MSC Industrial Direct (MSM) Scheduled to Post Quarterly Earnings on Thursday

MSC Industrial Direct (NYSE:MSMGet Free Report) is set to announce its earnings results before the market opens on Thursday, March 28th. Analysts expect the company to announce earnings of $1.16 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

MSC Industrial Direct (NYSE:MSMGet Free Report) last announced its quarterly earnings results on Tuesday, January 9th. The industrial products company reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.05). MSC Industrial Direct had a net margin of 8.27% and a return on equity of 23.46%. The firm had revenue of $954.00 million during the quarter, compared to analyst estimates of $971.31 million. During the same quarter in the prior year, the business earned $1.48 earnings per share. The business’s revenue was down .4% on a year-over-year basis. On average, analysts expect MSC Industrial Direct to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

MSC Industrial Direct Price Performance

NYSE MSM opened at $99.01 on Tuesday. The stock has a market cap of $5.58 billion, a price-to-earnings ratio of 16.84 and a beta of 0.96. MSC Industrial Direct has a 52-week low of $81.29 and a 52-week high of $105.77. The business has a 50 day simple moving average of $98.47 and a 200 day simple moving average of $98.29. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.89 and a current ratio of 2.02.

Wall Street Analyst Weigh In

Separately, KeyCorp cut their price target on MSC Industrial Direct from $105.00 to $102.00 and set an “overweight” rating for the company in a report on Wednesday, January 10th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, MSC Industrial Direct presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.00.

Check Out Our Latest Analysis on MSM

Insider Buying and Selling

In other MSC Industrial Direct news, CEO Erik Gershwind sold 7,500 shares of MSC Industrial Direct stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $96.00, for a total transaction of $720,000.00. Following the transaction, the chief executive officer now directly owns 1,432,038 shares of the company’s stock, valued at approximately $137,475,648. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Erik Gershwind sold 7,500 shares of the business’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $96.00, for a total value of $720,000.00. Following the sale, the chief executive officer now directly owns 1,432,038 shares in the company, valued at approximately $137,475,648. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mitchell Jacobson sold 18,746 shares of the company’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $97.63, for a total value of $1,830,171.98. Following the sale, the director now owns 1,846,027 shares in the company, valued at $180,227,616.01. The disclosure for this sale can be found here. Insiders have sold a total of 254,503 shares of company stock worth $24,841,663 in the last ninety days. Corporate insiders own 18.80% of the company’s stock.

Institutional Trading of MSC Industrial Direct

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of MSC Industrial Direct by 34.8% during the first quarter. BlackRock Inc. now owns 5,480,861 shares of the industrial products company’s stock valued at $467,024,000 after purchasing an additional 1,414,485 shares during the period. Norges Bank bought a new position in shares of MSC Industrial Direct during the fourth quarter valued at approximately $38,273,000. Balyasny Asset Management LLC bought a new position in shares of MSC Industrial Direct during the third quarter valued at approximately $14,719,000. Millennium Management LLC raised its holdings in shares of MSC Industrial Direct by 188.6% during the second quarter. Millennium Management LLC now owns 239,453 shares of the industrial products company’s stock valued at $17,985,000 after acquiring an additional 156,483 shares in the last quarter. Finally, Two Sigma Investments LP raised its holdings in shares of MSC Industrial Direct by 277.8% during the fourth quarter. Two Sigma Investments LP now owns 150,971 shares of the industrial products company’s stock valued at $12,334,000 after acquiring an additional 111,007 shares in the last quarter. Hedge funds and other institutional investors own 89.51% of the company’s stock.

MSC Industrial Direct Company Profile

(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.

See Also

Earnings History for MSC Industrial Direct (NYSE:MSM)

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