MSC Industrial Direct (NYSE:MSM) Reaches New 12-Month Low – Here’s What Happened

by · The Markets Daily

Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM – Get Free Report) hit a new 52-week low on Thursday . The company traded as low as $72.73 and last traded at $75.59, with a volume of 559843 shares trading hands. The stock had previously closed at $79.28.

Wall Street Analyst Weigh In

A number of brokerages have commented on MSM. Stephens downgraded shares of MSC Industrial Direct from an “overweight” rating to an “equal weight” rating and set a $85.00 target price for the company. in a report on Wednesday, December 4th. Wolfe Research assumed coverage on shares of MSC Industrial Direct in a research report on Thursday, January 16th. They issued an “outperform” rating and a $95.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $83.80.

View Our Latest Research Report on MSC Industrial Direct

MSC Industrial Direct Stock Performance

The company has a market capitalization of $4.20 billion, a PE ratio of 17.95 and a beta of 0.89. The company has a quick ratio of 0.91, a current ratio of 1.93 and a debt-to-equity ratio of 0.21. The business has a 50 day simple moving average of $79.88 and a 200 day simple moving average of $81.46.

MSC Industrial Direct (NYSE:MSM – Get Free Report) last released its earnings results on Thursday, April 3rd. The industrial products company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. MSC Industrial Direct had a net margin of 6.21% and a return on equity of 17.80%. The company had revenue of $891.70 million during the quarter, compared to analysts’ expectations of $908.30 million. During the same period last year, the business earned $1.18 EPS. MSC Industrial Direct’s revenue for the quarter was down 4.7% on a year-over-year basis. Equities research analysts predict that MSC Industrial Direct Co., Inc. will post 3.57 EPS for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date is Wednesday, April 9th. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 81.15%.

Hedge Funds Weigh In On MSC Industrial Direct

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new stake in MSC Industrial Direct during the 4th quarter valued at about $25,000. Allworth Financial LP lifted its holdings in shares of MSC Industrial Direct by 412.0% during the fourth quarter. Allworth Financial LP now owns 425 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 342 shares during the period. UMB Bank n.a. boosted its position in MSC Industrial Direct by 54.0% in the fourth quarter. UMB Bank n.a. now owns 476 shares of the industrial products company’s stock valued at $36,000 after buying an additional 167 shares during the last quarter. Synergy Asset Management LLC acquired a new position in MSC Industrial Direct in the 4th quarter worth approximately $36,000. Finally, V Square Quantitative Management LLC raised its position in MSC Industrial Direct by 77.0% during the 4th quarter. V Square Quantitative Management LLC now owns 531 shares of the industrial products company’s stock worth $40,000 after buying an additional 231 shares during the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

MSC Industrial Direct Company Profile

(Get Free Report)

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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