MSC Industrial Direct (NYSE:MSM) released its quarterly earnings results on Wednesday. The industrial products company reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.01, Bloomberg Earnings reports. MSC Industrial Direct had a return on equity of 21.36% and a net margin of 10.28%. The company had revenue of $831.60 million for the quarter, compared to analyst estimates of $830.60 million. During the same period in the previous year, the company posted $1.05 earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis. MSC Industrial Direct updated its Q2 2019 guidance to $1.22-1.28 EPS and its Q2 guidance to $1.22-1.28 EPS.
Shares of NYSE:MSM opened at $76.87 on Thursday. The firm has a market cap of $4.30 billion, a price-to-earnings ratio of 15.13, a P/E/G ratio of 0.87 and a beta of 0.77. MSC Industrial Direct has a 12-month low of $73.28 and a 12-month high of $99.74. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.34 and a quick ratio of 1.28.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 22nd. Shareholders of record on Tuesday, January 8th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date is Monday, January 7th. MSC Industrial Direct’s payout ratio is 49.61%.
In other MSC Industrial Direct news, CFO Rustom Jilla sold 2,500 shares of MSC Industrial Direct stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $87.50, for a total transaction of $218,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP David Wright sold 5,404 shares of MSC Industrial Direct stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $89.00, for a total value of $480,956.00. The disclosure for this sale can be found here. 27.96% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of MSM. Strs Ohio purchased a new position in shares of MSC Industrial Direct in the second quarter worth $357,000. BlackRock Inc. raised its stake in shares of MSC Industrial Direct by 3.6% in the second quarter. BlackRock Inc. now owns 4,008,426 shares of the industrial products company’s stock worth $340,115,000 after purchasing an additional 140,430 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of MSC Industrial Direct by 76.0% in the second quarter. Janus Henderson Group PLC now owns 33,800 shares of the industrial products company’s stock worth $2,868,000 after purchasing an additional 14,600 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in shares of MSC Industrial Direct by 3.3% in the second quarter. Great West Life Assurance Co. Can now owns 26,729 shares of the industrial products company’s stock worth $2,268,000 after purchasing an additional 844 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of MSC Industrial Direct by 4.0% in the second quarter. Oregon Public Employees Retirement Fund now owns 17,590 shares of the industrial products company’s stock worth $1,493,000 after purchasing an additional 674 shares during the last quarter. Hedge funds and other institutional investors own 75.87% of the company’s stock.
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About MSC Industrial Direct
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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