According to Zacks, “MSC Industrial Direct Company Inc. is one of the largest direct marketers of a broad range of industrial products to small and mid-sized industrial customers throughout the United States. The company distributes a full line of industrial products, such as cutting tools, abrasives, measuring instruments, machine tool accessories, safety equipment, fasteners, welding supplies and electrical supplies, intended to satisfy the customers’ maintenance, repair and operations supplies requirements. “
MSM has been the subject of several other reports. Macquarie initiated coverage on MSC Industrial Direct in a research note on Thursday, August 25th. They set a neutral rating and a $80.00 target price for the company. BMO Capital Markets reissued a market perform rating and set a $78.00 target price (down from $80.00) on shares of MSC Industrial Direct in a research note on Thursday, July 7th. Credit Suisse Group AG downgraded MSC Industrial Direct from a neutral rating to an underperform rating and set a $66.00 price target for the company. in a report on Friday, June 17th. Barclays PLC lifted their price target on MSC Industrial Direct from $64.00 to $66.00 and gave the stock an underweight rating in a report on Thursday, July 7th. Finally, Wells Fargo & Co. reaffirmed a hold rating on shares of MSC Industrial Direct in a report on Sunday, September 4th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $75.44.
Shares of MSC Industrial Direct (NYSE:MSM) opened at 74.91 on Tuesday. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of 20.20 and a beta of 0.70. MSC Industrial Direct has a 12-month low of $54.19 and a 12-month high of $78.35. The company’s 50-day moving average price is $73.01 and its 200 day moving average price is $73.55.
In other news, SVP Steve Armstrong sold 3,732 shares of the business’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $73.35, for a total value of $273,742.20. Following the completion of the sale, the senior vice president now directly owns 16,144 shares of the company’s stock, valued at approximately $1,184,162.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 31.75% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the stock. IBM Retirement Fund increased its stake in 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 last quarter. 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 valued at $487,000 after buying an additional 52 shares during 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 valued at $1,755,000 after buying an additional 65 shares during the last quarter. Bessemer Group Inc. increased its stake in MSC Industrial Direct by 0.6% in the first quarter. Bessemer Group Inc. now owns 11,283 shares of the company’s stock valued at $861,000 after buying an additional 66 shares during 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 valued at $277,000 after buying an additional 76 shares during the last quarter. 78.44% of the stock is owned by institutional investors and hedge funds.
MSC Industrial Direct Company Profile
MSC Industrial Direct Co, Inc (MSC) is direct marketers and distributors of a range of metalworking and maintenance, repair and operations (MRO) products to customers throughout the United States. The Company operates primarily in the United States, with customers in all 50 states, through a network of five customer fulfillment centers (four customer fulfillment centers are located within the United States and one is located in the United Kingdom and 106 branch offices (104 branches are located within the United States, one is located in the United Kingdom and the other is located in Mexico).
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