MSC Industrial Direct (NYSE:MSM) Sets New 1-Year High - Here's Why

Key Points

• MSC Industrial Direct shares reached a new 52-week high of $133.95, up 1.8%, with a market capitalization of approximately $7.36 billion.
• Analyst sentiment is broadly positive, with five Buy ratings and four Holds producing a “Moderate Buy” consensus and an average price target of $127.62. Price targets range from $130 to $155.
• The company increased its quarterly dividend from $0.87 to $0.89 per share, equal to an annualized $3.56 payout and a 2.7% yield; institutional investors own 79.26% of the stock.

Shares of MSC Industrial Direct Company, Inc. (NYSE:MSM - Get Free Report) reached a new 52-week high on Wednesday. The company traded as high as $133.95 and last traded at $132.1140, with a volume of 836,549 shares. The stock had previously closed at $129.53.

Analyst Upgrades and Downgrades

MSM has been the topic of a number of recent analyst reports. Jefferies Financial Group set a $130.00 price objective on shares of MSC Industrial Direct in a research note on Wednesday, July 1st. Wolfe Research started coverage on shares of MSC Industrial Direct in a research report on Tuesday, September 15th. They issued a "peer perform" rating for the company. Zacks Research cut shares of MSC Industrial Direct from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 31st. KeyCorp boosted 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 report on Wednesday, July 1st. Finally, Rothschild & Co Redburn assumed coverage on shares of MSC Industrial Direct in a research note on Monday, July 13th. They issued a "buy" rating and a $155.00 price target for the company. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, MSC Industrial Direct currently has an average rating of "Moderate Buy" and a consensus target price of $127.62.

MSC Industrial Direct Stock Up 1.8%

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 firm has a market capitalization of $7.36 billion, a price-to-earnings ratio of 31.73 and a beta of 0.82. The stock has a fifty day moving average of $123.34 and a 200-day moving average of $116.07.

MSC Industrial Direct Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Wednesday, November 11th will be given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.7%. The ex-dividend date is Tuesday, November 10th. This is a positive change from MSC Industrial Direct's previous quarterly dividend of $0.87. MSC Industrial Direct's dividend payout ratio is presently 85.99%.

Institutional Trading of MSC Industrial Direct

A number of hedge funds have recently modified their holdings of the business. State Street Corp increased its stake in shares of MSC Industrial Direct by 3.7% in the second quarter. State Street Corp now owns 1,463,620 shares of the industrial products company's stock worth $174,098,000 after purchasing an additional 52,860 shares during the period. First Trust Advisors LP grew its holdings in shares of MSC Industrial Direct by 20.9% during the 1st quarter. First Trust Advisors LP now owns 1,773,133 shares of the industrial products company's stock worth $163,607,000 after purchasing an additional 306,436 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of MSC Industrial Direct by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,357,419 shares of the industrial products company's stock worth $125,240,000 after purchasing an additional 14,484 shares in the last quarter. Deprince Race & Zollo Inc. raised its stake in shares of MSC Industrial Direct by 43.0% in the first quarter. Deprince Race & Zollo Inc. now owns 705,775 shares of the industrial products company's stock valued at $65,122,000 after purchasing an additional 212,074 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in shares of MSC Industrial Direct in the second quarter valued at $49,939,000. Hedge funds and other institutional investors own 79.26% of the company's stock.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc is a distributor of metalworking and maintenance, repair and operations (MRO) supplies. The company serves industrial and institutional customers with products used in machining, manufacturing, facility maintenance and workplace safety.

Its offerings include cutting tools, abrasives, tooling and workholding equipment, machinery, safety products, material-handling supplies, janitorial and facility-maintenance products, and other industrial consumables. MSC also provides technical support, inventory-management programs, vending and other supply-chain services designed to help customers manage procurement and production-related needs.

Founded in 1941, MSC serves customers primarily across the United States and Canada through sales representatives, customer service teams, catalogs, distribution operations and digital commerce platforms.

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