MSC Industrial Direct Co Inc (NYSE:MSM) SVP Christopher Davanzo sold 12,046 shares of MSC Industrial Direct stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $93.43, for a total value of $1,125,457.78. Following the sale, the senior vice president now directly owns 12,432 shares in the company, valued at approximately $1,161,521.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of MSC Industrial Direct Co Inc (NYSE MSM) opened at $94.75 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. MSC Industrial Direct Co Inc has a 12 month low of $65.42 and a 12 month high of $105.70. The stock has a market capitalization of $5,365.60, a P/E ratio of 22.89, a price-to-earnings-growth ratio of 1.82 and a beta of 0.67.
MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings data on Wednesday, January 10th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.06 by ($0.01). The firm had revenue of $768.60 million during the quarter, compared to the consensus estimate of $770.95 million. MSC Industrial Direct had a return on equity of 19.37% and a net margin of 7.97%. The business’s revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.95 EPS. sell-side analysts expect that MSC Industrial Direct Co Inc will post 4.54 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Stockholders of record on Tuesday, January 16th will be issued a $0.58 dividend. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, January 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.45%. MSC Industrial Direct’s payout ratio is 46.38%.
MSC Industrial Direct declared that its Board of Directors has approved a share buyback program on Wednesday, January 10th that authorizes the company to repurchase 2,000,000 shares. This repurchase authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
Several brokerages recently issued reports on MSM. Stifel Nicolaus reissued a “hold” rating and set a $100.00 target price (up previously from $98.00) on shares of MSC Industrial Direct in a research note on Friday. Stephens set a $114.00 price objective on MSC Industrial Direct and gave the stock a “buy” rating in a research note on Wednesday. Zacks Investment Research raised MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a research note on Wednesday. Credit Suisse Group reaffirmed an “outperform” rating and issued a $112.00 price objective (up previously from $100.00) on shares of MSC Industrial Direct in a research note on Tuesday, January 9th. Finally, Susquehanna Bancshares reaffirmed a “hold” rating and issued a $92.00 price objective on shares of MSC Industrial Direct in a research note on Wednesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $95.54.
Institutional investors have recently made changes to their positions in the company. Westpac Banking Corp boosted its holdings in shares of MSC Industrial Direct by 14.8% in the 3rd quarter. Westpac Banking Corp now owns 79,800 shares of the industrial products company’s stock worth $6,030,000 after purchasing an additional 10,300 shares during the period. Alpha Windward LLC purchased a new position in shares of MSC Industrial Direct in the 3rd quarter worth approximately $521,000. Janus Henderson Group PLC purchased a new position in shares of MSC Industrial Direct in the 2nd quarter worth approximately $12,989,000. CIBC World Markets Inc. purchased a new position in shares of MSC Industrial Direct in the 2nd quarter worth approximately $1,199,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of MSC Industrial Direct by 10.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 467,125 shares of the industrial products company’s stock worth $40,153,000 after purchasing an additional 45,196 shares during the period. Hedge funds and other institutional investors own 75.55% of the company’s stock.
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MSC Industrial Direct Company Profile
MSC Industrial Direct Co, Inc is a North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. The Company’s range of MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, 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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