MSC Industrial Direct (NYSE:MSM) Reaches New 1-Year High – Still a Buy?

MSC Industrial Direct Company, Inc. (NYSE:MSM)’s stock price reached a new 52-week high during mid-day 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.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of MSC Industrial Direct in a research report on Wednesday, January 28th. Jefferies Financial Group restated a “hold” rating and issued a $85.00 price objective on shares of MSC Industrial Direct in a research note on Thursday, January 8th. KeyCorp reaffirmed a “sector weight” rating on shares of MSC Industrial Direct in a report on Thursday, January 8th. JPMorgan Chase & Co. raised their price target on MSC Industrial Direct from $93.00 to $96.00 and gave the stock an “overweight” rating in a report on Friday, October 24th. Finally, Zacks Research downgraded MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 3rd. One research analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $89.67.

MSC Industrial Direct Stock Performance

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

MSC Industrial Direct (NYSE:MSM) last issued its earnings results on Wednesday, January 7th. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. MSC Industrial Direct had a return on equity of 15.73% and a net margin of 5.37%.The business had revenue of $965.68 million during the quarter, compared to the consensus estimate of $962.52 million. During the same period in the prior year, the business posted $0.86 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, analysts predict that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 28th. Shareholders of record on Wednesday, January 14th were given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Wednesday, January 14th. MSC Industrial Direct’s payout ratio is presently 95.08%.

Insiders Place Their Bets

In other news, Director Mitchell Jacobson purchased 22,870 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The shares were acquired at an average price of $84.96 per share, with a total value of $1,943,035.20. Following the purchase, the director directly owned 2,328,192 shares of the company’s stock, valued at $197,803,192.32. The trade was a 0.99% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Philip Peller bought 6,666 shares of the firm’s stock in a transaction on Thursday, November 13th. The shares were purchased at an average price of $90.14 per share, for a total transaction of $600,873.24. Following the completion of the transaction, the director owned 9,537 shares of the company’s stock, valued at $859,665.18. This represents a 232.18% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 19.00% of the company’s stock.

Hedge Funds Weigh In On MSC Industrial Direct

Several hedge funds have recently bought and sold shares of the stock. Quent Capital LLC purchased a new stake in MSC Industrial Direct during the 3rd quarter worth about $31,000. Hantz Financial Services Inc. grew its holdings in shares of MSC Industrial Direct by 257.4% during the third quarter. Hantz Financial Services Inc. now owns 361 shares of the industrial products company’s stock worth $33,000 after buying an additional 260 shares in the last quarter. Quarry LP grew its holdings in shares of MSC Industrial Direct by 71.7% during the third quarter. Quarry LP now owns 503 shares of the industrial products company’s stock worth $46,000 after buying an additional 210 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake 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 valued at $49,000 after buying an additional 326 shares during the period. Finally, First Horizon Advisors Inc. boosted its position in 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 acquiring an additional 204 shares during the last quarter. Hedge funds and other institutional investors 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.