MSC Industrial Direct (NYSE:MSM) Sets New 12-Month Low – Should You Sell?

MSC Industrial Direct Co., Inc. (NYSE:MSM) reached a new 52-week low on Friday . The company traded as low as $74.90 and last traded at $74.90, with a volume of 111537 shares. The stock had previously closed at $76.26.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MSM. Robert W. Baird upped their price target on shares of MSC Industrial Direct from $84.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. lowered their target price on MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Finally, Stephens lowered MSC Industrial Direct from an “overweight” rating to an “equal weight” rating and set a $85.00 price target on the stock. in a research note on Wednesday, December 4th. Seven analysts have rated the stock with a hold rating, According to data from MarketBeat.com, MSC Industrial Direct currently has an average rating of “Hold” and a consensus price target of $85.20.

MSC Industrial Direct Trading Down 1.9 %

The company has a market cap of $4.18 billion, a P/E ratio of 16.33 and a beta of 0.89. The company has a quick ratio of 0.90, a current ratio of 1.96 and a debt-to-equity ratio of 0.20. The firm’s 50 day moving average is $82.58 and its two-hundred day moving average is $81.98.

MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings results on Thursday, October 24th. The industrial products company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.05). MSC Industrial Direct had a net margin of 6.77% and a return on equity of 19.35%. The company had revenue of $952.30 million during the quarter, compared to the consensus estimate of $959.74 million. During the same quarter last year, the firm posted $1.64 EPS. The company’s quarterly revenue was down 8.0% on a year-over-year basis. As a group, equities research analysts anticipate that MSC Industrial Direct Co., Inc. will post 3.63 EPS for the current year.

MSC Industrial Direct Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $3.40 annualized dividend and a yield of 4.55%. MSC Industrial Direct’s payout ratio is 74.24%.

Insider Activity

In other MSC Industrial Direct news, Director Philip Peller sold 900 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $89.07, for a total value of $80,163.00. Following the transaction, the director now directly owns 4,044 shares of the company’s stock, valued at approximately $360,199.08. The trade was a 18.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Erik Gershwind sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $90.36, for a total transaction of $4,518,000.00. Following the sale, the chief executive officer now directly owns 1,402,849 shares of the company’s stock, valued at approximately $126,761,435.64. This trade represents a 3.44 % decrease in their position. The disclosure for this sale can be found here. Insiders own 18.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MSM. Bank of New York Mellon Corp boosted its position in shares of MSC Industrial Direct by 12.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 765,578 shares of the industrial products company’s stock worth $60,718,000 after purchasing an additional 84,967 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in MSC Industrial Direct by 36.7% in the second quarter. Commonwealth Equity Services LLC now owns 12,739 shares of the industrial products company’s stock worth $1,010,000 after acquiring an additional 3,419 shares in the last quarter. Van ECK Associates Corp grew its stake in MSC Industrial Direct by 157.4% in the second quarter. Van ECK Associates Corp now owns 49,284 shares of the industrial products company’s stock valued at $3,909,000 after acquiring an additional 30,134 shares during the period. Aptus Capital Advisors LLC increased its holdings in shares of MSC Industrial Direct by 24.6% during the second quarter. Aptus Capital Advisors LLC now owns 30,669 shares of the industrial products company’s stock valued at $2,432,000 after acquiring an additional 6,049 shares in the last quarter. Finally, Impact Partnership Wealth LLC lifted its holdings in shares of MSC Industrial Direct by 405.6% in the 2nd quarter. Impact Partnership Wealth LLC now owns 5,071 shares of the industrial products company’s stock worth $402,000 after purchasing an additional 4,068 shares in the last quarter. 79.26% of the stock is owned by institutional investors.

MSC Industrial Direct Company Profile

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.