 29th. The industrial products company reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.08. The company had revenue of $958.60 million for the quarter, compared to analysts’ expectations of $962.54 million. MSC Industrial Direct had a net margin of 8.70% and a return on equity of 24.70%. MSC Industrial Direct’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.42 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 26th. Stockholders of record on Tuesday, July 12th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 3.99%. The ex-dividend date is Monday, July 11th. MSC Industrial Direct’s payout ratio is currently 56.71%.
In related news, EVP Steven N. Baruch sold 8,250 shares of the stock in a transaction that occurred on Tuesday, April 19th. The shares were sold at an average price of $85.73, for a total value of $707,272.50. Following the completion of the sale, the executive vice president now directly owns 12,569 shares of the company’s stock, valued at approximately $1,077,540.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Louise K. Goeser sold 2,440 shares of the stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $82.47, for a total transaction of $201,226.80. Following the completion of the sale, the director now directly owns 9,763 shares of the company’s stock, valued at $805,154.61. The disclosure for this sale can be found here. 28.28% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in MSM. BlackRock Inc. grew its holdings in MSC Industrial Direct by 34.8% during the 1st quarter. BlackRock Inc. now owns 5,480,861 shares of the industrial products company’s stock valued at $467,024,000 after buying an additional 1,414,485 shares in the last quarter. Vanguard Group Inc. grew its holdings in MSC Industrial Direct by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 4,307,751 shares of the industrial products company’s stock valued at $367,063,000 after buying an additional 38,035 shares in the last quarter. American Century Companies Inc. grew its holdings in MSC Industrial Direct by 11.7% during the 1st quarter. American Century Companies Inc. now owns 3,503,731 shares of the industrial products company’s stock valued at $298,553,000 after buying an additional 368,106 shares in the last quarter. Epoch Investment Partners Inc. grew its holdings in MSC Industrial Direct by 19.9% during the 4th quarter. Epoch Investment Partners Inc. now owns 1,365,309 shares of the industrial products company’s stock valued at $114,768,000 after buying an additional 226,310 shares in the last quarter. Finally, State Street Corp grew its holdings in MSC Industrial Direct by 7.5% during the 1st quarter. State Street Corp now owns 1,305,746 shares of the industrial products company’s stock valued at $111,263,000 after buying an additional 91,207 shares in the last quarter. 76.92% of the stock is owned by institutional investors.
About MSC Industrial Direct: (Get Rating)
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, and the United Kingdom. Its 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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