Insider Selling: MSC Industrial Direct Company, Inc. (MSM) Director Sells 13,582 Shares of Stock
MSC Industrial Direct Company, Inc. (NYSE:MSM) Director Mitchell Jacobson sold 13,582 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $81.91, for a total value of $1,112,501.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Mitchell Jacobson also recently made the following trade(s):
- On Thursday, November 2nd, Mitchell Jacobson sold 33,866 shares of MSC Industrial Direct stock. The stock was sold at an average price of $82.39, for a total value of $2,790,219.74.
Shares of MSC Industrial Direct Company, Inc. (MSM) traded down $0.20 on Tuesday, reaching $81.71. The company had a trading volume of 331,192 shares, compared to its average volume of 577,072. The company has a market cap of $4,610.00, a P/E ratio of 20.29, a PEG ratio of 1.61 and a beta of 0.64. MSC Industrial Direct Company, Inc. has a 52 week low of $65.42 and a 52 week high of $105.70. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.80 and a quick ratio of 0.97.
MSC Industrial Direct (NYSE:MSM) last issued its earnings results on Tuesday, October 31st. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.08. The company had revenue of $753.80 million for the quarter, compared to the consensus estimate of $745.80 million. MSC Industrial Direct had a return on equity of 19.42% and a net margin of 8.01%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the company earned $1.02 EPS. equities research analysts predict that MSC Industrial Direct Company, Inc. will post 4.44 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 28th. Shareholders of record on Tuesday, November 14th will be paid a $0.48 dividend. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Monday, November 13th. This represents a $1.92 dividend on an annualized basis and a yield of 2.35%. MSC Industrial Direct’s payout ratio is presently 44.55%.
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Large investors have recently added to or reduced their stakes in the business. Westpac Banking Corp increased its stake in MSC Industrial Direct by 14.8% in the 3rd quarter. Westpac Banking Corp now owns 79,800 shares of the industrial products company’s stock worth $6,030,000 after acquiring an additional 10,300 shares during the last quarter. Alpha Windward LLC bought a new stake in MSC Industrial Direct in the 3rd quarter worth approximately $521,000. Brookstone Capital Management bought a new stake in MSC Industrial Direct in the 2nd quarter worth approximately $281,000. Alliancebernstein L.P. increased its stake in MSC Industrial Direct by 267.2% in the 2nd quarter. Alliancebernstein L.P. now owns 1,441,259 shares of the industrial products company’s stock worth $123,891,000 after acquiring an additional 1,048,714 shares during the last quarter. Finally, Oak Ridge Investments LLC increased its stake in MSC Industrial Direct by 37.8% in the 2nd quarter. Oak Ridge Investments LLC now owns 14,710 shares of the industrial products company’s stock worth $1,264,000 after acquiring an additional 4,035 shares during the last quarter. 74.12% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently commented on MSM. BMO Capital Markets raised their price objective on MSC Industrial Direct from $83.00 to $92.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 1st. Wells Fargo & Company set a $86.00 price objective on MSC Industrial Direct and gave the stock a “hold” rating in a research note on Wednesday, November 1st. Stifel Nicolaus reaffirmed a “hold” rating and issued a $84.00 price objective on shares of MSC Industrial Direct in a research note on Friday. Credit Suisse Group set a $93.00 price objective on MSC Industrial Direct and gave the stock a “buy” rating in a research note on Friday, October 6th. Finally, Gabelli raised MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a research note on Friday, October 13th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $89.29.
MSC Industrial Direct Company Profile
MSC Industrial Direct Co, Inc is a North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. The Company’s range of MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components and electrical supplies.
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