MSC Industrial Direct Co Inc (NYSE:MSM) – Stock analysts at Northcoast Research upped their Q3 2018 earnings per share (EPS) estimates for MSC Industrial Direct in a report issued on Thursday. Northcoast Research analyst R. Cieslak now expects that the industrial products company will earn $1.46 per share for the quarter, up from their previous forecast of $1.28. Northcoast Research currently has a “Buy” rating on the stock. Northcoast Research also issued estimates for MSC Industrial Direct’s Q4 2018 earnings at $1.39 EPS.
MSM has been the subject of several other research reports. Susquehanna Bancshares began coverage on shares of MSC Industrial Direct in a research report on Monday, September 25th. They issued a “neutral” rating and a $77.00 price objective for the company. KeyCorp restated a “hold” rating on shares of MSC Industrial Direct in a research report on Tuesday, October 17th. BMO Capital Markets restated a “market perform” rating and issued a $83.00 price objective (up previously from $79.00) on shares of MSC Industrial Direct in a research report on Monday, October 9th. Gabelli upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a research report on Friday, October 13th. Finally, Stephens set a $114.00 price objective on shares of MSC Industrial Direct and gave the stock a “buy” rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. MSC Industrial Direct currently has an average rating of “Hold” and a consensus target price of $95.54.
MSC Industrial Direct (NYSE MSM) traded up $2.62 during mid-day trading on Friday, reaching $95.15. 1,547,900 shares of the company traded hands, compared to its average volume of 1,011,050. The company has a quick ratio of 0.97, a current ratio of 1.80 and a debt-to-equity ratio of 0.16. MSC Industrial Direct has a 1 year low of $65.42 and a 1 year high of $105.70. The company has a market cap of $5,370.00, a PE ratio of 22.93, a PEG ratio of 1.90 and a beta of 0.67.
MSC Industrial Direct (NYSE:MSM) last posted its earnings results on Wednesday, January 10th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.01). MSC Industrial Direct had a net margin of 8.01% and a return on equity of 19.42%. The firm had revenue of $768.60 million during the quarter, compared to the consensus estimate of $770.95 million. During the same quarter last year, the firm posted $0.95 EPS. The business’s revenue was up 12.0% on a year-over-year basis.
MSC Industrial Direct declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 10th that permits the company to repurchase 2,000,000 shares. This repurchase authorization permits the industrial products company to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Shareholders of record on Tuesday, January 16th will be given a dividend of $0.58 per share. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, January 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.44%. MSC Industrial Direct’s payout ratio is presently 46.27%.
In other MSC Industrial Direct news, EVP Steven N. Baruch sold 5,762 shares of the company’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $81.25, for a total transaction of $468,162.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mitchell Jacobson sold 33,866 shares of the company’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $82.39, for a total transaction of $2,790,219.74. Following the sale, the director now owns 35,932 shares of the company’s stock, valued at approximately $2,960,437.48. The disclosure for this sale can be found here. Insiders have sold a total of 225,541 shares of company stock valued at $18,264,812 in the last quarter. Corporate insiders own 31.38% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of MSC Industrial Direct by 8.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,539 shares of the industrial products company’s stock valued at $132,000 after acquiring an additional 123 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of MSC Industrial Direct by 0.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,577 shares of the industrial products company’s stock valued at $136,000 after acquiring an additional 8 shares during the last quarter. QS Investors LLC raised its position in shares of MSC Industrial Direct by 0.5% during the 2nd quarter. QS Investors LLC now owns 1,749 shares of the industrial products company’s stock valued at $150,000 after acquiring an additional 8 shares during the last quarter. Zions Bancorporation acquired a new position in shares of MSC Industrial Direct in the 3rd quarter valued at $150,000. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of MSC Industrial Direct by 1,373.3% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 2,210 shares of the industrial products company’s stock valued at $167,000 after buying an additional 2,060 shares during the period. Institutional investors own 75.55% of the company’s stock.
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MSC Industrial Direct Company Profile
MSC Industrial Direct Co, Inc is a North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. The Company’s range of MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, 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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