MSC Industrial Direct (NYSE:MSM) Posts Earnings Results, Beats Estimates By $0.04 EPS

MSC Industrial Direct (NYSE:MSM) released its quarterly earnings data on Wednesday. The industrial products company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.04, Zacks reports. MSC Industrial Direct had a return on equity of 15.21% and a net margin of 5.29%.During the same period in the prior year, the company earned $0.86 earnings per share. MSC Industrial Direct’s quarterly revenue was up 4.0% on a year-over-year basis.

MSC Industrial Direct Price Performance

Shares of NYSE MSM opened at $85.09 on Wednesday. MSC Industrial Direct has a fifty-two week low of $68.10 and a fifty-two week high of $94.31. The company has a market cap of $4.75 billion, a PE ratio of 23.90 and a beta of 0.85. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.80 and a current ratio of 1.68. The business has a 50-day simple moving average of $86.09 and a two-hundred day simple moving average of $87.71.

MSC Industrial Direct Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 28th. Shareholders of record on Wednesday, January 14th will be paid a $0.87 dividend. The ex-dividend date is Wednesday, January 14th. This represents a $3.48 dividend on an annualized basis and a yield of 4.1%. MSC Industrial Direct’s dividend payout ratio (DPR) is 97.75%.

Insider Activity

In related news, Director Philip Peller purchased 6,666 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were acquired at an average price of $90.14 per share, for a total transaction of $600,873.24. Following the purchase, the director owned 9,537 shares of the company’s stock, valued at $859,665.18. This trade represents a 232.18% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mitchell Jacobson purchased 95,779 shares of the firm’s stock in a transaction on Thursday, October 30th. The stock was bought at an average cost of $84.92 per share, with a total value of $8,133,552.68. Following the acquisition, the director owned 2,219,295 shares of the company’s stock, valued at approximately $188,462,531.40. The trade was a 4.51% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have bought 211,342 shares of company stock worth $17,951,965. Corporate insiders own 19.00% of the company’s stock.

Hedge Funds Weigh In On MSC Industrial Direct

Hedge funds have recently made changes to their positions in the company. Coldstream Capital Management Inc. acquired a new stake in MSC Industrial Direct during the 3rd quarter worth about $214,000. Danske Bank A S acquired a new stake in shares of MSC Industrial Direct during the third quarter worth about $92,000. Morningstar Investment Management LLC purchased a new stake in MSC Industrial Direct in the third quarter valued at approximately $936,000. CANADA LIFE ASSURANCE Co increased its holdings in MSC Industrial Direct by 0.4% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 34,884 shares of the industrial products company’s stock worth $3,169,000 after buying an additional 136 shares during the period. Finally, Dark Forest Capital Management LP purchased a new position in MSC Industrial Direct during the 3rd quarter worth approximately $771,000. 79.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MSM. Wolfe Research lowered shares of MSC Industrial Direct from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 8th. Zacks Research lowered MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MSC Industrial Direct in a research report on Friday, October 31st. Wall Street Zen lowered MSC Industrial Direct from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of MSC Industrial Direct from $93.00 to $96.00 and gave the stock an “overweight” rating in a report on Friday, October 24th. One equities research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $91.50.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc (NYSE: MSM) is a leading distributor of metalworking and maintenance, repair and operations (MRO) products serving a broad range of industrial customers across North America. The company offers an extensive portfolio of cutting tools, abrasives, measuring and inspection instruments, fasteners, safety supplies and other essential components used in manufacturing, metalworking and production environments. MSC delivers products through a multi-channel distribution network, including an extensive branch system, e-commerce platform and dedicated sales force.

In addition to its core product offerings, MSC Industrial Direct provides value-added services designed to improve productivity and reduce downtime for its customers.