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

MSC Industrial Direct Company, Inc. (NYSE:MSM)’s stock price 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 Ratings Changes

Several analysts recently weighed in on the company. Wall Street Zen cut MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. iA Financial set a $95.00 price objective on MSC Industrial Direct in a research report on Friday, February 6th. Zacks Research cut shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 3rd. KeyCorp reaffirmed a “sector weight” rating on shares of MSC Industrial Direct in a research report on Thursday, January 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of MSC Industrial Direct in a research note on Wednesday, January 28th. Nine equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $90.50.

MSC Industrial Direct Stock Up 1.2%

The firm has a 50 day simple moving average of $86.19 and a two-hundred day simple moving average of $87.62. The stock has a market capitalization of $5.33 billion, a P/E ratio of 26.02 and a beta of 0.84. The company has a quick ratio of 0.82, a current ratio of 1.73 and a debt-to-equity ratio of 0.15.

MSC Industrial Direct (NYSE:MSM) last issued its earnings results on Wednesday, January 7th. The industrial products company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.95 by $0.04. The firm had revenue of $965.68 million during the quarter, compared to the consensus estimate of $962.52 million. MSC Industrial Direct had a return on equity of 15.73% and a net margin of 5.37%.The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.86 earnings per share. On average, equities research analysts expect that MSC Industrial Direct Company, Inc. will post 3.57 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, January 28th. Investors of record on Wednesday, January 14th were issued a dividend of $0.87 per share. The ex-dividend date of this dividend was Wednesday, January 14th. This represents a $3.48 annualized dividend and a dividend yield of 3.6%. MSC Industrial Direct’s dividend payout ratio (DPR) is 95.08%.

Insider Transactions at MSC Industrial Direct

In other news, Director Mitchell Jacobson purchased 22,870 shares of MSC Industrial Direct stock in a transaction dated Tuesday, November 18th. The shares were bought at an average cost of $84.96 per share, for a total transaction of $1,943,035.20. Following the completion of the acquisition, the director owned 2,328,192 shares in the company, valued at approximately $197,803,192.32. This trade represents a 0.99% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Philip Peller acquired 6,666 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The stock was acquired at an average price of $90.14 per share, with a total value of $600,873.24. Following the acquisition, the director owned 9,537 shares in the company, valued at $859,665.18. The trade was a 232.18% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 19.00% of the company’s stock.

Institutional Trading of MSC Industrial Direct

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quent Capital LLC acquired a new position in MSC Industrial Direct during the 3rd quarter worth about $31,000. Hantz Financial Services Inc. raised its position in shares of MSC Industrial Direct by 257.4% during the third quarter. Hantz Financial Services Inc. now owns 361 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 260 shares during the last quarter. Quarry LP lifted its stake in shares of MSC Industrial Direct by 71.7% in the third quarter. Quarry LP now owns 503 shares of the industrial products company’s stock worth $46,000 after acquiring an additional 210 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in 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 last quarter. Finally, First Horizon Advisors Inc. increased its position in MSC Industrial Direct by 52.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 595 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 204 shares during the period. 79.26% of the stock is currently owned by institutional investors and hedge funds.

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.