MSC Industrial Direct (NYSE:MSM) Hits New 52-Week High – Time to Buy?

MSC Industrial Direct Company, Inc. (NYSE:MSM) shares hit a new 52-week high on Wednesday . The stock traded as high as $105.41 and last traded at $105.2490, with a volume of 27582 shares traded. The stock had previously closed at $103.01.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MSM shares. iA Financial set a $95.00 price objective on MSC Industrial Direct in a research note on Friday, February 6th. Jefferies Financial Group reissued a “hold” rating and set a $85.00 price objective on shares of MSC Industrial Direct in a research note on Thursday, January 8th. Robert W. Baird set a $94.00 price objective on MSC Industrial Direct in a research note on Thursday, January 8th. Wall Street Zen cut shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $95.00 price objective on shares of MSC Industrial Direct in a research report on Friday, February 6th. One investment analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, MSC Industrial Direct currently has an average rating of “Hold” and an average price target of $94.29.

MSC Industrial Direct Stock Performance

The stock has a market cap of $5.88 billion, a P/E ratio of 28.30 and a beta of 0.83. The business has a 50 day moving average price of $93.44 and a 200 day moving average price of $89.33. The company has a quick ratio of 0.78, a current ratio of 1.73 and a debt-to-equity ratio of 0.14.

MSC Industrial Direct (NYSE:MSM) last released its earnings results on Wednesday, April 1st. The industrial products company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). The business had revenue of $917.77 million for the quarter, compared to the consensus estimate of $931.69 million. MSC Industrial Direct had a net margin of 5.42% and a return on equity of 16.06%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.72 EPS. As a group, sell-side analysts expect that MSC Industrial Direct Company, Inc. will post 4.34 EPS for the current year.

MSC Industrial Direct Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 22nd. Investors of record on Wednesday, April 8th were paid a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Wednesday, April 8th. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 93.55%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its stake in MSC Industrial Direct by 4.8% in the first quarter. Royal Bank of Canada now owns 46,990 shares of the industrial products company’s stock worth $3,650,000 after purchasing an additional 2,164 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in MSC Industrial Direct in the first quarter worth approximately $455,000. NewEdge Advisors LLC grew its stake in MSC Industrial Direct by 79.9% in the first quarter. NewEdge Advisors LLC now owns 750 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 333 shares in the last quarter. United Services Automobile Association bought a new position in MSC Industrial Direct in the first quarter worth approximately $229,000. Finally, Empowered Funds LLC bought a new position in MSC Industrial Direct in the first quarter worth approximately $816,000. Hedge funds and other institutional investors own 79.26% of the company’s stock.

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.