MSC Industrial Direct Target of Unusually High Options Trading (MSM)

MSC Industrial Direct (NYSE:MSM) was the target of some unusual options trading on Thursday. Stock investors acquired 2,621 put options on the company. This represents an increase of 1,813% compared to the average daily volume of 137 put options.

In other news, VP Charles Bonomo sold 14,946 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $98.79, for a total value of $1,476,515.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mitchell Jacobson sold 362,753 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $94.09, for a total value of $34,131,429.77. Following the completion of the sale, the director now owns 90,000 shares of the company’s stock, valued at $8,468,100. The disclosure for this sale can be found here. Insiders sold a total of 523,543 shares of company stock valued at $49,456,203 over the last quarter. Company insiders own 31.28% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of MSM. Anchor Bolt Capital LP bought a new stake in shares of MSC Industrial Direct in the 4th quarter worth $37,496,000. Raymond James & Associates raised its stake in shares of MSC Industrial Direct by 653.3% in the 4th quarter. Raymond James & Associates now owns 306,544 shares of the industrial products company’s stock worth $29,631,000 after buying an additional 265,850 shares in the last quarter. ArrowMark Colorado Holdings LLC raised its stake in shares of MSC Industrial Direct by 13.5% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,798,812 shares of the industrial products company’s stock worth $173,873,000 after buying an additional 213,957 shares in the last quarter. Two Sigma Investments LP raised its position in shares of MSC Industrial Direct by 534.5% during the fourth quarter. Two Sigma Investments LP now owns 203,243 shares of the industrial products company’s stock worth $19,645,000 after purchasing an additional 171,213 shares during the period. Finally, Monarch Partners Asset Management LLC acquired a new stake in shares of MSC Industrial Direct during the fourth quarter worth $10,834,000. 75.32% of the stock is currently owned by institutional investors.

MSM opened at $89.53 on Friday. MSC Industrial Direct has a one year low of $65.42 and a one year high of $99.94. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.19 and a current ratio of 2.20. The firm has a market capitalization of $5,122.25, a PE ratio of 19.94, a PEG ratio of 1.29 and a beta of 0.60.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data on Tuesday, April 10th. The industrial products company reported $1.34 EPS for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.02. MSC Industrial Direct had a return on equity of 20.53% and a net margin of 9.91%. The company had revenue of $769.00 million for the quarter, compared to the consensus estimate of $773.42 million. During the same quarter in the previous year, the business earned $1.33 EPS. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. research analysts forecast that MSC Industrial Direct will post 5.18 EPS for the current year.

MSC Industrial Direct announced that its board has approved a share buyback program on Wednesday, January 10th that permits the company to repurchase 2,000,000 outstanding shares. This repurchase authorization permits the industrial products company to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 17th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Monday, April 16th. MSC Industrial Direct’s dividend payout ratio is presently 57.28%.

A number of equities research analysts have recently weighed in on MSM shares. Stephens set a $114.00 price target on MSC Industrial Direct and gave the company a “buy” rating in a report on Wednesday, January 10th. Zacks Investment Research upgraded MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research report on Wednesday, January 10th. Goldman Sachs started coverage on MSC Industrial Direct in a research report on Sunday, March 18th. They set a “buy” rating and a $107.00 price objective for the company. Gabelli lowered MSC Industrial Direct from a “buy” rating to a “hold” rating and set a $99.00 price objective for the company. in a research report on Friday, March 16th. Finally, Stifel Nicolaus restated a “hold” rating and set a $100.00 price objective (up previously from $98.00) on shares of MSC Industrial Direct in a research report on Friday, January 12th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $100.62.

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MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes various ranges of metalworking and maintenance, repair, and operations (MRO) products primarily 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, 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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