MSC Industrial Direct Co Inc (NYSE:MSM) – Jefferies Financial Group cut their FY2019 earnings per share (EPS) estimates for MSC Industrial Direct in a report issued on Monday, October 21st. Jefferies Financial Group analyst S. Volkmann now expects that the industrial products company will post earnings per share of $5.17 for the year, down from their prior estimate of $5.25. Jefferies Financial Group also issued estimates for MSC Industrial Direct’s Q4 2019 earnings at $1.17 EPS, Q1 2020 earnings at $1.15 EPS, Q2 2020 earnings at $1.20 EPS, Q3 2020 earnings at $1.60 EPS, Q4 2020 earnings at $1.40 EPS, FY2020 earnings at $5.35 EPS, Q1 2021 earnings at $1.30 EPS, Q2 2021 earnings at $1.30 EPS, Q3 2021 earnings at $1.75 EPS, FY2021 earnings at $5.85 EPS and FY2022 earnings at $6.24 EPS.
A number of other equities analysts also recently issued reports on the company. Northcoast Research downgraded MSC Industrial Direct from a “buy” rating to a “neutral” rating and cut their target price for the stock from $89.00 to $74.00 in a research note on Friday, July 12th. Stephens set a $82.00 target price on MSC Industrial Direct and gave the stock a “hold” rating in a research note on Monday, July 8th. Raymond James downgraded MSC Industrial Direct from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 12th. Wells Fargo & Co downgraded MSC Industrial Direct from a “market perform” rating to an “underperform” rating and set a $62.00 target price for the company. in a research note on Tuesday. Finally, Zacks Investment Research raised MSC Industrial Direct from a “sell” rating to a “hold” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $78.00.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend is Friday, November 8th. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 59.06%.
A number of large investors have recently made changes to their positions in MSM. Quadrant Capital Group LLC grew its holdings in MSC Industrial Direct by 1,144.4% during the 3rd quarter. Quadrant Capital Group LLC now owns 448 shares of the industrial products company’s stock valued at $31,000 after buying an additional 412 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new position in shares of MSC Industrial Direct during the 2nd quarter worth $53,000. Point72 Asset Management L.P. purchased a new position in shares of MSC Industrial Direct during the 2nd quarter worth $89,000. SRS Capital Advisors Inc. purchased a new position in shares of MSC Industrial Direct during the 2nd quarter worth $106,000. Finally, Global Trust Asset Management LLC lifted its stake in shares of MSC Industrial Direct by 327.3% during the 3rd quarter. Global Trust Asset Management LLC now owns 1,645 shares of the industrial products company’s stock worth $119,000 after purchasing an additional 1,260 shares during the period. Hedge funds and other institutional investors own 75.32% of the company’s stock.
About MSC Industrial Direct
MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products in the United States, Canada, and the United Kingdom. The company's MRO products comprise 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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