MSC Industrial Direct (NYSE:MSM) Hits New 12-Month High – Time to Buy?

Shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) hit a new 52-week high on Tuesday . The stock traded as high as $109.09 and last traded at $108.99, with a volume of 220383 shares traded. The stock had previously closed at $106.50.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of MSC Industrial Direct in a research note on Monday, April 27th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $95.00 price objective on shares of MSC Industrial Direct in a research report on Friday, February 6th. Wall Street Zen lowered MSC Industrial Direct from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. iA Financial set a $95.00 price target on MSC Industrial Direct in a research note on Friday, February 6th. Finally, KeyCorp upgraded MSC Industrial Direct from a “sector weight” rating to an “overweight” rating and set a $117.00 price target for the company in a research report on Monday, April 27th. One research analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $94.29.

MSC Industrial Direct Price Performance

The company has a market capitalization of $6.08 billion, a PE ratio of 29.30 and a beta of 0.83. 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 stock’s 50 day simple moving average is $97.23 and its 200-day simple moving average is $91.26.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data 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 business posted $0.72 EPS. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, equities analysts forecast that MSC Industrial Direct Company, Inc. will post 4.34 earnings per share for the current fiscal year.

MSC Industrial Direct Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 8th were paid a $0.87 dividend. The ex-dividend date was Wednesday, April 8th. This represents a $3.48 annualized dividend and a dividend yield of 3.2%. MSC Industrial Direct’s payout ratio is 93.55%.

Institutional Trading of MSC Industrial Direct

Hedge funds have recently modified their holdings of the stock. Hantz Financial Services Inc. grew its stake in MSC Industrial Direct by 257.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 361 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 260 shares in the last quarter. First Horizon Corp raised its position in MSC Industrial Direct by 101.0% in the 1st 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 in the last quarter. Quarry LP boosted its stake in shares of MSC Industrial Direct by 71.7% in the 3rd quarter. Quarry LP now owns 503 shares of the industrial products company’s stock valued at $46,000 after buying an additional 210 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of MSC Industrial Direct in the 4th quarter valued at about $48,000. Finally, EverSource Wealth Advisors LLC grew its position 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 buying an additional 326 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors and hedge funds.

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.