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

MSC Industrial Direct Company, Inc. (NYSE:MSM)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $109.09 and last traded at $108.99, with a volume of 220383 shares. The stock had previously closed at $106.50.

Wall Street Analyst Weigh In

Several research analysts have commented on MSM shares. Wall Street Zen cut shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MSC Industrial Direct in a research report on Monday, April 27th. iA Financial set a $95.00 target price on shares of MSC Industrial Direct in a research note on Friday, February 6th. KeyCorp raised MSC Industrial Direct from a “sector weight” rating to an “overweight” rating and set a $117.00 target price on the stock in a report on Monday, April 27th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $95.00 price target on shares of MSC Industrial Direct in a research note on Friday, February 6th. One equities research analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $94.29.

MSC Industrial Direct Price Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 1.73 and a quick ratio of 0.78. The company’s 50 day simple moving average is $97.23 and its 200 day simple moving average is $91.26. The company has a market capitalization of $6.08 billion, a PE ratio of 29.30 and a beta of 0.83.

MSC Industrial Direct (NYSE:MSM) last issued its earnings results on Wednesday, April 1st. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.02). The company had revenue of $917.77 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.72 EPS. As a group, sell-side analysts predict that MSC Industrial Direct Company, Inc. will post 4.34 earnings per share for the current year.

MSC Industrial Direct Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 8th were paid a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 3.2%. The ex-dividend date was Wednesday, April 8th. MSC Industrial Direct’s dividend payout ratio is currently 93.55%.

Institutional Trading of MSC Industrial Direct

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hantz Financial Services Inc. boosted its position in shares of MSC Industrial Direct by 257.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 361 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 260 shares during the period. First Horizon Corp increased its position in MSC Industrial Direct by 101.0% during the first quarter. First Horizon Corp now owns 400 shares of the industrial products company’s stock worth $37,000 after buying an additional 201 shares during the period. Quarry LP lifted its stake in MSC Industrial Direct by 71.7% in the third quarter. Quarry LP now owns 503 shares of the industrial products company’s stock valued at $46,000 after buying an additional 210 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in MSC Industrial Direct in the fourth quarter valued at approximately $48,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of MSC Industrial Direct by 130.4% in the second quarter. EverSource Wealth Advisors LLC now owns 576 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 326 shares during the period. 79.26% of the stock is owned by hedge funds and other institutional investors.

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.