MSC Industrial Direct (NYSE:MSM) Sets New 12-Month High - What's Next?

Key Points

• MSC Industrial Direct shares reached a new 52-week high, trading as high as $132.55 and last at $132.00, up from the prior close of $128.67.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” from five Buy and four Hold ratings. Recent price targets include $152–$155, compared with the consensus target of $127.62.
• Institutional investors own 79.26% of the company, with several hedge funds increasing their positions during the third quarter.

MSC Industrial Direct Company, Inc. (NYSE:MSM - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday. The stock traded as high as $132.55 and last traded at $132.00, with a volume of 792,358 shares changing hands. The stock had previously closed at $128.67.

Analyst Ratings Changes

Several brokerages have recently commented on MSM. Jefferies Financial Group set a $130.00 price target on MSC Industrial Direct in a report on Wednesday, July 1st. DA Davidson set a $155.00 price objective on MSC Industrial Direct in a research note on Tuesday. Rothschild & Co Redburn initiated coverage on MSC Industrial Direct in a research report on Monday, July 13th. They set a "buy" rating and a $155.00 price objective for the company. Barclays assumed coverage on MSC Industrial Direct in a research note on Tuesday. They set an "overweight" rating and a $152.00 target price on the stock. Finally, Zacks Research cut MSC Industrial Direct from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 31st. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $127.62.

MSC Industrial Direct Price Performance

The company has a market capitalization of $7.37 billion, a PE ratio of 31.88 and a beta of 0.82. 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 stock has a 50 day moving average price of $122.53 and a two-hundred day moving average price of $114.40.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. NorthCrest Asset Manangement LLC bought a new stake in MSC Industrial Direct in the third quarter worth $783,000. GAMMA Investing LLC increased its position in MSC Industrial Direct by 12.2% during the third quarter. GAMMA Investing LLC now owns 1,721 shares of the industrial products company's stock worth $213,000 after buying an additional 187 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in MSC Industrial Direct by 43.6% during the third quarter. Farther Finance Advisors LLC now owns 2,840 shares of the industrial products company's stock valued at $351,000 after buying an additional 862 shares in the last quarter. Elevation Wealth Partners LLC raised its holdings in MSC Industrial Direct by 125.3% during the third quarter. Elevation Wealth Partners LLC now owns 552 shares of the industrial products company's stock valued at $68,000 after buying an additional 307 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of MSC Industrial Direct by 28.5% in the third quarter. Versant Capital Management Inc now owns 2,888 shares of the industrial products company's stock worth $357,000 after buying an additional 641 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company's stock.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc is a distributor of metalworking and industrial products serving manufacturers and other organizations across North America. The company provides products used in maintenance, repair and operations, including cutting tools, abrasives, tooling components, fasteners, safety equipment, material handling supplies, and janitorial and facility-maintenance products.

MSC serves customers through an omnichannel platform that includes e-commerce, sales representatives, customer service teams, catalogs, and branch locations.

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