Insider Selling: MSC Industrial Direct Co., Inc. (NYSE:MSM) CEO Sells 50,000 Shares of Stock

MSC Industrial Direct Co., Inc. (NYSE:MSMGet Rating) CEO Erik Gershwind sold 50,000 shares of the firm’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $85.18, for a total transaction of $4,259,000.00. Following the completion of the transaction, the chief executive officer now directly owns 463,723 shares in the company, valued at approximately $39,499,925.14. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

MSC Industrial Direct Price Performance

Shares of MSM stock opened at $84.10 on Friday. The firm has a market cap of $4.70 billion, a P/E ratio of 13.86, a P/E/G ratio of 2.82 and a beta of 1.04. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.13 and a quick ratio of 1.14. MSC Industrial Direct Co., Inc. has a 1-year low of $71.32 and a 1-year high of $87.99. The firm has a fifty day moving average of $79.01 and a two-hundred day moving average of $79.63.

MSC Industrial Direct (NYSE:MSMGet Rating) last announced its quarterly earnings data on Thursday, October 20th. The industrial products company reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.02. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. MSC Industrial Direct had a net margin of 9.20% and a return on equity of 27.04%. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same period last year, the business earned $1.26 EPS. As a group, research analysts anticipate that MSC Industrial Direct Co., Inc. will post 6.07 earnings per share for the current fiscal year.

MSC Industrial Direct Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 29th. Shareholders of record on Tuesday, November 15th will be issued a dividend of $0.79 per share. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.75. This represents a $3.16 annualized dividend and a yield of 3.76%. The ex-dividend date is Monday, November 14th. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 52.06%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in shares of MSC Industrial Direct by 2.1% in the 3rd quarter. BlackRock Inc. now owns 5,792,145 shares of the industrial products company’s stock valued at $421,727,000 after buying an additional 121,696 shares during the period. Vanguard Group Inc. boosted its holdings in shares of MSC Industrial Direct by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 4,476,878 shares of the industrial products company’s stock valued at $325,962,000 after buying an additional 72,338 shares during the period. American Century Companies Inc. boosted its holdings in shares of MSC Industrial Direct by 11.7% in the 1st quarter. American Century Companies Inc. now owns 3,503,731 shares of the industrial products company’s stock valued at $298,553,000 after buying an additional 368,106 shares during the period. State Street Corp boosted its holdings in shares of MSC Industrial Direct by 4.9% in the 3rd quarter. State Street Corp now owns 1,322,821 shares of the industrial products company’s stock valued at $96,315,000 after buying an additional 61,335 shares during the period. Finally, First Trust Advisors LP boosted its holdings in shares of MSC Industrial Direct by 0.5% in the 1st quarter. First Trust Advisors LP now owns 1,023,981 shares of the industrial products company’s stock valued at $87,253,000 after buying an additional 5,411 shares during the period. 76.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MSM has been the topic of several analyst reports. StockNews.com initiated coverage on shares of MSC Industrial Direct in a research note on Wednesday, October 12th. They set a “buy” rating on the stock. Jefferies Financial Group reaffirmed a “hold” rating and set a $84.00 price target on shares of MSC Industrial Direct in a research note on Monday, October 17th. Finally, KeyCorp dropped their price target on shares of MSC Industrial Direct from $100.00 to $93.00 and set an “overweight” rating on the stock in a research note on Friday, October 14th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.00.

About MSC Industrial Direct

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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, and the United Kingdom. Its 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.

Further Reading

Insider Buying and Selling by Quarter for MSC Industrial Direct (NYSE:MSM)

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