Insider Buying: MSC Industrial Direct Co., Inc. (NYSE:MSM) Director Acquires 27,642 Shares of Stock

MSC Industrial Direct Co., Inc. (NYSE:MSM) Director Mitchell Jacobson purchased 27,642 shares of the business’s stock in a transaction on Tuesday, April 8th. The shares were acquired at an average price of $69.77 per share, with a total value of $1,928,582.34. Following the completion of the transaction, the director now owns 1,951,725 shares of the company’s stock, valued at approximately $136,171,853.25. This trade represents a 1.44 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

MSC Industrial Direct Stock Up 7.1 %

Shares of NYSE:MSM traded up $4.96 on Wednesday, hitting $75.13. 724,778 shares of the company traded hands, compared to its average volume of 626,050. MSC Industrial Direct Co., Inc. has a 52 week low of $65.92 and a 52 week high of $95.13. The stock has a 50 day simple moving average of $78.77 and a 200-day simple moving average of $81.06. The company has a market cap of $4.20 billion, a PE ratio of 17.93 and a beta of 0.89. The company has a quick ratio of 0.91, a current ratio of 1.93 and a debt-to-equity ratio of 0.21.

MSC Industrial Direct (NYSE:MSM) last issued its earnings results on Thursday, April 3rd. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.04. The firm had revenue of $891.70 million for the quarter, compared to the consensus estimate of $908.30 million. MSC Industrial Direct had a net margin of 6.21% and a return on equity of 17.80%. The business’s revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.18 earnings per share. As a group, research analysts expect that MSC Industrial Direct Co., Inc. will post 3.57 earnings per share for the current year.

MSC Industrial Direct Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be issued a dividend of $0.85 per share. The ex-dividend date is Wednesday, April 9th. This represents a $3.40 dividend on an annualized basis and a yield of 4.53%. MSC Industrial Direct’s dividend payout ratio is currently 89.71%.

Institutional Investors Weigh In On MSC Industrial Direct

A number of institutional investors have recently bought and sold shares of the business. HighTower Advisors LLC increased its stake in MSC Industrial Direct by 2.8% in the 3rd quarter. HighTower Advisors LLC now owns 46,507 shares of the industrial products company’s stock worth $4,003,000 after acquiring an additional 1,254 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in MSC Industrial Direct by 1.5% during the third quarter. Public Employees Retirement System of Ohio now owns 74,936 shares of the industrial products company’s stock valued at $6,449,000 after purchasing an additional 1,132 shares in the last quarter. Barclays PLC raised its stake in MSC Industrial Direct by 36.9% during the third quarter. Barclays PLC now owns 25,490 shares of the industrial products company’s stock valued at $2,195,000 after purchasing an additional 6,864 shares in the last quarter. M&T Bank Corp lifted its position in MSC Industrial Direct by 4.9% during the third quarter. M&T Bank Corp now owns 3,761 shares of the industrial products company’s stock valued at $324,000 after purchasing an additional 176 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN grew its stake in shares of MSC Industrial Direct by 5.8% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 641,779 shares of the industrial products company’s stock worth $55,232,000 after buying an additional 35,077 shares in the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MSM. Robert W. Baird cut their target price on MSC Industrial Direct from $90.00 to $84.00 and set a “neutral” rating on the stock in a research note on Friday, April 4th. Wolfe Research started coverage on MSC Industrial Direct in a report on Thursday, January 16th. They set an “outperform” rating and a $95.00 target price for the company. Finally, Loop Capital reduced their price target on MSC Industrial Direct from $83.00 to $74.00 and set a “hold” rating on the stock in a research note on Friday, April 4th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $82.20.

MSC Industrial Direct Company Profile

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.