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

MSC Industrial Direct Company, Inc. (NYSE:MSM)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $130.00 and last traded at $129.7450, with a volume of 5622 shares. The stock had previously closed at $126.74.

Analyst Upgrades and Downgrades

MSM has been the subject of a number of research analyst reports. Wall Street Zen raised MSC Industrial Direct from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Zacks Research raised MSC Industrial Direct from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 2nd. Weiss Ratings upgraded MSC Industrial Direct from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, July 7th. KeyCorp boosted their price objective on MSC Industrial Direct from $132.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, July 1st. Finally, Rothschild & Co Redburn initiated coverage on MSC Industrial Direct in a research note on Monday, July 13th. They set a “buy” rating and a $155.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $123.43.

MSC Industrial Direct Trading Up 1.5%

The firm has a market capitalization of $7.18 billion, a price-to-earnings ratio of 31.07 and a beta of 0.83. The business’s fifty day moving average is $119.67 and its 200 day moving average is $103.31. The company has a quick ratio of 0.72, a current ratio of 1.55 and a debt-to-equity ratio of 0.06.

MSC Industrial Direct (NYSE:MSM) last announced its earnings results on Wednesday, July 1st. The industrial products company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.15. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. MSC Industrial Direct had a net margin of 5.91% and a return on equity of 17.34%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.08 EPS. Equities analysts predict that MSC Industrial Direct Company, Inc. will post 4.49 earnings per share for the current year.

MSC Industrial Direct Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th were given 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 of this dividend was Wednesday, July 8th. MSC Industrial Direct’s dividend payout ratio is currently 84.06%.

Institutional Investors Weigh In On MSC Industrial Direct

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Elevation Wealth Partners LLC boosted 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 acquiring an additional 116 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of MSC Industrial Direct by 3.9% during the 1st quarter. Parallel Advisors LLC now owns 3,112 shares of the industrial products company’s stock worth $287,000 after acquiring an additional 118 shares in the last quarter. Allworth Financial LP raised its holdings in shares of MSC Industrial Direct by 25.9% in the fourth quarter. Allworth Financial LP now owns 628 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 129 shares during the last quarter. Boothbay Fund Management LLC raised its holdings in shares of MSC Industrial Direct by 6.0% in the fourth quarter. Boothbay Fund Management LLC now owns 2,389 shares of the industrial products company’s stock valued at $201,000 after purchasing an additional 136 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of MSC Industrial Direct by 0.4% in the third quarter. CANADA LIFE ASSURANCE Co now owns 34,884 shares of the industrial products company’s stock worth $3,169,000 after purchasing an additional 136 shares in the last quarter. Institutional investors and hedge funds 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.