MSC Industrial Direct (MSM) Announces Earnings Results

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%.

A number of analysts have commented on the company. Susquehanna Bancshares restated a “hold” rating and issued a $92.00 price target on shares of MSC Industrial Direct in a research report on Wednesday, January 3rd. Zacks Investment Research cut MSC Industrial Direct from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. UBS Group lowered MSC Industrial Direct from a “strong-buy” rating to an “outperform” rating in a research note on Thursday, January 4th. Raymond James Financial reaffirmed an “outperform” rating and issued a $105.00 price objective (up previously from $95.00) on shares of MSC Industrial Direct in a research note on Thursday, January 4th. They noted that the move was a valuation call. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $112.00 price objective (up previously from $100.00) on shares of MSC Industrial Direct in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $93.42.

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.

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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.

Earnings History for MSC Industrial Direct (NYSE:MSM)

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