MSC Industrial Direct Co Inc (NYSE:MSM) – Equities research analysts at KeyCorp lifted their Q4 2018 earnings per share estimates for MSC Industrial Direct in a research note issued to investors on Wednesday. KeyCorp analyst S. Barger now forecasts that the industrial products company will post earnings of $1.28 per share for the quarter, up from their previous estimate of $1.12. KeyCorp currently has a “Hold” rating on the stock.
MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings results on Wednesday, January 10th. The industrial products company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.01). The company had revenue of $768.60 million during the quarter, compared to analysts’ expectations of $770.95 million. MSC Industrial Direct had a return on equity of 19.37% and a net margin of 7.97%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.95 EPS.
Shares of MSC Industrial Direct (NYSE:MSM) opened at $94.75 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 0.97. The company has a market capitalization of $5,365.60, a PE ratio of 22.89, a price-to-earnings-growth ratio of 1.82 and a beta of 0.67. MSC Industrial Direct has a 1 year low of $65.42 and a 1 year high of $105.70.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Leith Wheeler Investment Counsel Ltd. grew its holdings in MSC Industrial Direct by 5.5% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 22,407 shares of the industrial products company’s stock valued at $2,166,000 after buying an additional 1,160 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in MSC Industrial Direct by 30.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 372,507 shares of the industrial products company’s stock valued at $28,150,000 after buying an additional 87,188 shares in the last quarter. GSA Capital Partners LLP lifted its stake in shares of MSC Industrial Direct by 37.4% in the 3rd quarter. GSA Capital Partners LLP now owns 13,182 shares of the industrial products company’s stock valued at $996,000 after purchasing an additional 3,589 shares during the last quarter. DF Dent & Co. Inc. lifted its stake in shares of MSC Industrial Direct by 37.5% in the 3rd quarter. DF Dent & Co. Inc. now owns 4,407 shares of the industrial products company’s stock valued at $333,000 after purchasing an additional 1,203 shares during the last quarter. Finally, California Public Employees Retirement System lifted its stake in shares of MSC Industrial Direct by 6.3% in the 3rd quarter. California Public Employees Retirement System now owns 141,409 shares of the industrial products company’s stock valued at $10,686,000 after purchasing an additional 8,409 shares during the last quarter. Institutional investors and hedge funds own 75.55% of the company’s stock.
In other MSC Industrial Direct news, SVP Christopher Davanzo sold 12,046 shares of the firm’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $93.43, for a total transaction of $1,125,457.78. Following the completion of the transaction, the senior vice president now owns 12,432 shares in the company, valued at approximately $1,161,521.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mitchell Jacobson sold 13,582 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $81.91, for a total value of $1,112,501.62. The disclosure for this sale can be found here. Insiders have sold a total of 237,587 shares of company stock valued at $19,390,269 in the last 90 days. 31.28% of the stock is currently owned by company insiders.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Investors of record on Tuesday, January 16th will be given a dividend of $0.58 per share. The ex-dividend date is Friday, January 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.45%. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.48. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 46.38%.
MSC Industrial Direct announced that its board has initiated a stock repurchase plan on Wednesday, January 10th that authorizes the company to repurchase 2,000,000 shares. This repurchase authorization authorizes the industrial products company to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
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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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