MSC Industrial Direct (NYSE:MSM) Reaches New 52-Week Low at $72.31

MSC Industrial Direct Co., Inc. (NYSE:MSMGet Rating)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $72.31 and last traded at $72.68, with a volume of 3481 shares. The stock had previously closed at $73.46.

MSM has been the subject of several analyst reports. Robert W. Baird raised their target price on shares of MSC Industrial Direct from $103.00 to $105.00 in a research note on Thursday, March 31st. Loop Capital lifted their price target on MSC Industrial Direct from $88.00 to $93.00 in a report on Thursday, March 31st. KeyCorp upped their price objective on MSC Industrial Direct from $91.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, March 31st. Finally, StockNews.com upgraded MSC Industrial Direct from a “hold” rating to a “buy” rating in a research note on Tuesday, May 17th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, MSC Industrial Direct presently has an average rating of “Moderate Buy” and an average target price of $102.20.

The company has a market cap of $4.06 billion, a P/E ratio of 13.89 and a beta of 1.00. The business has a fifty day moving average price of $82.35 and a 200-day moving average price of $82.10. The company has a quick ratio of 1.27, a current ratio of 2.37 and a debt-to-equity ratio of 0.47.

MSC Industrial Direct (NYSE:MSMGet Rating) last issued its quarterly earnings data on Wednesday, March 30th. The industrial products company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. MSC Industrial Direct had a return on equity of 24.70% and a net margin of 8.70%. The firm had revenue of $862.50 million for the quarter, compared to analyst estimates of $856.03 million. During the same period in the prior year, the firm posted $1.03 EPS. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. As a group, research analysts expect that MSC Industrial Direct Co., Inc. will post 6.08 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 26th. Shareholders of record on Tuesday, July 12th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend is Monday, July 11th. MSC Industrial Direct’s dividend payout ratio (DPR) is 56.71%.

In related news, Director Mitchell Jacobson purchased 4,654 shares of the firm’s stock in a transaction that occurred on Thursday, May 12th. The shares were bought at an average price of $79.19 per share, for a total transaction of $368,550.26. Following the completion of the transaction, the director now owns 72,450 shares of the company’s stock, valued at $5,737,315.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Douglas E. Jones sold 31,635 shares of the stock in a transaction that occurred on Thursday, March 31st. The stock was sold at an average price of $86.00, for a total transaction of $2,720,610.00. The disclosure for this sale can be found here. Insiders sold a total of 42,325 shares of company stock valued at $3,629,109 in the last three months. Insiders own 28.28% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ellevest Inc. increased its stake in shares of MSC Industrial Direct by 588.2% in the 1st quarter. Ellevest Inc. now owns 351 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 300 shares during the last quarter. Huntington National Bank grew its position in MSC Industrial Direct by 401.3% in the fourth quarter. Huntington National Bank now owns 376 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 301 shares during the last quarter. Pinebridge Investments L.P. acquired a new position in MSC Industrial Direct during the fourth quarter worth about $42,000. Bank of New Hampshire bought a new position in shares of MSC Industrial Direct in the first quarter worth about $82,000. Finally, James Reed Financial Services Inc. bought a new position in shares of MSC Industrial Direct in the fourth quarter worth about $81,000. Hedge funds and other institutional investors own 76.92% of the company’s stock.

MSC Industrial Direct Company Profile (NYSE:MSM)

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.

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