MSC Industrial Direct (NYSE:MSM) Sets New 1-Year High - What's Next?

Key Points

• MSC Industrial Direct reached a new 52-week high of $130, while analysts maintained a generally positive outlook. The consensus rating is “Moderate Buy,” with an average price target of $123.43, below the recent trading price.
• The company exceeded quarterly expectations, reporting EPS of $1.43 versus the $1.28 consensus and revenue of $1.05 billion, up 7.8% year over year.
• MSC Industrial Direct announced a quarterly dividend of $0.87 per share, equivalent to an annualized $3.48 dividend and a 2.7% yield. Institutional investors own approximately 79.26% of the company’s outstanding shares.

MSC Industrial Direct Company, Inc. (NYSE:MSM - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $130.00 and last traded at $129.7450, with a volume of 5622 shares trading hands. The stock had previously closed at $126.74.

Analysts Set New Price Targets

MSM has been the subject of a number of recent research reports. Rothschild & Co Redburn assumed coverage on MSC Industrial Direct in a research report on Monday, July 13th. They set a "buy" rating and a $155.00 target price for the company. KeyCorp raised their price target on MSC Industrial Direct from $132.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, July 1st. DA Davidson lifted their price objective on MSC Industrial Direct from $145.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday, July 2nd. Jefferies Financial Group set a $130.00 price objective on MSC Industrial Direct in a report on Wednesday, July 1st. Finally, Zacks Research raised shares of MSC Industrial Direct from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $123.43.

MSC Industrial Direct Stock Up 1.5%

The firm's 50-day simple moving average is $119.67 and its 200 day simple moving average is $103.31. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.72 and a current ratio of 1.55. The company has a market cap of $7.18 billion, a P/E ratio of 31.07 and a beta of 0.83.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 1st. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.15. MSC Industrial Direct had a return on equity of 17.34% and a net margin of 5.91%.The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company earned $1.08 EPS. The firm's revenue was up 7.8% on a year-over-year basis. On average, research analysts forecast that MSC Industrial Direct Company, Inc. will post 4.49 earnings per share for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th were issued a dividend of $0.87 per share. The ex-dividend date was Wednesday, July 8th. This represents a $3.48 dividend on an annualized basis and a yield of 2.7%. MSC Industrial Direct's dividend payout ratio (DPR) is 84.06%.

Institutional Trading of MSC Industrial Direct

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada boosted its stake in MSC Industrial Direct by 4.8% during the 1st quarter. Royal Bank of Canada now owns 46,990 shares of the industrial products company's stock worth $3,650,000 after acquiring an additional 2,164 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in MSC Industrial Direct in the first quarter valued at approximately $455,000. NewEdge Advisors LLC raised its holdings in MSC Industrial Direct by 79.9% in the first quarter. NewEdge Advisors LLC now owns 750 shares of the industrial products company's stock worth $58,000 after purchasing an additional 333 shares during the period. United Services Automobile Association acquired a new stake in MSC Industrial Direct in the first quarter worth $229,000. Finally, Empowered Funds LLC bought a new position in shares of MSC Industrial Direct during the first quarter worth $816,000. 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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