KeyCorp Reiterates Hold Rating for MSC Industrial Direct Company, Inc. (MSM)

MSC Industrial Direct Company, Inc. (NYSE:MSM)‘s stock had its “hold” rating reiterated by equities research analysts at KeyCorp in a research report issued to clients and investors on Tuesday.

Other research analysts also recently issued reports about the company. Zacks Investment Research raised MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $99.00 price target on the stock in a report on Saturday, July 8th. Credit Suisse Group set a $93.00 price target on MSC Industrial Direct and gave the company a “buy” rating in a report on Friday, October 6th. Gabelli raised MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a report on Friday, October 13th. TheStreet downgraded MSC Industrial Direct from a “b” rating to a “c+” rating in a report on Wednesday, August 16th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $78.00 price target (down from $88.00) on shares of MSC Industrial Direct in a report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $88.38.

MSC Industrial Direct (NYSE MSM) traded up 0.25% during midday trading on Tuesday, hitting $78.93. The stock had a trading volume of 77,735 shares. The firm has a 50 day moving average of $73.42 and a 200 day moving average of $79.85. MSC Industrial Direct has a 52 week low of $65.42 and a 52 week high of $105.70. The firm has a market cap of $4.50 billion, a price-to-earnings ratio of 19.68 and a beta of 0.54.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of MSC Industrial Direct by 0.9% in the first quarter. Vanguard Group Inc. now owns 4,450,313 shares of the industrial products company’s stock worth $457,315,000 after buying an additional 37,928 shares during the period. BlackRock Inc. raised its stake in shares of MSC Industrial Direct by 7,681.5% in the first quarter. BlackRock Inc. now owns 3,725,557 shares of the industrial products company’s stock worth $382,836,000 after buying an additional 3,677,680 shares during the period. JPMorgan Chase & Co. raised its stake in shares of MSC Industrial Direct by 26.2% in the second quarter. JPMorgan Chase & Co. now owns 3,124,573 shares of the industrial products company’s stock worth $268,588,000 after buying an additional 649,201 shares during the period. Alliancebernstein L.P. raised its stake in shares of MSC Industrial Direct by 267.2% in the second quarter. Alliancebernstein L.P. now owns 1,441,259 shares of the industrial products company’s stock worth $123,891,000 after buying an additional 1,048,714 shares during the period. Finally, State Street Corp raised its stake in shares of MSC Industrial Direct by 1.6% in the second quarter. State Street Corp now owns 1,222,773 shares of the industrial products company’s stock worth $105,113,000 after buying an additional 19,302 shares during the period. 75.59% of the stock is currently owned by hedge funds and other institutional investors.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc is a North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. The Company’s range of MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components and electrical supplies.

Analyst Recommendations for MSC Industrial Direct (NYSE:MSM)

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