Investors Sell MSC Industrial Direct Co. (MSM) on Strength on Insider Selling
Investors sold shares of MSC Industrial Direct Co. (NYSE:MSM) on strength during trading on Thursday after an insider sold shares in the company. $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 companies tracked, MSC Industrial Direct had the 0th highest net out-flow for the day. MSC Industrial Direct traded up $1.55 for the day and closed at $88.54Specifically, VP Charles Bonomo sold 4,042 shares of MSC Industrial Direct stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $84.00, for a total transaction of $339,528.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Douglas E. Jones sold 4,517 shares of MSC Industrial Direct stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $73.01, for a total value of $329,786.17. Following the transaction, the executive vice president now owns 12,806 shares in the company, valued at $934,966.06. The disclosure for this sale can be found here. Insiders own 31.75% of the company’s stock.
Several brokerages have recently issued reports on MSM. Wells Fargo & Co. reiterated a “hold” rating on shares of MSC Industrial Direct in a research report on Sunday, September 4th. Credit Suisse Group AG started coverage on MSC Industrial Direct in a research note on Friday, August 19th. They set an “underperform” rating and a $65.00 price objective for the company. Stephens raised MSC Industrial Direct from an “equal weight” rating to an “overweight” rating and set a $102.00 price objective for the company in a research note on Monday. Macquarie started coverage on MSC Industrial Direct in a research note 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 note on Tuesday, October 4th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $79.11.
The company has a 50 day moving average of $76.32 and a 200 day moving average of $73.78. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of 23.48 and a beta of 0.45.
MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data on Tuesday, November 1st. The company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.04. MSC Industrial Direct had a net margin of 8.07% and a return on equity of 17.62%. The firm earned $745.10 million during the quarter, compared to analysts’ expectations of $736.53 million. During the same quarter in the previous year, the company posted $0.96 EPS. MSC Industrial Direct’s revenue was up 2.4% on a year-over-year basis. Equities analysts expect that MSC Industrial Direct Co. will post $3.87 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 29th. Shareholders of record on Tuesday, November 15th will be given a dividend of $0.45 per share. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, November 11th. This represents a $1.80 annualized dividend and a dividend yield of 2.03%. MSC Industrial Direct’s payout ratio is presently 47.87%.
Several hedge funds have recently modified their holdings of the stock. Catalyst Capital Advisors LLC acquired a new stake in shares of MSC Industrial Direct during the third quarter valued at approximately $103,000. Evercore Wealth Management LLC boosted 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 during the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in shares of MSC Industrial Direct during the second quarter valued at approximately $103,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of 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 last quarter. Finally, Riverhead Capital Management LLC boosted its stake in shares of 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 last quarter. Institutional investors own 83.71% of the company’s stock.
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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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