MSC Industrial Direct (NYSE:MSM) Reaches New 1-Year High - Here's What Happened

Key Points

• MSC Industrial Direct hit a new 52-week high, trading as high as $98.28 and last around $97.90 (up about 1.7%), but analysts' consensus remains a Hold with an average price target of $90.50.
• The company slightly missed quarterly expectations, reporting $0.82 EPS versus $0.84 expected and revenue of $917.8M versus $931.7M, though revenue was up 2.9% year-over-year.
• MSC paid a quarterly dividend of $0.87 (annualized $3.48), implying a ~3.5% yield, with a high payout ratio of about 93.6%.

MSC Industrial Direct Company, Inc. (NYSE:MSM - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $98.28 and last traded at $97.9020, with a volume of 25699 shares trading hands. The stock had previously closed at $96.67.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of MSC Industrial Direct in a report on Wednesday, January 28th. Robert W. Baird set a $94.00 price target on shares of MSC Industrial Direct in a report on Thursday, January 8th. iA Financial set a $95.00 price target on shares of MSC Industrial Direct in a report on Friday, February 6th. Jefferies Financial Group reaffirmed a "hold" rating and set a $85.00 price target on shares of MSC Industrial Direct in a report on Thursday, January 8th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $95.00 price objective on shares of MSC Industrial Direct in a research note on Friday, February 6th. Nine analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $90.50.

MSC Industrial Direct Stock Up 1.7%

The company's 50 day moving average price is $92.35 and its two-hundred day moving average price is $88.67. The company has a current ratio of 1.73, a quick ratio of 0.78 and a debt-to-equity ratio of 0.14. The stock has a market cap of $5.49 billion, a P/E ratio of 26.39 and a beta of 0.79.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 1st. The industrial products company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.02). MSC Industrial Direct had a return on equity of 16.06% and a net margin of 5.42%.The business had revenue of $917.77 million during the quarter, compared to the consensus estimate of $931.69 million. During the same quarter last year, the company earned $0.72 EPS. MSC Industrial Direct's revenue for the quarter was up 2.9% on a year-over-year basis. Equities analysts forecast that MSC Industrial Direct Company, Inc. will post 4.33 earnings per share for the current year.

MSC Industrial Direct Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 8th were paid a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Wednesday, April 8th. MSC Industrial Direct's dividend payout ratio is 93.55%.

Institutional Investors Weigh In On MSC Industrial Direct

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP raised its stake in MSC Industrial Direct by 25.9% during the 4th quarter. Allworth Financial LP now owns 628 shares of the industrial products company's stock worth $53,000 after acquiring an additional 129 shares during the period. Boothbay Fund Management LLC raised its stake in MSC Industrial Direct by 6.0% during the 4th quarter. Boothbay Fund Management LLC now owns 2,389 shares of the industrial products company's stock worth $201,000 after acquiring an additional 136 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in MSC Industrial Direct by 0.4% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 34,884 shares of the industrial products company's stock worth $3,169,000 after acquiring an additional 136 shares during the period. GAMMA Investing LLC raised its stake in MSC Industrial Direct by 22.1% during the 4th quarter. GAMMA Investing LLC now owns 778 shares of the industrial products company's stock worth $65,000 after acquiring an additional 141 shares during the period. Finally, HighTower Advisors LLC raised its stake in MSC Industrial Direct by 0.3% during the 4th quarter. HighTower Advisors LLC now owns 50,418 shares of the industrial products company's stock worth $4,240,000 after acquiring an additional 147 shares during the period. Institutional investors 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.

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