MSC Industrial Direct Co., Inc. (NYSE:MSM - Get Free Report) Director Mitchell Jacobson bought 27,642 shares of the business's stock in a transaction that occurred on Tuesday, April 8th. The stock was acquired at an average cost of $69.77 per share, for a total transaction of $1,928,582.34. Following the completion of the purchase, the director now directly owns 1,951,725 shares of the company's stock, valued at $136,171,853.25. The trade was a 1.44 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
MSC Industrial Direct Stock Performance
Shares of NYSE:MSM opened at $75.13 on Thursday. The firm has a market cap of $4.20 billion, a PE ratio of 17.93 and a beta of 0.89. The firm's 50 day simple moving average is $78.53 and its 200-day simple moving average is $80.94. MSC Industrial Direct Co., Inc. has a one year low of $68.10 and a one year high of $94.31. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 1.93.
MSC Industrial Direct (NYSE:MSM - Get Free Report) last released its quarterly earnings data on Thursday, April 3rd. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.68 by $0.04. MSC Industrial Direct had a net margin of 6.21% and a return on equity of 17.80%. The firm had revenue of $891.70 million for the quarter, compared to the consensus estimate of $908.30 million. During the same period last year, the firm earned $1.18 earnings per share. The company's quarterly revenue was down 4.7% on a year-over-year basis. As a group, equities analysts predict that MSC Industrial Direct Co., Inc. will post 3.57 EPS for the current year.
MSC Industrial Direct Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $3.40 annualized dividend and a yield of 4.53%. MSC Industrial Direct's dividend payout ratio (DPR) is 89.71%.
Institutional Investors Weigh In On MSC Industrial Direct
Several institutional investors have recently bought and sold shares of the company. American Century Companies Inc. lifted its stake in shares of MSC Industrial Direct by 6.0% during the fourth quarter. American Century Companies Inc. now owns 3,418,260 shares of the industrial products company's stock worth $255,310,000 after buying an additional 193,860 shares during the period. First Trust Advisors LP lifted its stake in shares of MSC Industrial Direct by 29.2% during the fourth quarter. First Trust Advisors LP now owns 1,987,455 shares of the industrial products company's stock worth $148,443,000 after buying an additional 448,708 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of MSC Industrial Direct by 8.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,693,256 shares of the industrial products company's stock worth $126,469,000 after buying an additional 126,218 shares during the period. Boston Partners lifted its stake in shares of MSC Industrial Direct by 7.2% during the fourth quarter. Boston Partners now owns 1,434,415 shares of the industrial products company's stock worth $107,168,000 after buying an additional 96,335 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of MSC Industrial Direct by 127.5% during the fourth quarter. Invesco Ltd. now owns 1,206,811 shares of the industrial products company's stock worth $90,137,000 after buying an additional 676,238 shares during the period. 79.26% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts have weighed in on the company. Loop Capital cut their price objective on MSC Industrial Direct from $83.00 to $74.00 and set a "hold" rating on the stock in a research report on Friday, April 4th. Wolfe Research initiated coverage on shares of MSC Industrial Direct in a report on Thursday, January 16th. They issued an "outperform" rating and a $95.00 price objective for the company. Finally, Robert W. Baird decreased their target price on shares of MSC Industrial Direct from $90.00 to $84.00 and set a "neutral" rating for the company in a research note on Friday, April 4th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $82.20.
Check Out Our Latest Stock Report on MSM
MSC Industrial Direct Company Profile
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Get Free Report)
MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products and services in the United States, Canada, Mexico, the United Kingdom, and internationally. The company's MRO products include 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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