Stock Traders Purchase High Volume of Call Options on MSC Industrial Direct (NYSE:MSM)

MSC Industrial Direct Co Inc (NYSE:MSM) saw unusually large options trading on Tuesday. Stock traders bought 6,581 call options on the stock. This represents an increase of 5,776% compared to the average volume of 112 call options.

In other news, VP Charles Bonomo sold 1,800 shares of MSC Industrial Direct stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $92.19, for a total value of $165,942.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Mitchell Jacobson sold 26,306 shares of MSC Industrial Direct stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $79.40, for a total value of $2,088,696.40. The disclosure for this sale can be found here. Insiders have sold a total of 975,112 shares of company stock worth $89,557,641 over the last 90 days. 31.28% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of MSM. Legal & General Group Plc lifted its holdings in shares of MSC Industrial Direct by 15.5% in the 2nd quarter. Legal & General Group Plc now owns 50,776 shares of the industrial products company’s stock valued at $4,364,000 after buying an additional 6,826 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of MSC Industrial Direct by 8.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,539 shares of the industrial products company’s stock valued at $132,000 after buying an additional 123 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of MSC Industrial Direct by 4.6% in the 2nd quarter. Principal Financial Group Inc. now owns 194,662 shares of the industrial products company’s stock valued at $16,734,000 after buying an additional 8,552 shares during the period. Swiss National Bank lifted its holdings in shares of MSC Industrial Direct by 1.5% in the 2nd quarter. Swiss National Bank now owns 74,700 shares of the industrial products company’s stock valued at $6,421,000 after buying an additional 1,100 shares during the period. Finally, Cipher Capital LP acquired a new position in shares of MSC Industrial Direct in the 2nd quarter valued at about $216,000. 75.35% of the stock is owned by institutional investors and hedge funds.

Shares of MSC Industrial Direct (MSM) traded down $2.13 on Friday, reaching $91.37. The company’s stock had a trading volume of 676,676 shares, compared to its average volume of 795,108. MSC Industrial Direct has a 12 month low of $65.42 and a 12 month high of $105.70. The company has a current ratio of 1.92, a quick ratio of 1.04 and a debt-to-equity ratio of 0.16. The firm has a market cap of $5,160.00, a PE ratio of 22.02, a P/E/G ratio of 1.38 and a beta of 0.59.

MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings results on Wednesday, January 10th. The industrial products company reported $1.05 EPS for the quarter, missing the Zacks’ consensus estimate of $1.06 by ($0.01). The firm had revenue of $768.60 million for the quarter, compared to analyst estimates 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 prior year, the firm posted $0.95 EPS. equities research analysts predict that MSC Industrial Direct will post 5 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 30th. Stockholders of record on Tuesday, January 16th were issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Friday, January 12th. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.48. MSC Industrial Direct’s payout ratio is 55.90%.

MSC Industrial Direct declared that its Board of Directors has initiated a stock buyback plan on Wednesday, January 10th that authorizes the company to repurchase 2,000,000 shares. This repurchase authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

MSM has been the topic of a number of analyst reports. Susquehanna Bancshares reiterated a “hold” rating and issued a $92.00 price target on shares of MSC Industrial Direct in a report on Wednesday, January 3rd. Raymond James Financial restated an “outperform” rating and set a $105.00 target price (up from $95.00) on shares of MSC Industrial Direct in a research note on Thursday, January 4th. They noted that the move was a valuation call. Stifel Nicolaus restated a “hold” rating and set a $84.00 target price on shares of MSC Industrial Direct in a research note on Friday, November 3rd. Zacks Investment Research downgraded MSC Industrial Direct from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Finally, Credit Suisse Group restated an “outperform” rating and set a $112.00 target price (up from $100.00) on shares of MSC Industrial Direct in a research note on Tuesday, January 9th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $95.92.

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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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