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

MSC Industrial Direct Company, Inc. (NYSE:MSM) shares hit a new 52-week high on Wednesday . The company traded as high as $127.55 and last traded at $127.1770, with a volume of 272233 shares trading hands. The stock had previously closed at $126.43.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Wall Street Zen raised MSC Industrial Direct from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Zacks Research raised MSC Industrial Direct from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 2nd. DA Davidson upped their target price on MSC Industrial Direct from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. KeyCorp raised their price target on MSC Industrial Direct from $132.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Finally, Rothschild & Co Redburn assumed coverage on MSC Industrial Direct in a research report on Monday, July 13th. They set a “buy” rating and a $155.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $123.43.

MSC Industrial Direct Trading Up 0.6%

The business’s 50 day simple moving average is $115.95 and its 200 day simple moving average is $100.46. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.55 and a quick ratio of 0.72. The company has a market capitalization of $7.10 billion, a price-to-earnings ratio of 30.72 and a beta of 0.83.

MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings results on Wednesday, July 1st. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.15. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. MSC Industrial Direct had a return on equity of 17.34% and a net margin of 5.91%.The business’s revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the company posted $1.08 earnings per share. Research analysts anticipate that MSC Industrial Direct Company, Inc. will post 4.47 EPS for the current year.

MSC Industrial Direct Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th will be paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Wednesday, July 8th. MSC Industrial Direct’s dividend payout ratio is 84.06%.

Hedge Funds Weigh In On MSC Industrial Direct

Several institutional investors have recently bought and sold shares of the company. Elevation Wealth Partners LLC raised its position in MSC Industrial Direct by 89.9% during the 2nd quarter. Elevation Wealth Partners LLC now owns 245 shares of the industrial products company’s stock worth $29,000 after buying an additional 116 shares during the last quarter. First Horizon Corp boosted its holdings in shares of 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 acquiring an additional 201 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in shares of MSC Industrial Direct by 42.4% in the fourth quarter. Hantz Financial Services Inc. now owns 514 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 153 shares in the last quarter. Quarry LP increased its stake 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 acquiring an additional 210 shares during the period. Finally, Kestra Advisory Services LLC acquired a new position in shares of MSC Industrial Direct during the fourth quarter worth about $48,000. 79.26% of the stock is owned by institutional investors and hedge funds.

About MSC Industrial Direct

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.