MSC Industrial Direct (NYSE:MSM) Hits New 1-Year High – Should You Buy?

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

Analyst Ratings Changes

Several research firms have issued reports on MSM. Rothschild & Co Redburn began coverage on MSC Industrial Direct in a report on Monday, July 13th. They set a “buy” rating and a $155.00 price objective on the stock. Jefferies Financial Group set a $130.00 price objective on MSC Industrial Direct in a research report on Wednesday, July 1st. Zacks Research upgraded shares of MSC Industrial Direct from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 2nd. Weiss Ratings raised shares of MSC Industrial Direct from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 7th. Finally, Wall Street Zen upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $123.43.

MSC Industrial Direct Trading Down 1.3%

The company has a market capitalization of $6.92 billion, a price-to-earnings ratio of 29.93 and a beta of 0.83. The company has a quick ratio of 0.72, a current ratio of 1.55 and a debt-to-equity ratio of 0.06. The company’s fifty day simple moving average is $120.31 and its two-hundred day simple moving average is $103.86.

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

MSC Industrial Direct Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th were issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Wednesday, July 8th. MSC Industrial Direct’s dividend payout ratio is 84.06%.

Institutional Trading of MSC Industrial Direct

A number of hedge funds and other institutional investors have recently made changes to their positions in MSM. Elevation Wealth Partners LLC raised its holdings in MSC Industrial Direct by 89.9% during the second 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 in the last quarter. First Horizon Corp grew 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 in the last quarter. Quarry LP lifted its holdings in shares of MSC Industrial Direct by 71.7% during the 3rd 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. Hantz Financial Services Inc. grew its holdings 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 valued at $43,000 after purchasing an additional 153 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new position in MSC Industrial Direct in the 4th quarter valued at approximately $48,000. 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.