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

MSC Industrial Direct Company, Inc. (NYSE:MSM) shares hit a new 52-week high on Wednesday . The stock traded as high as $127.55 and last traded at $127.1770, with a volume of 272233 shares trading hands. The stock had previously closed at $126.43.

Analysts Set New Price Targets

Several analysts have commented on the company. Jefferies Financial Group set a $130.00 price target on MSC Industrial Direct in a report on Wednesday, July 1st. Wall Street Zen raised shares of MSC Industrial Direct from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. KeyCorp increased their price target on shares of MSC Industrial Direct from $132.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Zacks Research upgraded shares of MSC Industrial Direct from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 2nd. Finally, DA Davidson boosted their price objective on shares of MSC Industrial Direct from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, MSC Industrial Direct has a consensus rating of “Moderate Buy” and an average target price of $123.43.

MSC Industrial Direct Price Performance

The stock has a market cap of $7.02 billion, a PE ratio of 30.35 and a beta of 0.83. The company has a current ratio of 1.55, a quick ratio of 0.72 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average is $116.73 and its 200-day moving average is $101.05.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data on Wednesday, July 1st. The industrial products company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.15. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. MSC Industrial Direct had a net margin of 5.91% and a return on equity of 17.34%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.08 EPS. As a group, sell-side analysts predict that MSC Industrial Direct Company, Inc. will post 4.47 earnings per share for the current year.

MSC Industrial Direct Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th were paid a $0.87 dividend. The ex-dividend date was Wednesday, July 8th. This represents a $3.48 annualized dividend and a dividend yield of 2.8%. MSC Industrial Direct’s payout ratio is 84.06%.

Institutional Investors Weigh In On MSC Industrial Direct

Hedge funds have recently bought and sold shares of the business. Auto Owners Insurance Co boosted its stake in shares of MSC Industrial Direct by 12,181.8% during the 4th quarter. Auto Owners Insurance Co now owns 3,254,670 shares of the industrial products company’s stock valued at $273,718,000 after buying an additional 3,228,170 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in shares of MSC Industrial Direct by 11.7% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,796,316 shares of the industrial products company’s stock worth $151,070,000 after buying an additional 187,440 shares during the last quarter. First Trust Advisors LP increased its stake in shares of MSC Industrial Direct by 20.9% in the first quarter. First Trust Advisors LP now owns 1,773,133 shares of the industrial products company’s stock worth $163,607,000 after buying an additional 306,436 shares during the last quarter. Boston Partners raised its holdings in MSC Industrial Direct by 2.1% in the third quarter. Boston Partners now owns 1,764,875 shares of the industrial products company’s stock valued at $162,605,000 after acquiring an additional 36,626 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in MSC Industrial Direct by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,357,419 shares of the industrial products company’s stock valued at $125,240,000 after acquiring an additional 14,484 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

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.