MSC Industrial Direct Co., Inc. (NYSE:MSM – Get Free Report) shares gapped down before the market opened on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $95.62, but opened at $92.25. MSC Industrial Direct shares last traded at $91.35, with a volume of 81,215 shares.
The industrial products company reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.05). The company had revenue of $954.00 million during the quarter, compared to analysts’ expectations of $971.31 million. MSC Industrial Direct had a return on equity of 24.29% and a net margin of 8.56%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.48 EPS.
MSC Industrial Direct Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 23rd. Investors of record on Tuesday, January 9th will be paid a dividend of $0.83 per share. The ex-dividend date is Monday, January 8th. This represents a $3.32 annualized dividend and a yield of 3.60%. MSC Industrial Direct’s payout ratio is 54.34%.
Analyst Upgrades and Downgrades
Several research firms have commented on MSM. Loop Capital raised shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and increased their price objective for the company from $96.00 to $124.00 in a report on Monday, October 9th. StockNews.com assumed coverage on shares of MSC Industrial Direct in a research report on Thursday, October 5th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $105.60.
Insiders Place Their Bets
In other news, CFO Kristen Actis-Grande sold 2,690 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $98.57, for a total transaction of $265,153.30. Following the transaction, the chief financial officer now owns 4,622 shares of the company’s stock, valued at $455,590.54. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other MSC Industrial Direct news, CEO Erik Gershwind sold 13,599 shares of the firm’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $97.91, for a total transaction of $1,331,478.09. Following the transaction, the chief executive officer now directly owns 1,339,052 shares in the company, valued at approximately $131,106,581.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kristen Actis-Grande sold 2,690 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $98.57, for a total value of $265,153.30. Following the transaction, the chief financial officer now directly owns 4,622 shares in the company, valued at approximately $455,590.54. The disclosure for this sale can be found here. Insiders sold a total of 19,175 shares of company stock valued at $1,881,595 over the last 90 days. Insiders own 18.80% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Institutional & Family Asset Management LLC bought a new position in shares of MSC Industrial Direct during the second quarter valued at approximately $32,000. Alaska Permanent Fund Corp purchased a new stake in MSC Industrial Direct during the second quarter worth $41,000. Quent Capital LLC boosted its position in MSC Industrial Direct by 168.8% during the 3rd quarter. Quent Capital LLC now owns 516 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 324 shares in the last quarter. Altshuler Shaham Ltd increased its holdings in shares of MSC Industrial Direct by 154.8% in the 4th quarter. Altshuler Shaham Ltd now owns 800 shares of the industrial products company’s stock valued at $65,000 after acquiring an additional 486 shares during the period. Finally, Headlands Technologies LLC bought a new position in shares of MSC Industrial Direct in the 3rd quarter worth $93,000. 89.51% of the stock is currently owned by institutional investors.
MSC Industrial Direct Stock Down 3.7 %
The business has a 50 day moving average of $98.91 and a two-hundred day moving average of $98.67. The stock has a market capitalization of $5.27 billion, a PE ratio of 15.65 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.91 and a current ratio of 2.03.
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.