MSC Industrial Direct Co Inc (NYSE:MSM) – KeyCorp cut their Q2 2019 EPS estimates for MSC Industrial Direct in a research report issued on Wednesday, January 9th. KeyCorp analyst S. Barger now anticipates that the industrial products company will earn $1.27 per share for the quarter, down from their previous estimate of $1.43. KeyCorp also issued estimates for MSC Industrial Direct’s Q3 2019 earnings at $1.61 EPS, Q4 2019 earnings at $1.58 EPS, FY2019 earnings at $5.80 EPS and FY2020 earnings at $6.20 EPS.
MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings results on Wednesday, January 9th. The industrial products company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.32 by $0.01. MSC Industrial Direct had a net margin of 10.53% and a return on equity of 21.97%. The firm had revenue of $831.60 million for the quarter, compared to analysts’ expectations of $830.60 million. During the same period in the previous year, the firm posted $1.05 EPS. The company’s revenue for the quarter was up 8.2% on a year-over-year basis.
MSM has been the topic of several other reports. Gordon Haskett initiated coverage on shares of MSC Industrial Direct in a research report on Friday, October 12th. They set a “buy” rating on the stock. Zacks Investment Research upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $97.00 price objective on the stock in a research note on Wednesday, September 26th. Buckingham Research started coverage on shares of MSC Industrial Direct in a research note on Friday, October 12th. They set a “neutral” rating and a $89.00 price objective on the stock. Jefferies Financial Group started coverage on shares of MSC Industrial Direct in a research note on Monday. They set a “buy” rating and a $92.00 price objective on the stock. Finally, Wells Fargo & Co lowered their price objective on shares of MSC Industrial Direct from $87.00 to $85.00 and set a “market perform” rating on the stock in a research note on Friday, December 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $98.42.
Shares of NYSE:MSM opened at $78.64 on Friday. The company has a current ratio of 2.37, a quick ratio of 1.28 and a debt-to-equity ratio of 0.23. MSC Industrial Direct has a one year low of $73.28 and a one year high of $99.74. The stock has a market cap of $4.29 billion, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 1.04 and a beta of 0.77.
Large investors have recently made changes to their positions in the business. Macquarie Group Ltd. acquired a new position in shares of MSC Industrial Direct during the 2nd quarter worth approximately $110,000. Twin Tree Management LP acquired a new position in shares of MSC Industrial Direct during the 3rd quarter worth approximately $126,000. Nomura Holdings Inc. acquired a new position in shares of MSC Industrial Direct during the 2nd quarter worth approximately $219,000. Cerebellum GP LLC grew its position in shares of MSC Industrial Direct by 37.6% during the 4th quarter. Cerebellum GP LLC now owns 2,760 shares of the industrial products company’s stock worth $212,000 after purchasing an additional 754 shares in the last quarter. Finally, AMP Capital Investors Ltd acquired a new position in shares of MSC Industrial Direct during the 2nd quarter worth approximately $331,000. Hedge funds and other institutional investors own 75.87% of the company’s stock.
In other MSC Industrial Direct news, CFO Rustom Jilla sold 2,500 shares of the stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $87.50, for a total transaction of $218,750.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP David Wright sold 5,404 shares of the stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $89.00, for a total transaction of $480,956.00. The disclosure for this sale can be found here. 27.96% of the stock is currently owned by corporate insiders.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 22nd. Investors of record on Tuesday, January 8th will be paid a $0.63 dividend. The ex-dividend date is Monday, January 7th. This represents a $2.52 dividend on an annualized basis and a yield of 3.20%. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 49.61%.
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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