Insider Selling: MSC Industrial Direct Co Inc (MSM) SVP Sells 12,046 Shares of Stock

MSC Industrial Direct Co Inc (NYSE:MSM) SVP Christopher Davanzo sold 12,046 shares of MSC Industrial Direct stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $93.43, for a total transaction of $1,125,457.78. Following the completion of the transaction, the senior vice president now directly owns 12,432 shares of the company’s stock, valued at approximately $1,161,521.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Christopher Davanzo also recently made the following trade(s):

  • On Tuesday, January 23rd, Christopher Davanzo sold 11,108 shares of MSC Industrial Direct stock. The stock was sold at an average price of $95.00, for a total transaction of $1,055,260.00.

MSC Industrial Direct Co Inc (NYSE:MSM) traded down $1.77 on Monday, reaching $89.60. 914,793 shares of the company’s stock were exchanged, compared to its average volume of 967,758. MSC Industrial Direct Co Inc has a 52-week low of $65.42 and a 52-week high of $105.70. The company has a quick ratio of 1.04, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The company has a market cap of $5,158.38, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 1.34 and a beta of 0.59.

MSC Industrial Direct (NYSE:MSM) last posted its earnings results on Wednesday, January 10th. The industrial products company reported $1.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.06 by ($0.01). The business had revenue of $768.60 million for 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 company’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 earnings per share. research analysts expect that MSC Industrial Direct Co Inc will post 5 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 30th. Stockholders of record on Tuesday, January 16th were given a $0.58 dividend. The ex-dividend date of this dividend was Friday, January 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.59%. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.48. MSC Industrial Direct’s payout ratio is 56.04%.

MSC Industrial Direct declared that its Board of Directors has initiated a share buyback program on Wednesday, January 10th that permits the company to repurchase 2,000,000 outstanding shares. This repurchase authorization permits the industrial products company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Several hedge funds and other institutional investors have recently modified their holdings of the company. QS Investors LLC lifted its position in shares of MSC Industrial Direct by 0.5% in the 2nd quarter. QS Investors LLC now owns 1,749 shares of the industrial products company’s stock worth $150,000 after purchasing an additional 8 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of MSC Industrial Direct by 0.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,577 shares of the industrial products company’s stock valued at $136,000 after acquiring an additional 8 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of MSC Industrial Direct by 0.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,580 shares of the industrial products company’s stock valued at $566,000 after acquiring an additional 29 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of MSC Industrial Direct by 8.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,539 shares of the industrial products company’s stock valued at $132,000 after acquiring an additional 123 shares during the period. Finally, Formidable Asset Management LLC lifted its position in shares of MSC Industrial Direct by 2.2% during the 2nd quarter. Formidable Asset Management LLC now owns 11,277 shares of the industrial products company’s stock valued at $969,000 after acquiring an additional 239 shares during the period. Hedge funds and other institutional investors own 75.25% of the company’s stock.

MSM has been the subject of a number of research reports. BMO Capital Markets restated a “market perform” rating and set a $83.00 target price (up previously from $79.00) on shares of MSC Industrial Direct in a research note on Monday, October 9th. Zacks Investment Research upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Wednesday, October 11th. Gabelli upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a research note on Friday, October 13th. KeyCorp reiterated a “hold” rating on shares of MSC Industrial Direct in a research note on Tuesday, October 17th. Finally, Wells Fargo & Co set a $86.00 target price on shares of MSC Industrial Direct and gave the company a “hold” rating in a research report on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $95.92.

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About MSC Industrial Direct

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.

Insider Buying and Selling by Quarter for MSC Industrial Direct (NYSE:MSM)

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