MSC Industrial Direct (NYSE:MSM) Reaches New 12-Month High – Here’s What Happened

MSC Industrial Direct Company, Inc. (NYSE:MSM)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $94.55 and last traded at $94.9250, with a volume of 153609 shares traded. The stock had previously closed at $91.18.

Analyst Ratings Changes

Several analysts have issued reports on MSM shares. Weiss Ratings restated a “hold (c)” rating on shares of MSC Industrial Direct in a report on Wednesday, January 28th. Jefferies Financial Group reissued a “hold” rating and issued a $85.00 price objective on shares of MSC Industrial Direct in a report on Thursday, January 8th. Robert W. Baird set a $94.00 price objective on shares of MSC Industrial Direct in a research report on Thursday, January 8th. Zacks Research downgraded shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 3rd. Finally, Wall Street Zen cut shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a research note on Saturday. One analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, MSC Industrial Direct currently has an average rating of “Hold” and a consensus price target of $89.67.

MSC Industrial Direct Stock Up 3.8%

The business has a 50-day simple moving average of $85.53 and a 200-day simple moving average of $87.36. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.82 and a current ratio of 1.73. The company has a market cap of $5.28 billion, a price-to-earnings ratio of 25.82 and a beta of 0.84.

MSC Industrial Direct (NYSE:MSM) last released its earnings results on Wednesday, January 7th. The industrial products company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. The firm had revenue of $965.68 million for the quarter, compared to analyst estimates of $962.52 million. MSC Industrial Direct had a net margin of 5.37% and a return on equity of 15.73%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.86 earnings per share. On average, equities analysts anticipate that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current fiscal year.

MSC Industrial Direct Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 28th. Stockholders of record on Wednesday, January 14th were issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Wednesday, January 14th. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 95.08%.

Insider Buying and Selling at MSC Industrial Direct

In other MSC Industrial Direct news, Director Philip Peller acquired 6,666 shares of the company’s stock in a transaction dated Thursday, November 13th. The shares were acquired at an average price of $90.14 per share, for a total transaction of $600,873.24. Following the acquisition, the director owned 9,537 shares in the company, valued at $859,665.18. The trade was a 232.18% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mitchell Jacobson bought 22,870 shares of the business’s stock in a transaction dated Tuesday, November 18th. The shares were acquired at an average cost of $84.96 per share, for a total transaction of $1,943,035.20. Following the transaction, the director directly owned 2,328,192 shares in the company, valued at approximately $197,803,192.32. This represents a 0.99% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 19.00% of the stock is currently owned by insiders.

Institutional Trading of MSC Industrial Direct

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quent Capital LLC purchased a new position in shares of MSC Industrial Direct in the 3rd quarter valued at $31,000. Hantz Financial Services Inc. boosted its stake in MSC Industrial Direct by 257.4% in the third quarter. Hantz Financial Services Inc. now owns 361 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 260 shares in the last quarter. Quarry LP boosted its stake in MSC Industrial Direct by 71.7% in the third quarter. Quarry LP now owns 503 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 210 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of MSC Industrial Direct by 130.4% during the second quarter. EverSource Wealth Advisors LLC now owns 576 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 326 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its position in shares of MSC Industrial Direct by 52.2% during the second quarter. First Horizon Advisors Inc. now owns 595 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 204 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc (NYSE: MSM) is a leading distributor of metalworking and maintenance, repair and operations (MRO) products serving a broad range of industrial customers across North America. The company offers an extensive portfolio of cutting tools, abrasives, measuring and inspection instruments, fasteners, safety supplies and other essential components used in manufacturing, metalworking and production environments. MSC delivers products through a multi-channel distribution network, including an extensive branch system, e-commerce platform and dedicated sales force.

In addition to its core product offerings, MSC Industrial Direct provides value-added services designed to improve productivity and reduce downtime for its customers.