MSC Industrial Direct (NYSE:MSM) Sets New 1-Year High at $100.62

Posted by Defense World Staff on Aug 2nd, 2023

MSC Industrial Direct Co., Inc. (NYSE:MSM – Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $100.62 and last traded at $100.33, with a volume of 21402 shares changing hands. The stock had previously closed at $99.89.

Wall Street Analyst Weigh In

MSM has been the topic of a number of research reports. Robert W. Baird upped their price objective on MSC Industrial Direct from $104.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, June 30th. Stephens reiterated an “overweight” rating and set a $100.00 target price on shares of MSC Industrial Direct in a research report on Wednesday, April 5th. StockNews.com started coverage on MSC Industrial Direct in a research report on Thursday, May 18th. They set a “buy” rating for the company. KeyCorp upped their target price on MSC Industrial Direct from $97.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, April 21st. Finally, Loop Capital upped their price objective on MSC Industrial Direct from $82.00 to $89.00 and gave the stock a “hold” rating in a research report on Wednesday, April 5th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.17.

MSC Industrial Direct Trading Up 0.3 %

The business has a fifty day simple moving average of $96.19 and a 200-day simple moving average of $89.47. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.86 and a current ratio of 1.93. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of 15.79 and a beta of 1.02.

MSC Industrial Direct (NYSE:MSM – Get Free Report) last issued its earnings results on Thursday, June 29th. The industrial products company reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.01). The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.02 billion. MSC Industrial Direct had a return on equity of 25.42% and a net margin of 9.00%. MSC Industrial Direct’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.82 EPS. As a group, equities analysts forecast that MSC Industrial Direct Co., Inc. will post 6.29 earnings per share for the current fiscal year.

MSC Industrial Direct Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Tuesday, July 11th were paid a $0.79 dividend. The ex-dividend date of this dividend was Monday, July 10th. This represents a $3.16 annualized dividend and a dividend yield of 3.12%. MSC Industrial Direct’s payout ratio is 49.30%.

Insider Activity

In related news, SVP Elizabeth Bledsoe sold 3,094 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $99.90, for a total transaction of $309,090.60. Following the completion of the sale, the senior vice president now owns 3,398 shares of the company’s stock, valued at $339,460.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 28.39% of the company’s stock.

Institutional Investors Weigh In On MSC Industrial Direct

Large investors have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. boosted its holdings in MSC Industrial Direct by 20.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 30,040 shares of the industrial products company’s stock worth $2,455,000 after acquiring an additional 4,997 shares in the last quarter. UBS Group AG lifted its holdings in MSC Industrial Direct by 2,809.6% during the fourth quarter. UBS Group AG now owns 29,154 shares of the industrial products company’s stock worth $2,382,000 after acquiring an additional 28,152 shares during the period. Factorial Partners LLC lifted its holdings in MSC Industrial Direct by 10.2% during the first quarter. Factorial Partners LLC now owns 14,000 shares of the industrial products company’s stock worth $1,176,000 after acquiring an additional 1,300 shares during the period. Bleakley Financial Group LLC bought a new stake in MSC Industrial Direct during the fourth quarter worth $1,031,000. Finally, Campbell & CO Investment Adviser LLC lifted its holdings in MSC Industrial Direct by 51.9% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 8,539 shares of the industrial products company’s stock worth $698,000 after acquiring an additional 2,916 shares during the period. Institutional investors and hedge funds own 86.78% of the company’s stock.

About MSC Industrial Direct

(Get Free Report)

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products and services in the United States, Canada, Mexico, and the United Kingdom. Its MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock products, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components, and electrical supplies.