Between ongoing worries about a short-cycle slowdown and management’s ability to execute on the latest self-improvement plan, I wasn’t bullish on MSC Industrial (MSM) shares back in July of 2021. Since then, the shares have lost about 10% of their value (partly offset by a good dividend), underperforming the S&P 500, the broader industrial sector, and other comps/peers like Fastenal (FAST), Kennametal (KMT), and Sandvik (OTCPK:SDVKY).
I do believe the valuation is getting more interesting, and the company does seem to be executing on its operational turnaround. Although I still have cycle-related sentiment concerns here (as well as ongoing concerns about management), I do think the opportunity is more appealing here now than it has been in some time.
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MSC Industrial Leveraged To Robust Industrial Activity And Self-Improvement
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