MSC Industrial Direct (NYSE:MSM) Issues Earnings Results, Beats Estimates By $0.02 EPS

MSC Industrial Direct (NYSE:MSM) posted its earnings results on Thursday. The industrial products company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.02, Briefing.com reports. The company had revenue of $935.30 million for the quarter, compared to analysts’ expectations of $946.55 million. MSC Industrial Direct had a return on equity of 22.58% and a net margin of 7.89%. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period last year, the business posted $1.45 earnings per share.

MSC Industrial Direct Stock Down 2.5 %

MSM opened at $97.04 on Friday. MSC Industrial Direct has a fifty-two week low of $82.09 and a fifty-two week high of $105.77. The company has a market capitalization of $5.47 billion, a P/E ratio of 17.42 and a beta of 0.96. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.01 and a quick ratio of 0.89. The firm’s fifty day moving average price is $98.62 and its two-hundred day moving average price is $98.31.

MSC Industrial Direct Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 23rd. Stockholders of record on Tuesday, April 9th will be paid a $0.83 dividend. The ex-dividend date is Monday, April 8th. This represents a $3.32 annualized dividend and a dividend yield of 3.42%. MSC Industrial Direct’s payout ratio is 59.61%.

Wall Street Analysts Forecast Growth

Separately, KeyCorp dropped their target price on MSC Industrial Direct from $105.00 to $102.00 and set an “overweight” rating on the stock in a report on Wednesday, January 10th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.00.

Insider Buying and Selling at MSC Industrial Direct

In other MSC Industrial Direct news, CEO Erik Gershwind sold 15,000 shares of the firm’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $96.15, for a total value of $1,442,250.00. Following the completion of the sale, the chief executive officer now owns 1,417,038 shares in the company, valued at approximately $136,248,203.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Mitchell Jacobson sold 18,746 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $97.63, for a total value of $1,830,171.98. Following the transaction, the director now owns 1,846,027 shares in the company, valued at $180,227,616.01. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Erik Gershwind sold 15,000 shares of MSC Industrial Direct stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $96.15, for a total value of $1,442,250.00. Following the completion of the sale, the chief executive officer now owns 1,417,038 shares of the company’s stock, valued at $136,248,203.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 254,503 shares of company stock valued at $24,841,663. 18.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Altshuler Shaham Ltd lifted its holdings in MSC Industrial Direct by 154.8% in the fourth quarter. Altshuler Shaham Ltd now owns 800 shares of the industrial products company’s stock valued at $65,000 after buying an additional 486 shares during the period. KBC Group NV bought a new stake in shares of MSC Industrial Direct during the 4th quarter valued at $93,000. Point72 Europe London LLP acquired a new position in shares of MSC Industrial Direct in the 4th quarter valued at $121,000. Point72 Hong Kong Ltd boosted its position in shares of MSC Industrial Direct by 224.5% in the 1st quarter. Point72 Hong Kong Ltd now owns 1,441 shares of the industrial products company’s stock worth $123,000 after purchasing an additional 997 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of MSC Industrial Direct by 115.7% during the first quarter. PNC Financial Services Group Inc. now owns 1,514 shares of the industrial products company’s stock worth $128,000 after purchasing an additional 812 shares during the period. Institutional investors own 79.26% of the company’s stock.

About MSC Industrial Direct

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.