MSC Industrial Direct (NYSE:MSM) Hits New 12-Month Low at $73.43

MSC Industrial Direct Co., Inc. (NYSE:MSMGet Rating)’s stock price reached a new 52-week low on Friday . The stock traded as low as $73.43 and last traded at $73.48, with a volume of 4431 shares traded. The stock had previously closed at $74.91.

MSM has been the topic of several recent research reports. Loop Capital upped their price objective on shares of MSC Industrial Direct from $88.00 to $93.00 in a report on Thursday, March 31st. KeyCorp upped their price objective on shares of MSC Industrial Direct from $91.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, March 31st. Robert W. Baird upped their price objective on shares of MSC Industrial Direct from $103.00 to $105.00 in a report on Thursday, March 31st. Finally, StockNews.com raised shares of MSC Industrial Direct from a “hold” rating to a “buy” rating in a report on Tuesday, May 17th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $102.20.

The company has a debt-to-equity ratio of 0.47, a current ratio of 2.37 and a quick ratio of 1.27. The stock’s fifty day moving average is $83.33 and its 200-day moving average is $82.27. The stock has a market capitalization of $4.09 billion, a PE ratio of 14.16 and a beta of 1.00.

MSC Industrial Direct (NYSE:MSMGet Rating) last posted its quarterly earnings data on Wednesday, March 30th. The industrial products company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.04. The company had revenue of $862.50 million during the quarter, compared to analysts’ expectations of $856.03 million. MSC Industrial Direct had a net margin of 8.70% and a return on equity of 24.70%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.03 earnings per share. On average, analysts forecast that MSC Industrial Direct Co., Inc. will post 6.08 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 26th. Stockholders of record on Tuesday, April 12th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend was Monday, April 11th. MSC Industrial Direct’s dividend payout ratio (DPR) is 56.71%.

In other MSC Industrial Direct news, EVP Douglas E. Jones sold 31,635 shares of the stock in a transaction dated Thursday, March 31st. The shares were sold at an average price of $86.00, for a total transaction of $2,720,610.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Steven N. Baruch sold 8,250 shares of the firm’s stock in a transaction that occurred on Tuesday, April 19th. The shares were sold at an average price of $85.73, for a total transaction of $707,272.50. Following the completion of the transaction, the executive vice president now directly owns 12,569 shares of the company’s stock, valued at approximately $1,077,540.37. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,325 shares of company stock valued at $3,629,109. 28.28% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the stock. Ellevest Inc. raised its holdings in MSC Industrial Direct by 588.2% during the first quarter. Ellevest Inc. now owns 351 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 300 shares in the last quarter. Huntington National Bank boosted its position in shares of MSC Industrial Direct by 401.3% in the 4th quarter. Huntington National Bank now owns 376 shares of the industrial products company’s stock worth $31,000 after buying an additional 301 shares in the last quarter. Moors & Cabot Inc. purchased a new stake in shares of MSC Industrial Direct in the 3rd quarter worth about $41,000. Pinebridge Investments L.P. purchased a new stake in shares of MSC Industrial Direct in the 4th quarter worth about $42,000. Finally, MFA Wealth Advisors LLC acquired a new position in MSC Industrial Direct in the 3rd quarter valued at about $59,000. 76.92% of the stock is currently owned by hedge funds and other institutional investors.

MSC Industrial Direct Company Profile (NYSE:MSM)

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, and the United Kingdom. Its 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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