MSC Industrial Direct (NYSE:MSM) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of MSC Industrial Direct Company, Inc. (NYSE:MSM) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $92.62 and traded as high as $118.52. MSC Industrial Direct shares last traded at $117.0930, with a volume of 623,311 shares traded.

Analyst Ratings Changes

A number of equities analysts recently commented on MSM shares. JPMorgan Chase & Co. restated a “neutral” rating and set a $95.00 target price on shares of MSC Industrial Direct in a report on Friday, February 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of MSC Industrial Direct in a report on Monday, April 27th. KeyCorp upped their price objective on shares of MSC Industrial Direct from $117.00 to $120.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, iA Financial set a $95.00 target price on shares of MSC Industrial Direct in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, MSC Industrial Direct currently has a consensus rating of “Hold” and an average price target of $94.71.

MSC Industrial Direct Trading Down 0.1%

The company has a current ratio of 1.73, a quick ratio of 0.78 and a debt-to-equity ratio of 0.14. The company has a market cap of $6.54 billion, a PE ratio of 31.48 and a beta of 0.84. The stock has a 50 day moving average price of $100.99 and a 200 day moving average price of $92.62.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data on Wednesday, April 1st. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). The firm had revenue of $917.77 million during the quarter, compared to the consensus estimate of $931.69 million. MSC Industrial Direct had a return on equity of 16.06% and a net margin of 5.42%.MSC Industrial Direct’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.72 EPS. Sell-side analysts predict that MSC Industrial Direct Company, Inc. will post 4.33 EPS for the current fiscal year.

MSC Industrial Direct Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 22nd. Investors of record on Wednesday, April 8th were paid a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Wednesday, April 8th. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 93.55%.

Institutional Investors Weigh In On MSC Industrial Direct

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Hantz Financial Services Inc. boosted its position in shares of MSC Industrial Direct by 257.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 361 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 260 shares in the last quarter. First Horizon Corp increased its position in MSC Industrial Direct by 101.0% during the 1st quarter. First Horizon Corp now owns 400 shares of the industrial products company’s stock valued at $37,000 after buying an additional 201 shares in the last quarter. Quarry LP raised its stake in MSC Industrial Direct by 71.7% during the third quarter. Quarry LP now owns 503 shares of the industrial products company’s stock valued at $46,000 after buying an additional 210 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in MSC Industrial Direct in the fourth quarter worth $48,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of MSC Industrial Direct by 130.4% in the second quarter. EverSource Wealth Advisors LLC now owns 576 shares of the industrial products company’s stock worth $49,000 after acquiring an additional 326 shares during the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc (NYSE: MSM) is a leading distributor of metalworking and maintenance, repair and operations (MRO) products serving a broad range of industrial customers across North America. The company offers an extensive portfolio of cutting tools, abrasives, measuring and inspection instruments, fasteners, safety supplies and other essential components used in manufacturing, metalworking and production environments. MSC delivers products through a multi-channel distribution network, including an extensive branch system, e-commerce platform and dedicated sales force.

In addition to its core product offerings, MSC Industrial Direct provides value-added services designed to improve productivity and reduce downtime for its customers.