Robert W. Baird Boosts MSC Industrial Direct (NYSE:MSM) Price Target to $91.00

by · The Cerbat Gem

MSC Industrial Direct (NYSE:MSM – Free Report) had its price target hoisted by Robert W. Baird from $84.00 to $91.00 in a research report sent to investors on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

Several other equities analysts have also weighed in on the stock. Loop Capital reduced their price target on shares of MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. decreased their price target on shares of MSC Industrial Direct from $81.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $91.60.

Check Out Our Latest Report on MSC Industrial Direct

MSC Industrial Direct Stock Up 0.2 %

MSM stock opened at $84.20 on Wednesday. The stock has a market cap of $4.73 billion, a P/E ratio of 16.35 and a beta of 0.86. The company has a current ratio of 2.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.21. The stock’s fifty day simple moving average is $81.98 and its two-hundred day simple moving average is $84.88. MSC Industrial Direct has a 1-year low of $75.05 and a 1-year high of $104.76.

MSC Industrial Direct Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a $0.85 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $3.40 annualized dividend and a dividend yield of 4.04%. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.83. MSC Industrial Direct’s payout ratio is 66.02%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. lifted its position in shares of MSC Industrial Direct by 1,142.3% during the second quarter. Blue Trust Inc. now owns 323 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 297 shares in the last quarter. Ridgewood Investments LLC purchased a new stake in MSC Industrial Direct during the 2nd quarter worth about $26,000. V Square Quantitative Management LLC bought a new position in MSC Industrial Direct in the 3rd quarter worth about $26,000. UMB Bank n.a. grew its holdings in MSC Industrial Direct by 442.1% during the 3rd quarter. UMB Bank n.a. now owns 309 shares of the industrial products company’s stock valued at $27,000 after buying an additional 252 shares in the last quarter. Finally, Quest Partners LLC increased its position in shares of MSC Industrial Direct by 35,300.0% during the second quarter. Quest Partners LLC now owns 354 shares of the industrial products company’s stock valued at $28,000 after buying an additional 353 shares during the period. 79.26% of the stock is owned by institutional investors.

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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