MSC Industrial Direct Company, Inc. (NYSE:MSM - Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as $91.22 and last traded at $91.17, with a volume of 113813 shares traded. The stock had previously closed at $89.38.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on MSM shares. Loop Capital upped their target price on MSC Industrial Direct from $74.00 to $84.00 and gave the stock a "hold" rating in a research report on Wednesday, July 2nd. Wolfe Research raised MSC Industrial Direct to a "strong-buy" rating in a research report on Sunday, April 6th. Industrial Alliance Securities set a $89.00 target price on MSC Industrial Direct in a research report on Tuesday, May 27th. Stephens upped their target price on MSC Industrial Direct from $85.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 2nd. Finally, Robert W. Baird upped their target price on MSC Industrial Direct from $84.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $90.33.
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MSC Industrial Direct Stock Performance
The company has a quick ratio of 0.91, a current ratio of 1.92 and a debt-to-equity ratio of 0.21. The company has a 50 day moving average of $81.59 and a 200 day moving average of $79.68. The firm has a market cap of $5.06 billion, a price-to-earnings ratio of 25.64 and a beta of 0.87.
MSC Industrial Direct (NYSE:MSM - Get Free Report) last released its quarterly earnings results on Tuesday, July 1st. The industrial products company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.03 by $0.05. MSC Industrial Direct had a return on equity of 14.99% and a net margin of 5.30%. The business had revenue of $971.15 million for the quarter, compared to analysts' expectations of $969.72 million. During the same quarter in the previous year, the firm posted $1.33 earnings per share. The company's revenue was down .8% compared to the same quarter last year. As a group, equities research analysts expect that MSC Industrial Direct Company, Inc. will post 3.57 EPS for the current fiscal year.
MSC Industrial Direct Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Wednesday, July 9th. MSC Industrial Direct's payout ratio is currently 96.05%.
Institutional Trading of MSC Industrial Direct
Several institutional investors and hedge funds have recently bought and sold shares of the company. American Century Companies Inc. raised its stake in MSC Industrial Direct by 6.8% during the first quarter. American Century Companies Inc. now owns 3,650,221 shares of the industrial products company's stock valued at $283,513,000 after buying an additional 231,961 shares in the last quarter. First Trust Advisors LP raised its stake in MSC Industrial Direct by 29.2% during the fourth 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. raised its stake in MSC Industrial Direct by 5.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,781,503 shares of the industrial products company's stock valued at $138,369,000 after buying an additional 88,247 shares in the last quarter. Boston Partners raised its stake in MSC Industrial Direct by 22.9% during the first quarter. Boston Partners now owns 1,762,248 shares of the industrial products company's stock valued at $136,867,000 after buying an additional 327,833 shares in the last quarter. Finally, Invesco Ltd. raised its stake in MSC Industrial Direct by 2.8% during the first quarter. Invesco Ltd. now owns 1,240,418 shares of the industrial products company's stock valued at $96,343,000 after buying an additional 33,607 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company's stock.
MSC Industrial Direct Company Profile
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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.
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