MSC Industrial Direct Co Inc (NYSE:MSM) SVP Steve Armstrong sold 19,162 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $94.98, for a total value of $1,820,006.76. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through this link.
MSC Industrial Direct Co Inc (NYSE MSM) opened at $90.72 on Thursday. The company has a current ratio of 1.92, a quick ratio of 1.04 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $5,120.00, a PE ratio of 21.86, a PEG ratio of 1.38 and a beta of 0.67. MSC Industrial Direct Co Inc has a 52-week low of $65.42 and a 52-week high of $105.70.
MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data on Wednesday, January 10th. The industrial products company reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.01). The firm had revenue of $768.60 million for the quarter, compared to analyst estimates of $770.95 million. MSC Industrial Direct had a return on equity of 19.37% and a net margin of 7.97%. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.95 earnings per share. research analysts anticipate that MSC Industrial Direct Co Inc will post 5 EPS for the current fiscal year.
MSC Industrial Direct declared that its board has authorized a stock repurchase program on Wednesday, January 10th that permits the company to buyback 2,000,000 shares. This buyback authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Several hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in shares of MSC Industrial Direct by 5.1% during the third quarter. JPMorgan Chase & Co. now owns 3,284,345 shares of the industrial products company’s stock worth $246,031,000 after buying an additional 159,772 shares during the period. American Century Companies Inc. increased its stake in MSC Industrial Direct by 1,889.6% during the 3rd quarter. American Century Companies Inc. now owns 2,099,225 shares of the industrial products company’s stock worth $158,638,000 after acquiring an additional 1,993,717 shares during the period. State Street Corp increased its stake in MSC Industrial Direct by 1.6% during the 2nd quarter. State Street Corp now owns 1,222,773 shares of the industrial products company’s stock worth $105,113,000 after acquiring an additional 19,302 shares during the period. Bank of New York Mellon Corp increased its stake in MSC Industrial Direct by 105.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,179,178 shares of the industrial products company’s stock worth $89,112,000 after acquiring an additional 604,873 shares during the period. Finally, Schroder Investment Management Group increased its stake in MSC Industrial Direct by 52.7% during the 3rd quarter. Schroder Investment Management Group now owns 964,486 shares of the industrial products company’s stock worth $72,250,000 after acquiring an additional 332,893 shares during the period. 75.53% of the stock is owned by institutional investors.
MSM has been the topic of a number of recent analyst reports. Credit Suisse Group set a $93.00 price objective on MSC Industrial Direct and gave the stock a “buy” rating in a research note on Friday, October 6th. Gabelli raised 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 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. Stifel Nicolaus restated a “hold” rating and set a $93.00 target price on shares of MSC Industrial Direct in a research report on Monday, December 11th. Finally, Northcoast Research upgraded MSC Industrial Direct from a “neutral” rating to a “buy” rating in a research report on Friday, December 15th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. MSC Industrial Direct presently has an average rating of “Hold” and an average target price of $95.54.
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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.
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