MSC Industrial Direct (NYSE:MSM) Hits New 52-Week High - Here's What Happened

Key Points

• 52-week high: MSC Industrial Direct's shares hit a new 52-week high, trading as high as $97.31 (last $96.72) on Friday—up roughly 3.5% and trading above the analysts' consensus target of $90.50.
• Quarterly results missed estimates: The company reported EPS of $0.82 and revenue of $917.8M, missing consensus estimates of $0.84 and $931.7M, though revenue was up 2.9% year‑over‑year.
• Dividend announced: MSC declared a $0.87 quarterly dividend (annualized $3.48) for a ~3.6% yield with an ex-dividend date of April 8, and a payout ratio of 93.55%.

MSC Industrial Direct Company, Inc. (NYSE:MSM - Get Free Report)'s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $97.31 and last traded at $96.7240, with a volume of 62422 shares changing hands. The stock had previously closed at $94.17.

Wall Street Analyst Weigh In

MSM has been the topic of several recent analyst reports. Robert W. Baird set a $94.00 target price on shares of MSC Industrial Direct in a research note on Thursday, January 8th. Jefferies Financial Group restated a "hold" rating and issued a $85.00 target price on shares of MSC Industrial Direct in a research note on Thursday, January 8th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $95.00 price target on shares of MSC Industrial Direct in a research report on Friday, February 6th. iA Financial set a $95.00 price target on shares of MSC Industrial Direct in a research report on Friday, February 6th. Finally, KeyCorp reiterated a "sector weight" rating on shares of MSC Industrial Direct in a research report on Thursday, January 8th. Nine analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $90.50.

MSC Industrial Direct Trading Up 3.5%

The company's 50-day moving average is $92.17 and its 200-day moving average is $88.54. The firm has a market cap of $5.44 billion, a price-to-earnings ratio of 26.20 and a beta of 0.79. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.78 and a current ratio of 1.73.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 1st. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.02). The company had revenue of $917.77 million for the quarter, compared to analyst estimates of $931.69 million. MSC Industrial Direct had a return on equity of 16.06% and a net margin of 5.42%.The firm's quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the company earned $0.72 EPS. On average, research analysts predict that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current year.

MSC Industrial Direct Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Wednesday, April 8th will be issued a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, April 8th. MSC Industrial Direct's payout ratio is currently 93.55%.

Institutional Trading of MSC Industrial Direct

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allianz Asset Management GmbH raised its holdings in MSC Industrial Direct by 124.2% during the 3rd quarter. Allianz Asset Management GmbH now owns 195,176 shares of the industrial products company's stock worth $17,984,000 after purchasing an additional 108,116 shares during the last quarter. Squarepoint Ops LLC bought a new stake in MSC Industrial Direct during the 2nd quarter worth about $1,352,000. Arjuna Capital bought a new stake in MSC Industrial Direct during the 3rd quarter worth about $4,274,000. Convergence Investment Partners LLC bought a new stake in MSC Industrial Direct during the 3rd quarter worth about $1,190,000. Finally, Synergy Asset Management LLC raised its holdings in MSC Industrial Direct by 100.0% during the 3rd quarter. Synergy Asset Management LLC now owns 48,636 shares of the industrial products company's stock worth $4,135,000 after purchasing an additional 24,318 shares during the last quarter. 79.26% of the stock is owned by institutional investors.

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.

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