MSC Industrial Direct (NYSE:MSM) Sets New 12-Month High – Here’s Why

MSC Industrial Direct Company, Inc. (NYSE:MSM) reached a new 52-week high on Thursday . The company traded as high as $119.38 and last traded at $119.1960, with a volume of 49612 shares traded. The stock had previously closed at $116.55.

Analysts Set New Price Targets

A number of brokerages have issued reports on MSM. KeyCorp raised their target price on MSC Industrial Direct from $117.00 to $120.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 2nd. Weiss Ratings raised shares of MSC Industrial Direct from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. Finally, DA Davidson began coverage on shares of MSC Industrial Direct in a report on Tuesday, June 16th. They issued a “buy” rating and a $145.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $101.00.

MSC Industrial Direct Trading Up 2.3%

The stock has a market cap of $6.66 billion, a PE ratio of 32.09 and a beta of 0.84. The company’s 50-day moving average price is $107.79 and its 200 day moving average price is $95.59. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.78 and a current ratio of 1.73.

MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings data on Wednesday, April 1st. The industrial products company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.02). MSC Industrial Direct had a return on equity of 16.06% and a net margin of 5.42%.The business had revenue of $917.77 million during the quarter, compared to analysts’ expectations of $931.69 million. During the same quarter in the previous year, the company posted $0.72 earnings per share. The company’s revenue was up 2.9% on a year-over-year basis. On average, sell-side analysts forecast that MSC Industrial Direct Company, Inc. will post 4.36 EPS for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th will be given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Wednesday, July 8th. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 93.55%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. First Horizon Corp increased its position in shares of MSC Industrial Direct by 101.0% during 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 during the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of MSC Industrial Direct by 42.4% in the 4th quarter. Hantz Financial Services Inc. now owns 514 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 153 shares during the last quarter. Quarry LP boosted its position in shares of MSC Industrial Direct by 71.7% during the 3rd quarter. Quarry LP now owns 503 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 210 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of MSC Industrial Direct during the 4th quarter worth approximately $48,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of MSC Industrial Direct by 130.4% during the 2nd 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 period. 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.