MSC Industrial Direct Co Inc (NYSE:MSM) – Analysts at Northcoast Research lifted their Q3 2018 earnings estimates for shares of MSC Industrial Direct in a report released on Thursday. Northcoast Research analyst R. Cieslak now forecasts that the industrial products company will post earnings per share of $1.46 for the quarter, up from their prior forecast of $1.28. Northcoast Research currently has a “Buy” rating on the stock. Northcoast Research also issued estimates for MSC Industrial Direct’s Q4 2018 earnings at $1.39 EPS.
MSC Industrial Direct (NYSE:MSM) last released its earnings results on Wednesday, January 10th. The industrial products company reported $1.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.06 by ($0.01). The firm had revenue of $768.60 million during the quarter, compared to the consensus estimate of $770.95 million. MSC Industrial Direct had a return on equity of 19.37% and a net margin of 7.97%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.95 EPS.
A number of other analysts also recently weighed in on MSM. KeyCorp restated a “hold” rating on shares of MSC Industrial Direct in a research report on Sunday, September 17th. Zacks Investment Research upgraded MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $81.00 target price for the company in a research report on Thursday, September 21st. Susquehanna Bancshares initiated coverage on MSC Industrial Direct in a research report on Monday, September 25th. They issued a “neutral” rating and a $77.00 target price for the company. Credit Suisse Group set a $93.00 target price on MSC Industrial Direct and gave the stock a “buy” rating in a research report on Friday, October 6th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $83.00 price target (up from $79.00) on shares of MSC Industrial Direct in a research note on Monday, October 9th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $95.54.
Shares of MSC Industrial Direct (NYSE:MSM) opened at $94.75 on Friday. The firm has a market capitalization of $5,365.60, a P/E ratio of 22.89, a P/E/G ratio of 1.82 and a beta of 0.67. MSC Industrial Direct has a 12-month low of $65.42 and a 12-month high of $105.70. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 0.97.
MSC Industrial Direct declared that its board has initiated a stock buyback plan on Wednesday, January 10th that allows the company to buyback 2,000,000 outstanding shares. This buyback authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 30th. Shareholders of record on Tuesday, January 16th will be paid a $0.58 dividend. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.48. This represents a $2.32 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend is Friday, January 12th. MSC Industrial Direct’s payout ratio is 46.38%.
In other news, Director Mitchell Jacobson sold 33,866 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $82.39, for a total transaction of $2,790,219.74. Following the transaction, the director now directly owns 35,932 shares of the company’s stock, valued at $2,960,437.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Christopher Davanzo sold 12,046 shares of the business’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $93.43, for a total value of $1,125,457.78. Following the transaction, the senior vice president now directly owns 12,432 shares in the company, valued at $1,161,521.76. The disclosure for this sale can be found here. Insiders sold a total of 237,587 shares of company stock worth $19,390,269 over the last ninety days. Insiders own 31.28% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of MSC Industrial Direct by 5.1% during the third quarter. JPMorgan Chase & Co. now owns 3,284,345 shares of the industrial products company’s stock valued at $246,031,000 after buying an additional 159,772 shares during the period. American Century Companies Inc. increased its stake in shares of MSC Industrial Direct by 1,889.6% during the third quarter. American Century Companies Inc. now owns 2,099,225 shares of the industrial products company’s stock valued at $158,638,000 after buying an additional 1,993,717 shares during the period. State Street Corp increased its stake in shares of MSC Industrial Direct by 1.6% during the second quarter. State Street Corp now owns 1,222,773 shares of the industrial products company’s stock valued at $105,113,000 after buying an additional 19,302 shares during the period. Bank of New York Mellon Corp increased its stake in shares of MSC Industrial Direct by 105.3% during the third quarter. Bank of New York Mellon Corp now owns 1,179,178 shares of the industrial products company’s stock valued at $89,112,000 after buying an additional 604,873 shares during the period. Finally, Schroder Investment Management Group increased its stake in shares of MSC Industrial Direct by 52.7% during the third quarter. Schroder Investment Management Group now owns 964,486 shares of the industrial products company’s stock valued at $72,250,000 after buying an additional 332,893 shares during the period. 75.55% of the stock is currently owned by hedge funds and other institutional investors.
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About MSC Industrial Direct
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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