MSC Industrial Direct (NYSE:MSM) Releases Quarterly Earnings Results

MSC Industrial Direct (NYSE:MSM) issued its quarterly earnings results on Thursday. The industrial products company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.02, Briefing.com reports. The firm had revenue of $935.30 million for the quarter, compared to the consensus estimate of $946.55 million. MSC Industrial Direct had a return on equity of 23.46% and a net margin of 8.27%. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.45 earnings per share.

MSC Industrial Direct Stock Down 2.5 %

MSC Industrial Direct stock opened at $97.04 on Friday. MSC Industrial Direct has a 52 week low of $82.09 and a 52 week high of $105.77. The company has a quick ratio of 0.89, a current ratio of 2.02 and a debt-to-equity ratio of 0.21. The firm has a market cap of $5.47 billion, a price-to-earnings ratio of 16.50 and a beta of 0.96. The business’s 50-day moving average price is $98.62 and its 200 day moving average price is $98.30.

MSC Industrial Direct Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 23rd. Shareholders of record on Tuesday, April 9th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.42%. The ex-dividend date is Monday, April 8th. MSC Industrial Direct’s dividend payout ratio is presently 56.46%.

Insider Buying and Selling at MSC Industrial Direct

In other news, Director Mitchell Jacobson sold 51,040 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $97.31, for a total value of $4,966,702.40. Following the completion of the sale, the director now directly owns 1,907,271 shares in the company, valued at $185,596,541.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Mitchell Jacobson sold 51,040 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $97.31, for a total value of $4,966,702.40. Following the completion of the transaction, the director now owns 1,907,271 shares of the company’s stock, valued at $185,596,541.01. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Erik Gershwind sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $96.00, for a total transaction of $720,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,432,038 shares in the company, valued at approximately $137,475,648. The disclosure for this sale can be found here. Insiders have sold a total of 254,503 shares of company stock valued at $24,841,663 over the last ninety days. Corporate insiders own 18.80% of the company’s stock.

Institutional Investors Weigh In On MSC Industrial Direct

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Altshuler Shaham Ltd raised its stake in MSC Industrial Direct by 154.8% during the 4th quarter. Altshuler Shaham Ltd now owns 800 shares of the industrial products company’s stock valued at $65,000 after acquiring an additional 486 shares during the last quarter. KBC Group NV acquired a new stake in shares of MSC Industrial Direct during the fourth quarter worth $93,000. Point72 Europe London LLP purchased a new position in MSC Industrial Direct in the 4th quarter valued at $121,000. Point72 Hong Kong Ltd increased its stake in MSC Industrial Direct by 224.5% in the 1st quarter. Point72 Hong Kong Ltd now owns 1,441 shares of the industrial products company’s stock valued at $123,000 after buying an additional 997 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in MSC Industrial Direct by 115.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,514 shares of the industrial products company’s stock worth $128,000 after buying an additional 812 shares during the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, KeyCorp decreased their price objective on shares of MSC Industrial Direct from $105.00 to $102.00 and set an “overweight” rating for the company in a report on Wednesday, January 10th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, MSC Industrial Direct has a consensus rating of “Moderate Buy” and an average target price of $105.00.

About MSC Industrial Direct

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