MSC Industrial Direct Co Inc (NYSE:MSM) – Analysts at Jefferies Financial Group lowered their Q4 2019 earnings estimates for shares of MSC Industrial Direct in a research report issued to clients and investors on Wednesday, April 10th. Jefferies Financial Group analyst S. Volkmann now anticipates that the industrial products company will earn $1.48 per share for the quarter, down from their previous forecast of $1.67. Jefferies Financial Group currently has a “Buy” rating and a $92.00 target price on the stock. Jefferies Financial Group also issued estimates for MSC Industrial Direct’s Q4 2020 earnings at $1.70 EPS.
Several other analysts have also issued reports on MSM. Wells Fargo & Co lowered their target price on MSC Industrial Direct from $87.00 to $85.00 and set a “market perform” rating on the stock in a research note on Friday, December 21st. Zacks Investment Research lowered MSC Industrial Direct from a “hold” rating to a “sell” rating in a research note on Thursday, January 10th. Buckingham Research set a $83.00 target price on MSC Industrial Direct and gave the company a “hold” rating in a research note on Thursday, January 10th. Finally, Stephens lowered MSC Industrial Direct from an “overweight” rating to an “equal weight” rating and set a $92.00 target price on the stock. in a research note on Friday, February 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $88.38.
MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data on Wednesday, April 10th. The industrial products company reported $1.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.26 by ($0.02). The business had revenue of $823.00 million during the quarter, compared to analysts’ expectations of $826.98 million. MSC Industrial Direct had a return on equity of 21.20% and a net margin of 8.88%. During the same period in the prior year, the firm posted $1.34 EPS.
Several large investors have recently added to or reduced their stakes in the stock. Raymond James Trust N.A. raised its stake in shares of MSC Industrial Direct by 10.8% during the 1st quarter. Raymond James Trust N.A. now owns 6,457 shares of the industrial products company’s stock valued at $534,000 after purchasing an additional 629 shares during the period. W.E. Donoghue & Co. LLC bought a new stake in shares of MSC Industrial Direct during the 1st quarter valued at $992,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of MSC Industrial Direct during the 1st quarter valued at $243,000. First Citizens Bank & Trust Co. raised its stake in shares of MSC Industrial Direct by 38.3% during the 1st quarter. First Citizens Bank & Trust Co. now owns 5,346 shares of the industrial products company’s stock valued at $442,000 after purchasing an additional 1,480 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in shares of MSC Industrial Direct by 36.1% during the 1st quarter. State of Alaska Department of Revenue now owns 15,318 shares of the industrial products company’s stock valued at $1,265,000 after purchasing an additional 4,067 shares during the period. Institutional investors own 75.05% of the company’s stock.
In related news, VP Charles Bonomo sold 601 shares of the business’s stock in a transaction on Tuesday, January 29th. The stock was sold at an average price of $83.01, for a total transaction of $49,889.01. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Steve Armstrong sold 5,293 shares of the business’s stock in a transaction on Friday, January 18th. The shares were sold at an average price of $82.48, for a total value of $436,566.64. Following the sale, the senior vice president now owns 7,561 shares in the company, valued at $623,631.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,810 shares of company stock worth $1,635,422. Corporate insiders own 27.96% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 23rd. Shareholders of record on Tuesday, April 9th will be paid a $0.63 dividend. The ex-dividend date is Monday, April 8th. This represents a $2.52 annualized dividend and a dividend yield of 3.07%. MSC Industrial Direct’s payout ratio is presently 49.61%.
MSC Industrial Direct Company Profile
MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products 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 products, 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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