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

MSC Industrial Direct Co., Inc. (NYSE:MSM)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $72.73 and last traded at $75.59, with a volume of 559843 shares traded. The stock had previously closed at $79.28.

Wall Street Analysts Forecast Growth

MSM has been the subject of several recent analyst reports. Robert W. Baird reduced their price objective on shares of MSC Industrial Direct from $90.00 to $84.00 and set a “neutral” rating for the company in a research note on Friday. Wolfe Research initiated coverage on shares of MSC Industrial Direct in a report on Thursday, January 16th. They issued an “outperform” rating and a $95.00 price target on the stock. Finally, Loop Capital dropped their price objective on MSC Industrial Direct from $83.00 to $74.00 and set a “hold” rating for the company in a research note on Friday. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $82.20.

MSC Industrial Direct Stock Down 5.3 %

The company has a debt-to-equity ratio of 0.21, a current ratio of 1.93 and a quick ratio of 0.91. The stock has a 50 day moving average price of $79.50 and a 200-day moving average price of $81.35. The stock has a market capitalization of $3.98 billion, a P/E ratio of 16.99 and a beta of 0.89.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings data on Thursday, April 3rd. The industrial products company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.04. MSC Industrial Direct had a return on equity of 17.80% and a net margin of 6.21%. The firm had revenue of $891.70 million during the quarter, compared to the consensus estimate of $908.30 million. During the same quarter in the previous year, the company posted $1.18 earnings per share. The business’s revenue was down 4.7% on a year-over-year basis. As a group, research analysts expect that MSC Industrial Direct Co., Inc. will post 3.57 EPS for the current fiscal year.

MSC Industrial Direct Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 4.78%. The ex-dividend date is Wednesday, April 9th. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 81.15%.

Institutional Trading of MSC Industrial Direct

Hedge funds have recently modified their holdings of the business. American Century Companies Inc. increased its stake in shares of MSC Industrial Direct by 6.0% during the fourth quarter. American Century Companies Inc. now owns 3,418,260 shares of the industrial products company’s stock valued at $255,310,000 after purchasing an additional 193,860 shares in the last quarter. First Trust Advisors LP increased its position in MSC Industrial Direct by 29.2% during the 4th quarter. First Trust Advisors LP now owns 1,987,455 shares of the industrial products company’s stock valued at $148,443,000 after buying an additional 448,708 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in MSC Industrial Direct by 8.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,693,256 shares of the industrial products company’s stock worth $126,469,000 after acquiring an additional 126,218 shares in the last quarter. Boston Partners grew its stake in shares of MSC Industrial Direct by 7.2% in the fourth quarter. Boston Partners now owns 1,434,415 shares of the industrial products company’s stock worth $107,168,000 after acquiring an additional 96,335 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in MSC Industrial Direct by 127.5% in the 4th quarter. Invesco Ltd. now owns 1,206,811 shares of the industrial products company’s stock worth $90,137,000 after purchasing an additional 676,238 shares in the last quarter. Institutional investors own 79.26% of the company’s stock.

MSC Industrial Direct Company Profile

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, the United Kingdom, and internationally. The company's 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.