MSC Industrial Direct (NYSE:MSM) Issues Earnings Results

Posted by Lisa Pomrenke on Apr 8th, 2021

MSC Industrial Direct (NYSE:MSM) posted its earnings results on Tuesday. The industrial products company reported $1.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.01, MarketWatch Earnings reports. MSC Industrial Direct had a return on equity of 20.42% and a net margin of 7.14%. The business had revenue of $774.00 million during the quarter, compared to analyst estimates of $778.77 million. During the same quarter in the previous year, the firm earned $1.00 EPS. The company’s quarterly revenue was down 1.5% compared to the same quarter last year.

Shares of MSC Industrial Direct stock opened at $86.65 on Thursday. The company has a quick ratio of 1.22, a current ratio of 2.23 and a debt-to-equity ratio of 0.41. The company has a market cap of $4.84 billion, a PE ratio of 21.50 and a beta of 0.99. The business has a 50 day moving average of $88.03 and a 200 day moving average of $80.50. MSC Industrial Direct has a 52 week low of $56.16 and a 52 week high of $93.92.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 27th. Shareholders of record on Tuesday, April 13th will be given a $0.75 dividend. The ex-dividend date is Monday, April 12th. This represents a $3.00 annualized dividend and a yield of 3.46%. MSC Industrial Direct’s payout ratio is currently 63.29%.

In other MSC Industrial Direct news, Director Mitchell Jacobson bought 67,796 shares of the firm’s stock in a transaction that occurred on Friday, January 29th. The stock was bought at an average price of $78.04 per share, for a total transaction of $5,290,799.84. Following the completion of the acquisition, the director now directly owns 67,796 shares in the company, valued at $5,290,799.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kari D. Heerdt sold 28,934 shares of the company’s stock in a transaction that occurred on Thursday, March 11th. The shares were sold at an average price of $90.00, for a total value of $2,604,060.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,339 shares of company stock valued at $7,019,914. 28.44% of the stock is owned by corporate insiders.

Several research analysts have recently commented on MSM shares. Zacks Investment Research lowered MSC Industrial Direct from a “hold” rating to a “sell” rating in a report on Wednesday. Wells Fargo & Company raised MSC Industrial Direct from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $90.00 to $105.00 in a report on Thursday. Deutsche Bank Aktiengesellschaft cut their price objective on MSC Industrial Direct from $90.00 to $89.00 and set a “hold” rating for the company in a report on Monday. Finally, William Blair reaffirmed an “outperform” rating on shares of MSC Industrial Direct in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. MSC Industrial Direct presently has a consensus rating of “Hold” and an average price target of $85.00.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products in the United States, Canada, Mexico, and the United Kingdom. Its MRO products include 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.

MSC Industrial Direct (NYSE:MSM) Issues Earnings Results

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