MSC Industrial Direct (NYSE:MSM) issued its quarterly earnings results on Wednesday. The industrial products company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.01), Bloomberg Earnings reports. The company had revenue of $768.60 million during the quarter, compared to analysts’ expectations of $770.95 million. MSC Industrial Direct had a return on equity of 19.42% and a net margin of 8.01%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.95 EPS. MSC Industrial Direct updated its Q2 guidance to $1.00-1.04 EPS.
MSC Industrial Direct (MSM) opened at $97.70 on Wednesday. The firm has a market capitalization of $5,520.00, a PE ratio of 24.18, a PEG ratio of 1.90 and a beta of 0.67. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.80 and a quick ratio of 0.97. MSC Industrial Direct has a one year low of $65.42 and a one year high of $105.70.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 30th. Stockholders of record on Tuesday, January 16th will be paid a $0.58 dividend. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, January 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.37%. MSC Industrial Direct’s dividend payout ratio is 47.52%.
In related news, Director Mitchell Jacobson sold 104,101 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $80.91, for a total transaction of $8,422,811.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven N. Baruch sold 5,762 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $81.25, for a total value of $468,162.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 225,541 shares of company stock valued at $18,264,812. Corporate insiders own 31.38% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its stake in MSC Industrial Direct by 5.1% during the third quarter. JPMorgan Chase & Co. now owns 3,284,345 shares of the industrial products company’s stock valued at $246,031,000 after buying an additional 159,772 shares during the last quarter. American Century Companies Inc. boosted its stake in MSC Industrial Direct by 1,889.6% during the third quarter. American Century Companies Inc. now owns 2,099,225 shares of the industrial products company’s stock valued at $158,638,000 after buying an additional 1,993,717 shares during the last quarter. State Street Corp boosted its stake in MSC Industrial Direct by 1.6% during the second quarter. State Street Corp now owns 1,222,773 shares of the industrial products company’s stock valued at $105,113,000 after buying an additional 19,302 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in MSC Industrial Direct by 105.3% during the third quarter. Bank of New York Mellon Corp now owns 1,179,178 shares of the industrial products company’s stock valued at $89,112,000 after buying an additional 604,873 shares during the last quarter. Finally, Schroder Investment Management Group boosted its stake in MSC Industrial Direct by 52.7% during the third quarter. Schroder Investment Management Group now owns 964,486 shares of the industrial products company’s stock valued at $72,250,000 after buying an additional 332,893 shares during the last quarter. 75.55% of the stock is owned by institutional investors.
ILLEGAL ACTIVITY WARNING: “MSC Industrial Direct (MSM) Announces Earnings Results” was first posted by Community Financial News and is the sole property of of Community Financial News. If you are reading this piece of content on another publication, it was copied illegally and reposted in violation of United States and international copyright & trademark laws. The legal version of this piece of content can be read at https://www.com-unik.info/2018/01/10/msc-industrial-direct-msm-announces-earnings-results.html.
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.
Receive News & Ratings for MSC Industrial Direct Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MSC Industrial Direct and related companies with MarketBeat.com's FREE daily email newsletter.