MSC Industrial Direct Co Inc (NYSE:MSM) – Equities research analysts at KeyCorp upped their Q2 2018 earnings per share estimates for MSC Industrial Direct in a report issued on Wednesday. KeyCorp analyst S. Barger now anticipates that the industrial products company will post earnings of $1.29 per share for the quarter, up from their prior estimate of $1.03. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for MSC Industrial Direct’s Q3 2018 earnings at $1.31 EPS, FY2018 earnings at $4.93 EPS and FY2019 earnings at $5.66 EPS.
Several other analysts also recently issued reports on the company. Credit Suisse Group set a $93.00 price target on MSC Industrial Direct and gave the stock a “buy” rating in a report on Friday, October 6th. Gabelli raised MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a research note on Friday, October 13th. Zacks Investment Research raised MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a research note on Wednesday, October 11th. Stifel Nicolaus reaffirmed a “hold” rating and set a $93.00 target price on shares of MSC Industrial Direct in a research note on Monday, December 11th. Finally, Northcoast Research raised MSC Industrial Direct from a “neutral” rating to a “buy” rating in a research note on Friday, December 15th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $95.54.
MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings results on Wednesday, January 10th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.01). The company had revenue of $768.60 million during the quarter, compared to the consensus estimate of $770.95 million. MSC Industrial Direct had a return on equity of 19.37% and a net margin of 7.97%. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period last year, the business posted $0.95 EPS.
MSC Industrial Direct announced that its board has approved a share buyback program on Wednesday, January 10th that permits the company to repurchase 2,000,000 outstanding shares. This repurchase authorization permits the industrial products company to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Shareholders of record on Tuesday, January 16th will be paid a dividend of $0.58 per share. The ex-dividend date is Friday, January 12th. This represents a $2.32 annualized dividend and a yield of 2.48%. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.48. MSC Industrial Direct’s payout ratio is presently 46.27%.
In other news, EVP Steven N. Baruch sold 5,762 shares of the business’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $81.25, for a total value of $468,162.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Mitchell Jacobson sold 33,866 shares of the business’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $82.39, for a total value of $2,790,219.74. Following the completion of the sale, the director now directly owns 35,932 shares in the company, valued at approximately $2,960,437.48. The disclosure for this sale can be found here. Insiders have sold a total of 301,627 shares of company stock worth $25,525,942 in the last ninety days. 31.38% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of MSC Industrial Direct by 8.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,539 shares of the industrial products company’s stock worth $132,000 after buying an additional 123 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of MSC Industrial Direct by 0.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,577 shares of the industrial products company’s stock worth $136,000 after buying an additional 8 shares in the last quarter. Cutler Group LP raised its stake in shares of MSC Industrial Direct by 457.8% in the 4th quarter. Cutler Group LP now owns 1,431 shares of the industrial products company’s stock worth $138,000 after buying an additional 1,831 shares in the last quarter. QS Investors LLC raised its stake in shares of MSC Industrial Direct by 0.5% in the 2nd quarter. QS Investors LLC now owns 1,749 shares of the industrial products company’s stock worth $150,000 after buying an additional 8 shares in the last quarter. Finally, Zions Bancorporation bought a new stake in shares of MSC Industrial Direct in the 3rd quarter worth $150,000. 75.53% of the stock is currently owned by institutional investors.
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About MSC Industrial Direct
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.
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