MSC Industrial Direct Co Inc (MSM) Insider Erik Gershwind Sells 30,240 Shares

MSC Industrial Direct Co Inc (NYSE:MSM) insider Erik Gershwind sold 30,240 shares of the company’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $95.28, for a total value of $2,881,267.20. Following the transaction, the insider now directly owns 117,885 shares in the company, valued at approximately $11,232,082.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Shares of MSC Industrial Direct Co Inc (MSM) traded down $2.78 during midday trading on Wednesday, reaching $90.72. The company’s stock had a trading volume of 1,390,000 shares, compared to its average volume of 596,827. The company has a market cap of $5,120.00, a price-to-earnings ratio of 21.86, a P/E/G ratio of 1.39 and a beta of 0.67. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.04. MSC Industrial Direct Co Inc has a fifty-two week low of $65.42 and a fifty-two week high of $105.70.

MSC Industrial Direct (NYSE:MSM) last announced its earnings results on Wednesday, January 10th. The industrial products company reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.01). The business 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%. MSC Industrial Direct’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.95 earnings per share. sell-side analysts expect that MSC Industrial Direct Co Inc will post 5 EPS for the current fiscal year.

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 $0.58 dividend. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.48. This represents a $2.32 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Friday, January 12th. MSC Industrial Direct’s dividend payout ratio is currently 55.90%.

MSC Industrial Direct declared that its Board of Directors has authorized a share repurchase program on Wednesday, January 10th that allows the company to repurchase 2,000,000 outstanding shares. This repurchase authorization allows the industrial products company to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

A number of brokerages recently issued reports on MSM. Susquehanna Bancshares reissued a “hold” rating and set a $92.00 price objective on shares of MSC Industrial Direct in a report on Wednesday, January 3rd. Zacks Investment Research cut MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. UBS Group cut MSC Industrial Direct from a “strong-buy” rating to an “outperform” rating in a report on Thursday, January 4th. Raymond James Financial reissued an “outperform” rating and set a $105.00 price objective (up previously from $95.00) on shares of MSC Industrial Direct in a report on Thursday, January 4th. They noted that the move was a valuation call. Finally, Credit Suisse Group reissued an “outperform” rating and set a $112.00 price objective (up previously from $100.00) on shares of MSC Industrial Direct in a report on Tuesday, January 9th. 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 company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $95.54.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cutler Group LP increased its stake in 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 acquiring an additional 1,831 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in 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 acquiring an additional 123 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in 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 acquiring an additional 8 shares during the last quarter. QS Investors LLC increased its stake in 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 acquiring an additional 8 shares during the last quarter. Finally, Zions Bancorporation bought a new position in shares of MSC Industrial Direct during the 3rd quarter valued at about $150,000. Institutional investors and hedge funds own 75.53% of the company’s stock.

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MSC Industrial Direct Company Profile

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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