MSC Industrial Direct (NYSE:MSM) Shares Gap Up to $86.65

Shares of MSC Industrial Direct Co., Inc. (NYSE:MSM) gapped up before the market opened on Thursday . The stock had previously closed at $86.65, but opened at $89.43. MSC Industrial Direct shares last traded at $88.00, with a volume of 12,916 shares changing hands.

MSM has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on shares of MSC Industrial Direct from $90.00 to $89.00 and set a “hold” rating on the stock in a research report on Monday. Zacks Investment Research lowered shares of MSC Industrial Direct from a “hold” rating to a “sell” rating in a research report on Wednesday. William Blair raised shares of MSC Industrial Direct from a “market perform” rating to an “outperform” rating in a report on Wednesday. Finally, Wells Fargo & Company raised shares of MSC Industrial Direct from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $90.00 to $105.00 in a report on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. MSC Industrial Direct currently has an average rating of “Hold” and a consensus target price of $85.00.

The company has a debt-to-equity ratio of 0.41, a current ratio of 2.23 and a quick ratio of 1.22. The firm has a market capitalization of $4.95 billion, a PE ratio of 21.50 and a beta of 0.99. The company’s fifty day simple moving average is $88.03 and its 200-day simple moving average is $80.50.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings results on Tuesday, April 6th. The industrial products company reported $1.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.01. The firm had revenue of $774.00 million for the quarter, compared to the consensus estimate of $778.77 million. MSC Industrial Direct had a net margin of 7.14% and a return on equity of 20.42%. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period last year, the firm posted $1.00 earnings per share. Analysts forecast that MSC Industrial Direct Co., Inc. will post 4.65 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 27th. Stockholders of record on Tuesday, April 13th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend is Monday, April 12th. MSC Industrial Direct’s dividend payout ratio is currently 63.29%.

In other news, SVP Edward F. Martin, Jr. sold 871 shares of the firm’s stock in a transaction dated Thursday, January 21st. The shares were sold at an average price of $81.64, for a total value of $71,108.44. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Kari D. Heerdt sold 28,934 shares of the firm’s stock in a transaction dated Thursday, March 11th. The stock was sold at an average price of $90.00, for a total transaction of $2,604,060.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 81,339 shares of company stock worth $7,019,914. Insiders own 28.44% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. increased its position in MSC Industrial Direct by 11.7% during the first quarter. Pacer Advisors Inc. now owns 13,868 shares of the industrial products company’s stock worth $1,251,000 after purchasing an additional 1,448 shares during the last quarter. Norges Bank acquired a new stake in MSC Industrial Direct during the fourth quarter worth about $49,169,000. UBS Asset Management Americas Inc. increased its position in MSC Industrial Direct by 13.6% during the fourth quarter. UBS Asset Management Americas Inc. now owns 103,959 shares of the industrial products company’s stock worth $8,773,000 after purchasing an additional 12,434 shares during the last quarter. Principal Financial Group Inc. increased its position in MSC Industrial Direct by 6.7% during the fourth quarter. Principal Financial Group Inc. now owns 210,946 shares of the industrial products company’s stock worth $17,802,000 after purchasing an additional 13,192 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new stake in MSC Industrial Direct during the fourth quarter worth about $230,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

MSC Industrial Direct Company Profile (NYSE:MSM)

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products in the United States, Canada, Mexico, and the United Kingdom. Its 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.

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