Christopher Davanzo Sells 3,000 Shares of MSC Industrial Direct Co. (MSM) Stock
MSC Industrial Direct Co. (NYSE:MSM) SVP Christopher Davanzo sold 3,000 shares of MSC Industrial Direct stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $83.50, for a total value of $250,500.00. Following the transaction, the senior vice president now owns 9,505 shares in the company, valued at approximately $793,667.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
MSC Industrial Direct Co. (NYSE:MSM) opened at 84.27 on Friday. The stock has a 50 day moving average price of $74.81 and a 200 day moving average price of $73.48. The stock has a market cap of $4.77 billion, a PE ratio of 22.35 and a beta of 0.45. MSC Industrial Direct Co. has a 52 week low of $54.19 and a 52 week high of $84.47.
MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings data on Tuesday, November 1st. The company reported $1.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.04. MSC Industrial Direct had a return on equity of 17.62% and a net margin of 8.07%. The business had revenue of $745.10 million for the quarter, compared to the consensus estimate of $736.53 million. During the same period in the prior year, the business earned $0.96 earnings per share. The business’s revenue was up 2.4% on a year-over-year basis. On average, equities analysts predict that MSC Industrial Direct Co. will post $3.87 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 29th. Stockholders of record on Tuesday, November 15th will be given a $0.45 dividend. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Friday, November 11th. MSC Industrial Direct’s dividend payout ratio is currently 47.87%.
Hedge funds have recently modified their holdings of the stock. Evercore Wealth Management LLC increased its stake in shares of MSC Industrial Direct by 6.1% in the second quarter. Evercore Wealth Management LLC now owns 1,433 shares of the company’s stock valued at $101,000 after buying an additional 83 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new position in MSC Industrial Direct during the second quarter valued at $103,000. Catalyst Capital Advisors LLC acquired a new position in MSC Industrial Direct during the third quarter valued at $103,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in MSC Industrial Direct by 12.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,608 shares of the company’s stock valued at $118,000 after buying an additional 174 shares during the period. Finally, Riverhead Capital Management LLC increased its position in MSC Industrial Direct by 130.9% in the third quarter. Riverhead Capital Management LLC now owns 1,930 shares of the company’s stock valued at $142,000 after buying an additional 1,094 shares during the period. Institutional investors and hedge funds own 77.55% of the company’s stock.
A number of analysts recently issued reports on the company. Wells Fargo & Co. reissued a “hold” rating on shares of MSC Industrial Direct in a research report on Sunday, September 4th. Credit Suisse Group AG assumed coverage on MSC Industrial Direct in a research report on Friday, August 19th. They set an “underperform” rating and a $65.00 price objective for the company. Macquarie assumed coverage on MSC Industrial Direct in a research report on Thursday, August 25th. They set a “neutral” rating and a $80.00 price objective for the company. Finally, Zacks Investment Research raised MSC Industrial Direct from a “sell” rating to a “hold” rating in a research report on Tuesday, October 4th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $76.25.
About MSC Industrial Direct
MSC Industrial Direct Co, Inc (MSC) is direct marketers and distributors of a range of metalworking and maintenance, repair and operations (MRO) products to customers throughout the United States. The Company operates primarily in the United States, with customers in all 50 states, through a network of five customer fulfillment centers (four customer fulfillment centers are located within the United States and one is located in the United Kingdom and 106 branch offices (104 branches are located within the United States, one is located in the United Kingdom and the other is located in Mexico).
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