MSC Industrial Direct (NYSE:MSM) Sets New 12-Month High – What’s Next?

MSC Industrial Direct Company, Inc. (NYSE:MSM) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $96.81 and last traded at $95.3350, with a volume of 21695 shares traded. The stock had previously closed at $94.39.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group reissued a “hold” rating and set a $85.00 target price on shares of MSC Industrial Direct in a research note on Thursday, January 8th. KeyCorp reissued a “sector weight” rating on shares of MSC Industrial Direct in a research note on Thursday, January 8th. Zacks Research cut MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 3rd. Robert W. Baird set a $94.00 target price on MSC Industrial Direct in a report on Thursday, January 8th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $95.00 price target on shares of MSC Industrial Direct in a report on Friday, February 6th. Nine investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $90.50.

MSC Industrial Direct Trading Up 1.2%

The business has a fifty day moving average of $86.19 and a 200-day moving average of $87.62. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.82 and a current ratio of 1.73. The company has a market capitalization of $5.33 billion, a P/E ratio of 26.02 and a beta of 0.84.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings results on Wednesday, January 7th. The industrial products company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. MSC Industrial Direct had a net margin of 5.37% and a return on equity of 15.73%. The business had revenue of $965.68 million during the quarter, compared to analyst estimates of $962.52 million. During the same quarter in the previous year, the business posted $0.86 EPS. MSC Industrial Direct’s quarterly revenue was up 4.0% on a year-over-year basis. Analysts anticipate that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 28th. Investors of record on Wednesday, January 14th were issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Wednesday, January 14th. MSC Industrial Direct’s dividend payout ratio is currently 95.08%.

Insider Transactions at MSC Industrial Direct

In related news, Director Philip Peller purchased 6,666 shares of the business’s stock in a transaction on Thursday, November 13th. The stock was acquired at an average price of $90.14 per share, for a total transaction of $600,873.24. Following the purchase, the director owned 9,537 shares of the company’s stock, valued at approximately $859,665.18. This trade represents a 232.18% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mitchell Jacobson acquired 22,870 shares of the stock in a transaction dated Tuesday, November 18th. The stock was bought at an average cost of $84.96 per share, with a total value of $1,943,035.20. Following the completion of the purchase, the director owned 2,328,192 shares of the company’s stock, valued at approximately $197,803,192.32. The trade was a 0.99% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 19.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MSC Industrial Direct

Hedge funds have recently bought and sold shares of the company. 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. CANADA LIFE ASSURANCE Co grew its position in MSC Industrial Direct by 0.4% in the 3rd 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. GAMMA Investing LLC increased its stake in MSC Industrial Direct by 22.1% in the 4th quarter. GAMMA Investing LLC now owns 778 shares of the industrial products company’s stock valued at $65,000 after buying an additional 141 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of MSC Industrial Direct by 0.3% during the 4th quarter. HighTower Advisors LLC now owns 50,418 shares of the industrial products company’s stock worth $4,240,000 after buying an additional 147 shares in the last quarter. Finally, Hantz Financial Services Inc. lifted its position in shares of MSC Industrial Direct by 42.4% during the 4th quarter. Hantz Financial Services Inc. now owns 514 shares of the industrial products company’s stock worth $43,000 after buying an additional 153 shares in the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

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.