MSC Industrial Direct (MSM) Issues Earnings Results, Beats Expectations By $0.01 EPS

MSC Industrial Direct (NYSE:MSM) issued its quarterly earnings data on Wednesday. The industrial products company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.01, Bloomberg Earnings reports. The business had revenue of $831.60 million for the quarter, compared to analysts’ expectations of $830.60 million. MSC Industrial Direct had a return on equity of 21.36% and a net margin of 10.28%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.05 EPS. MSC Industrial Direct updated its Q2 2019 guidance to $1.22-1.28 EPS and its Q2 guidance to $1.22-1.28 EPS.

NYSE:MSM opened at $76.87 on Thursday. MSC Industrial Direct has a twelve month low of $73.28 and a twelve month high of $99.74. The stock has a market capitalization of $4.30 billion, a price-to-earnings ratio of 15.13, a price-to-earnings-growth ratio of 0.87 and a beta of 0.77. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.28 and a current ratio of 2.34.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 22nd. Shareholders of record on Tuesday, January 8th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Monday, January 7th. This represents a $2.52 annualized dividend and a dividend yield of 3.28%. MSC Industrial Direct’s payout ratio is currently 49.61%.

In related news, SVP David Wright sold 5,404 shares of the firm’s stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $89.00, for a total transaction of $480,956.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Rustom Jilla sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $87.50, for a total value of $218,750.00. The disclosure for this sale can be found here. Company insiders own 27.96% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in MSM. Strs Ohio purchased a new position in shares of MSC Industrial Direct during the 2nd quarter valued at about $357,000. BlackRock Inc. raised its holdings in shares of MSC Industrial Direct by 3.6% during the 2nd quarter. BlackRock Inc. now owns 4,008,426 shares of the industrial products company’s stock valued at $340,115,000 after buying an additional 140,430 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of MSC Industrial Direct by 76.0% during the 2nd quarter. Janus Henderson Group PLC now owns 33,800 shares of the industrial products company’s stock valued at $2,868,000 after buying an additional 14,600 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in shares of MSC Industrial Direct by 3.3% during the 2nd quarter. Great West Life Assurance Co. Can now owns 26,729 shares of the industrial products company’s stock valued at $2,268,000 after buying an additional 844 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in shares of MSC Industrial Direct by 4.0% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 17,590 shares of the industrial products company’s stock valued at $1,493,000 after buying an additional 674 shares in the last quarter. 75.87% of the stock is currently owned by institutional investors.

A number of brokerages recently issued reports on MSM. Zacks Investment Research cut MSC Industrial Direct from a “hold” rating to a “sell” rating in a report on Thursday. Jefferies Financial Group began coverage on MSC Industrial Direct in a report on Monday. They set a “buy” rating and a $92.00 price objective on the stock. Wells Fargo & Co dropped their price objective on MSC Industrial Direct from $87.00 to $85.00 and set a “market perform” rating on the stock in a report on Friday, December 21st. Buckingham Research began coverage on MSC Industrial Direct in a report on Friday, October 12th. They set a “neutral” rating and a $89.00 price objective on the stock. Finally, Gordon Haskett began coverage on MSC Industrial Direct in a report on Friday, October 12th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. MSC Industrial Direct has an average rating of “Hold” and a consensus target price of $98.42.

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MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products in the United States, Canada, and the United Kingdom. The company's MRO products comprise 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.

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Earnings History for MSC Industrial Direct (NYSE:MSM)

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