MSC Industrial Direct Co Inc (NYSE:MSM) – Stock analysts at KeyCorp dropped their Q2 2019 EPS estimates for shares of MSC Industrial Direct in a note issued to investors on Wednesday, January 9th. KeyCorp analyst S. Barger now anticipates that the industrial products company will post earnings per share of $1.27 for the quarter, down from their prior estimate of $1.43. KeyCorp also issued estimates for MSC Industrial Direct’s Q3 2019 earnings at $1.61 EPS, Q4 2019 earnings at $1.58 EPS, FY2019 earnings at $5.80 EPS and FY2020 earnings at $6.20 EPS.
Several other analysts have also recently weighed in on MSM. Zacks Investment Research cut shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a research note on Tuesday, October 30th. Jefferies Financial Group initiated coverage on shares of MSC Industrial Direct in a research note on Monday. They set a “buy” rating and a $92.00 price target on the stock. Wells Fargo & Co decreased their price target on shares of 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. Gordon Haskett initiated coverage on shares of MSC Industrial Direct in a research note on Friday, October 12th. They set a “buy” rating on the stock. Finally, Buckingham Research initiated coverage on shares of MSC Industrial Direct in a research note on Friday, October 12th. They set a “neutral” rating and a $89.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $98.42.
MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings data on Wednesday, January 9th. The industrial products company reported $1.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.01. The firm had revenue of $831.60 million for the quarter, compared to analysts’ expectations of $830.60 million. MSC Industrial Direct had a net margin of 10.53% and a return on equity of 21.97%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.05 earnings per share.
The firm 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 $0.63 dividend. The ex-dividend date is Monday, January 7th. This represents a $2.52 dividend on an annualized basis and a yield of 3.20%. MSC Industrial Direct’s payout ratio is presently 49.61%.
In other MSC Industrial Direct news, CFO Rustom Jilla sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $87.50, for a total value of $218,750.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP David Wright sold 5,404 shares of the firm’s stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $89.00, for a total transaction of $480,956.00. The disclosure for this sale can be found here. 27.96% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in MSM. American Century Companies Inc. boosted its stake in MSC Industrial Direct by 22.7% in the third quarter. American Century Companies Inc. now owns 2,973,375 shares of the industrial products company’s stock valued at $261,984,000 after acquiring an additional 549,641 shares during the last quarter. Paradice Investment Management LLC bought a new position in MSC Industrial Direct in the third quarter valued at approximately $45,697,000. Morgan Stanley boosted its stake in MSC Industrial Direct by 111.5% in the second quarter. Morgan Stanley now owns 503,143 shares of the industrial products company’s stock valued at $42,690,000 after acquiring an additional 265,257 shares during the last quarter. First Trust Advisors LP boosted its stake in MSC Industrial Direct by 70.1% in the third quarter. First Trust Advisors LP now owns 559,231 shares of the industrial products company’s stock valued at $49,274,000 after acquiring an additional 230,456 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in MSC Industrial Direct by 121.2% in the third quarter. Deutsche Bank AG now owns 413,937 shares of the industrial products company’s stock worth $36,469,000 after purchasing an additional 226,773 shares during the period. 75.87% of the stock is currently owned by hedge funds and other institutional investors.
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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