MSC Industrial Direct (NYSE:MSM) Posts Earnings Results, Misses Expectations By $0.05 EPS

MSC Industrial Direct (NYSE:MSM) released its quarterly earnings results on Wednesday. The industrial products company reported $1.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.50 by ($0.05), Morningstar.com reports. The business had revenue of $866.50 million for the quarter, compared to the consensus estimate of $881.62 million. MSC Industrial Direct had a net margin of 8.79% and a return on equity of 21.08%. The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period last year, the firm posted $1.39 EPS. MSC Industrial Direct updated its Q4 2019 guidance to $1.21-1.27 EPS and its Q4 guidance to $1.21-1.27 EPS.

MSC Industrial Direct stock opened at $71.08 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.18 and a current ratio of 2.50. The firm has a market capitalization of $3.84 billion, a price-to-earnings ratio of 13.99, a price-to-earnings-growth ratio of 1.25 and a beta of 0.94. MSC Industrial Direct has a 1 year low of $67.25 and a 1 year high of $90.25. The business has a 50 day simple moving average of $72.40.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 6th. Shareholders of record on Tuesday, July 23rd will be given a $0.75 dividend. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Monday, July 22nd. This represents a $3.00 annualized dividend and a yield of 4.22%. MSC Industrial Direct’s payout ratio is 49.61%.

A number of research firms recently commented on MSM. Zacks Investment Research upgraded shares of SCHNEIDER ELEC /ADR from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Friday, July 5th. Gordon Haskett lowered shares of MSC Industrial Direct from a “buy” rating to a “hold” rating and set a $72.02 price objective on the stock. in a research note on Monday, June 10th. William Blair reiterated a “market perform” rating on shares of Luminex in a research note on Tuesday, May 7th. Raymond James reiterated a “hold” rating on shares of PrairieSky Royalty in a research note on Thursday. Finally, Northcoast Research reiterated a “buy” rating on shares of MSC Industrial Direct in a research note on Thursday, April 11th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $82.80.

In other MSC Industrial Direct news, EVP Steven N. Baruch sold 5,404 shares of MSC Industrial Direct stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $82.00, for a total transaction of $443,128.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Douglas E. Jones sold 2,126 shares of MSC Industrial Direct stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $83.50, for a total transaction of $177,521.00. Following the transaction, the executive vice president now owns 7,496 shares in the company, valued at $625,916. The disclosure for this sale can be found here. Insiders own 27.96% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. LPL Financial LLC grew its position in MSC Industrial Direct by 2.0% during the 4th quarter. LPL Financial LLC now owns 6,381 shares of the industrial products company’s stock worth $491,000 after purchasing an additional 128 shares in the last quarter. ETF Managers Group LLC grew its position in MSC Industrial Direct by 9.8% during the 1st quarter. ETF Managers Group LLC now owns 1,592 shares of the industrial products company’s stock worth $132,000 after purchasing an additional 142 shares in the last quarter. Lowe Brockenbrough & Co. Inc. grew its position in MSC Industrial Direct by 1.3% during the 1st quarter. Lowe Brockenbrough & Co. Inc. now owns 11,360 shares of the industrial products company’s stock worth $940,000 after purchasing an additional 147 shares in the last quarter. BOKF NA grew its position in MSC Industrial Direct by 3.1% during the 4th quarter. BOKF NA now owns 6,814 shares of the industrial products company’s stock worth $524,000 after purchasing an additional 204 shares in the last quarter. Finally, Mason Street Advisors LLC grew its position in MSC Industrial Direct by 0.9% during the 1st quarter. Mason Street Advisors LLC now owns 24,008 shares of the industrial products company’s stock worth $1,986,000 after purchasing an additional 224 shares in the last quarter. Hedge funds and other institutional investors own 76.11% of the company’s stock.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products in the United States, Canada, and the United Kingdom. The company's MRO products comprise cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock products, 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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Earnings History for MSC Industrial Direct (NYSE:MSM)

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