MSC Industrial Direct Co Inc (MSM) SVP Steve Armstrong Sells 19,162 Shares

MSC Industrial Direct Co Inc (NYSE:MSM) SVP Steve Armstrong sold 19,162 shares of MSC Industrial Direct stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $94.98, for a total transaction of $1,820,006.76. Following the transaction, the senior vice president now directly owns 13,432 shares in the company, valued at approximately $1,275,771.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

MSC Industrial Direct Co Inc (NYSE:MSM) opened at $94.49 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. MSC Industrial Direct Co Inc has a one year low of $65.42 and a one year high of $105.70. The firm has a market cap of $5,250.00, a P/E ratio of 22.77, a price-to-earnings-growth ratio of 1.34 and a beta of 0.67.

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 for the quarter, missing the Zacks’ consensus estimate of $1.06 by ($0.01). MSC Industrial Direct had a net margin of 7.97% and a return on equity of 19.37%. The company had revenue of $768.60 million during the quarter, compared to the consensus estimate of $770.95 million. During the same period in the previous year, the firm posted $0.95 EPS. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. equities research analysts expect that MSC Industrial Direct Co Inc will post 5 EPS for the current year.

MSC Industrial Direct declared that its Board of Directors has authorized a share buyback plan on Wednesday, January 10th that authorizes the company to repurchase 2,000,000 outstanding shares. This repurchase authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 30th. Shareholders of record on Tuesday, January 16th will be paid a $0.58 dividend. The ex-dividend date is Friday, January 12th. This represents a $2.32 dividend on an annualized basis and a yield of 2.46%. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.48. MSC Industrial Direct’s payout ratio is presently 55.90%.

A number of institutional investors and hedge funds have recently made changes to their positions in MSM. American Century Companies Inc. lifted its stake in MSC Industrial Direct by 1,889.6% in 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 in the last quarter. Bank of New York Mellon Corp lifted its stake in MSC Industrial Direct by 105.3% in 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 in the last quarter. Schroder Investment Management Group lifted its stake in MSC Industrial Direct by 52.7% in 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 in the last quarter. Koch Industries Inc. lifted its stake in MSC Industrial Direct by 10,738.5% in the second quarter. Koch Industries Inc. now owns 284,620 shares of the industrial products company’s stock valued at $281,000 after buying an additional 281,994 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in MSC Industrial Direct by 126.7% in the third quarter. Principal Financial Group Inc. now owns 441,321 shares of the industrial products company’s stock valued at $33,350,000 after buying an additional 246,659 shares in the last quarter. 75.53% of the stock is currently owned by hedge funds and other institutional investors.

MSM has been the topic of several recent analyst reports. TheStreet raised shares of MSC Industrial Direct from a “c+” rating to a “b-” rating in a research note on Tuesday, November 28th. Gabelli raised shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a research note on Friday, October 13th. Zacks Investment Research raised shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a research note on Wednesday, October 11th. Credit Suisse Group set a $93.00 price objective on shares of MSC Industrial Direct and gave the stock a “buy” rating in a research note on Friday, October 6th. Finally, Northcoast Research raised shares of MSC Industrial Direct from a “neutral” rating to a “buy” rating in a research note on Friday, December 15th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $95.54.

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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.

Insider Buying and Selling by Quarter for MSC Industrial Direct (NYSE:MSM)

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