MSC Industrial Direct Co. (MSM) EVP Sells $84,085.83 in Stock
MSC Industrial Direct Co. (NYSE:MSM) EVP Douglas E. Jones sold 999 shares of the business’s stock in a transaction on Friday, November 18th. The stock was sold at an average price of $84.17, for a total transaction of $84,085.83. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of MSC Industrial Direct Co. (NYSE:MSM) traded up 2.98% during midday trading on Monday, hitting $86.79. 1,136,490 shares of the stock were exchanged. The firm has a market capitalization of $4.91 billion, a price-to-earnings ratio of 23.02 and a beta of 0.45. The stock’s 50-day moving average price is $74.88 and its 200-day moving average price is $73.46. MSC Industrial Direct Co. has a 1-year low of $54.19 and a 1-year high of $87.00.
MSC Industrial Direct (NYSE:MSM) last issued its earnings results on Tuesday, November 1st. The company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $745.10 million for the quarter, compared to analysts’ expectations of $736.53 million. During the same period last year, the business earned $0.96 EPS. MSC Industrial Direct’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, analysts forecast that MSC Industrial Direct Co. will post $3.87 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 29th. Investors of record on Tuesday, November 15th will be given a $0.45 dividend. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.43. This represents a $1.80 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Friday, November 11th. MSC Industrial Direct’s dividend payout ratio is presently 47.87%.
MSM has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of MSC Industrial Direct from a “hold” rating to a “sell” rating in a report on Tuesday, September 20th. Macquarie assumed coverage on shares of 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. Credit Suisse Group AG assumed coverage on shares of 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. Stephens raised shares of MSC Industrial Direct from an “equal weight” rating to an “overweight” rating in a research report on Monday. Finally, Wells Fargo & Co. reaffirmed a “hold” rating on shares of MSC Industrial Direct in a research report on Sunday, September 4th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $76.25.
A number of large investors have recently added to or reduced their stakes in MSM. Evercore Wealth Management LLC raised its stake in MSC Industrial Direct by 6.1% in the second quarter. Evercore Wealth Management LLC now owns 1,433 shares of the company’s stock worth $101,000 after buying an additional 83 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new stake in MSC Industrial Direct during the second quarter worth approximately $103,000. Catalyst Capital Advisors LLC bought a new stake in MSC Industrial Direct during the third quarter worth approximately $103,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake 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 worth $118,000 after buying an additional 174 shares during the last quarter. Finally, Riverhead Capital Management LLC raised its stake 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 worth $142,000 after buying an additional 1,094 shares during the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.
MSC Industrial Direct Company Profile
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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