MSC Industrial Direct (NYSE:MSM) Releases Earnings Results

MSC Industrial Direct (NYSE:MSM) posted its earnings results on Thursday. The industrial products company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.02, Briefing.com reports. The firm had revenue of $935.30 million for the quarter, compared to the consensus estimate of $946.55 million. MSC Industrial Direct had a net margin of 8.27% and a return on equity of 23.46%. The company’s revenue was down 2.7% on a year-over-year basis. During the same period last year, the firm posted $1.45 EPS.

MSC Industrial Direct Stock Performance

MSC Industrial Direct stock traded down $2.48 during midday trading on Friday, hitting $97.04. 938,314 shares of the company’s stock were exchanged, compared to its average volume of 508,079. MSC Industrial Direct has a 12-month low of $82.09 and a 12-month high of $105.77. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of 16.50 and a beta of 0.96. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.89 and a current ratio of 2.02. The firm’s 50 day simple moving average is $98.62 and its 200 day simple moving average is $98.30.

MSC Industrial Direct Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 23rd. Shareholders of record on Tuesday, April 9th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.42%. The ex-dividend date is Monday, April 8th. MSC Industrial Direct’s payout ratio is currently 56.46%.

Wall Street Analysts Forecast Growth

Separately, KeyCorp dropped their target price on shares of MSC Industrial Direct from $105.00 to $102.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 10th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $105.00.

Insider Transactions at MSC Industrial Direct

In other news, Director Mitchell Jacobson sold 24,501 shares of the firm’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $99.31, for a total value of $2,433,194.31. Following the completion of the sale, the director now owns 1,683,810 shares in the company, valued at approximately $167,219,171.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Mitchell Jacobson sold 24,501 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $99.31, for a total value of $2,433,194.31. Following the completion of the sale, the director now owns 1,683,810 shares in the company, valued at $167,219,171.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Erik Gershwind sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $96.00, for a total transaction of $720,000.00. Following the completion of the sale, the chief executive officer now owns 1,432,038 shares of the company’s stock, valued at approximately $137,475,648. The disclosure for this sale can be found here. In the last quarter, insiders sold 254,503 shares of company stock worth $24,841,663. Company insiders own 18.80% of the company’s stock.

Hedge Funds Weigh In On MSC Industrial Direct

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MSM. Altshuler Shaham Ltd raised its position in MSC Industrial Direct by 154.8% during the fourth quarter. Altshuler Shaham Ltd now owns 800 shares of the industrial products company’s stock worth $65,000 after acquiring an additional 486 shares during the last quarter. KBC Group NV acquired a new position in MSC Industrial Direct during the fourth quarter worth about $93,000. Point72 Europe London LLP acquired a new position in MSC Industrial Direct during the fourth quarter worth about $121,000. Point72 Hong Kong Ltd raised its position in MSC Industrial Direct by 224.5% during the first quarter. Point72 Hong Kong Ltd now owns 1,441 shares of the industrial products company’s stock worth $123,000 after acquiring an additional 997 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of MSC Industrial Direct by 115.7% during the first quarter. PNC Financial Services Group Inc. now owns 1,514 shares of the industrial products company’s stock worth $128,000 after buying an additional 812 shares in the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

MSC Industrial Direct Company Profile

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