MSC Industrial Direct (NYSE:MSM) Sets New 1-Year High – Here’s What Happened

MSC Industrial Direct Company, Inc. (NYSE:MSM) shares hit a new 52-week high on Tuesday . The company traded as high as $119.07 and last traded at $117.9630, with a volume of 10976 shares changing hands. The stock had previously closed at $115.59.

Wall Street Analyst Weigh In

MSM has been the topic of a number of research analyst reports. KeyCorp boosted their price objective on shares of MSC Industrial Direct from $117.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, June 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of MSC Industrial Direct in a report on Monday, April 27th. One investment analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $94.71.

MSC Industrial Direct Stock Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 1.73 and a quick ratio of 0.78. The company has a market capitalization of $6.52 billion, a PE ratio of 31.32 and a beta of 0.84. The firm’s fifty day simple moving average is $101.99 and its 200 day simple moving average is $93.04.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings results on Wednesday, April 1st. The industrial products company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.02). MSC Industrial Direct had a net margin of 5.42% and a return on equity of 16.06%. The business had revenue of $917.77 million during the quarter, compared to analysts’ expectations of $931.69 million. During the same period in the previous year, the company posted $0.72 earnings per share. MSC Industrial Direct’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, research analysts predict that MSC Industrial Direct Company, Inc. will post 4.33 EPS for the current year.

MSC Industrial Direct Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 8th were issued a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Wednesday, April 8th. MSC Industrial Direct’s dividend payout ratio is presently 93.55%.

Institutional Investors Weigh In On MSC Industrial Direct

Several hedge funds have recently added to or reduced their stakes in MSM. Hantz Financial Services Inc. boosted its holdings 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 purchasing an additional 260 shares during the last quarter. First Horizon Corp boosted its holdings in MSC Industrial Direct by 101.0% in the first quarter. First Horizon Corp now owns 400 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 201 shares during the last quarter. Quarry LP raised its position in shares of MSC Industrial Direct by 71.7% in the third quarter. Quarry LP now owns 503 shares of the industrial products company’s stock worth $46,000 after acquiring an additional 210 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of MSC Industrial Direct in the fourth quarter worth about $48,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of MSC Industrial Direct by 130.4% in the second quarter. EverSource Wealth Advisors LLC now owns 576 shares of the industrial products company’s stock worth $49,000 after acquiring an additional 326 shares during the period. 79.26% of the stock is owned by hedge funds and other institutional investors.

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.