Traders Sell Shares of MSC Industrial Direct Co. (MSM) on Strength Following Insider Selling
Traders sold shares of MSC Industrial Direct Co. (NYSE:MSM) on strength during trading on Wednesday following insider selling activity. $18.39 million flowed into the stock on the tick-up and $50.29 million flowed out of the stock on the tick-down, for a money net flow of $31.90 million out of the stock. Of all stocks tracked, MSC Industrial Direct had the 14th highest net out-flow for the day. MSC Industrial Direct traded up $1.55 for the day and closed at $88.54Specifically, SVP Christopher Davanzo sold 3,881 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $87.00, for a total transaction of $337,647.00. Following the transaction, the senior vice president now directly owns 10,386 shares of the company’s stock, valued at approximately $903,582. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Douglas E. Jones sold 4,517 shares of the business’s stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $73.01, for a total value of $329,786.17. Following the transaction, the executive vice president now directly owns 12,806 shares in the company, valued at $934,966.06. The disclosure for this sale can be found here. Corporate insiders own 31.75% of the company’s stock.
MSM has been the topic of a number of recent analyst reports. Credit Suisse Group AG initiated coverage on MSC Industrial Direct in a research report on Friday, August 19th. They issued an “underperform” rating and a $65.00 target price on the stock. Macquarie initiated coverage on MSC Industrial Direct in a research report on Thursday, August 25th. They issued a “neutral” rating and a $80.00 target price on the stock. Wells Fargo & Co. reaffirmed a “hold” rating on shares of MSC Industrial Direct in a research report on Sunday, September 4th. Zacks Investment Research lowered MSC Industrial Direct from a “hold” rating to a “sell” rating in a research report on Tuesday, September 20th. Finally, Stephens raised MSC Industrial Direct from an “equal weight” rating to an “overweight” rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $76.25.
The company has a 50-day moving average price of $75.89 and a 200 day moving average price of $73.67. The company has a market capitalization of $5.01 billion, a PE ratio of 23.48 and a beta of 0.45.
MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings data on Tuesday, November 1st. The company reported $1.02 EPS for the quarter, topping the Zacks’ 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 company earned $745.10 million during the quarter, compared to the consensus estimate of $736.53 million. During the same quarter last year, the company earned $0.96 EPS. The company’s quarterly revenue was up 2.4% on a year-over-year basis. Analysts anticipate that MSC Industrial Direct Co. will post $3.87 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 29th. Shareholders of record on Tuesday, November 15th will be given a $0.45 dividend. The ex-dividend date is Friday, November 11th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.03%. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.43. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 47.87%.
Hedge funds have recently made changes to their positions in the company. Evercore Wealth Management LLC increased its position 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 valued at $101,000 after buying an additional 83 shares during the period. O Shaughnessy Asset Management LLC bought a new position in MSC Industrial Direct during the second quarter valued at approximately $103,000. Catalyst Capital Advisors LLC bought a new position in MSC Industrial Direct during the third quarter valued at approximately $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 own 83.71% of the company’s stock.
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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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