MSC Industrial Direct (NYSE:MSM) Hits New 52-Week High – Still a Buy?

MSC Industrial Direct Company, Inc. (NYSE:MSM) shares 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 changing hands. The stock had previously closed at $94.39.

Analyst Upgrades and Downgrades

Several analysts have commented on MSM shares. Weiss Ratings reiterated a “hold (c)” rating on shares of MSC Industrial Direct in a research note on Wednesday, January 28th. KeyCorp restated a “sector weight” rating on shares of MSC Industrial Direct in a report on Thursday, January 8th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $95.00 price objective on shares of MSC Industrial Direct in a research note on Friday, February 6th. iA Financial set a $95.00 target price on MSC Industrial Direct in a research report on Friday, February 6th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $85.00 price target on shares of MSC Industrial Direct in a research report on Thursday, January 8th. Nine analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $90.50.

MSC Industrial Direct Price Performance

The company has a quick ratio of 0.82, a current ratio of 1.73 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $5.22 billion, a PE ratio of 25.34 and a beta of 0.84. The firm’s 50 day simple moving average is $86.63 and its 200 day simple moving average is $87.71.

MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings results on Wednesday, January 7th. The industrial products company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.04. MSC Industrial Direct had a return on equity of 15.73% and a net margin of 5.37%.The firm had revenue of $965.68 million for the quarter, compared to the consensus estimate of $962.52 million. During the same period in the prior year, the business posted $0.86 earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, research analysts anticipate that MSC Industrial Direct Company, Inc. will post 3.57 EPS for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 28th. Stockholders of record on Wednesday, January 14th were paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Wednesday, January 14th. MSC Industrial Direct’s payout ratio is currently 95.08%.

Insider Activity

In other news, Director Mitchell Jacobson acquired 22,870 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The shares were bought at an average price of $84.96 per share, with a total value of $1,943,035.20. Following the completion of the purchase, the director directly owned 2,328,192 shares in the company, valued at $197,803,192.32. This trade represents a 0.99% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 19.00% of the company’s stock.

Institutional Investors Weigh In On MSC Industrial Direct

Hedge funds have recently made changes to their positions in the company. Royal Bank of Canada increased its stake in shares of MSC Industrial Direct by 4.8% during the first quarter. Royal Bank of Canada now owns 46,990 shares of the industrial products company’s stock valued at $3,650,000 after buying an additional 2,164 shares during the period. Integrated Wealth Concepts LLC bought a new position in MSC Industrial Direct during the 1st quarter worth about $455,000. NewEdge Advisors LLC increased its position in MSC Industrial Direct by 79.9% during the 1st quarter. NewEdge Advisors LLC now owns 750 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 333 shares during the period. United Services Automobile Association bought a new stake in shares of MSC Industrial Direct in the 1st quarter valued at about $229,000. Finally, Empowered Funds LLC purchased a new stake in shares of MSC Industrial Direct in the 1st quarter worth approximately $816,000. 79.26% of the stock is currently 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.