MSC Industrial Direct Co Inc (NYSE:MSM) – Equities researchers at Northcoast Research lowered their Q1 2021 earnings per share estimates for shares of MSC Industrial Direct in a research report issued on Friday, July 10th. Northcoast Research analyst T. Hayes now forecasts that the industrial products company will earn $1.00 per share for the quarter, down from their prior estimate of $1.12. Northcoast Research also issued estimates for MSC Industrial Direct’s Q2 2021 earnings at $0.99 EPS.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings data on Wednesday, July 8th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.24. MSC Industrial Direct had a net margin of 8.07% and a return on equity of 19.58%. The business had revenue of $834.97 million during the quarter, compared to analyst estimates of $835.02 million.

MSM has been the subject of a number of other reports. Deutsche Bank cut their target price on shares of MSC Industrial Direct from $79.00 to $76.00 and set a “hold” rating for the company in a report on Thursday, July 9th. TheStreet raised shares of MSC Industrial Direct from a “c+” rating to a “b-” rating in a report on Tuesday, June 16th. Wells Fargo & Co raised their target price on shares of MSC Industrial Direct from $50.00 to $60.00 in a report on Thursday, July 9th. KeyCorp raised their target price on shares of MSC Industrial Direct from $75.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. Finally, JPMorgan Chase & Co. raised their target price on shares of MSC Industrial Direct from $64.00 to $74.00 and gave the company a “neutral” rating in a report on Tuesday, June 23rd. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $72.13.

MSM stock opened at $64.89 on Monday. The firm has a fifty day moving average price of $70.72 and a 200 day moving average price of $66.11. MSC Industrial Direct has a fifty-two week low of $44.93 and a fifty-two week high of $79.87. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.66 and a current ratio of 2.63. The firm has a market cap of $3.58 billion, a PE ratio of 13.58 and a beta of 1.00.

Large investors have recently added to or reduced their stakes in the company. AlphaCrest Capital Management LLC bought a new stake in shares of MSC Industrial Direct during the first quarter worth $268,000. AQR Capital Management LLC raised its holdings in shares of MSC Industrial Direct by 77.2% in the first quarter. AQR Capital Management LLC now owns 262,894 shares of the industrial products company’s stock valued at $14,451,000 after acquiring an additional 114,528 shares in the last quarter. Advisor Group Inc. raised its holdings in shares of MSC Industrial Direct by 46.5% in the fourth quarter. Advisor Group Inc. now owns 5,117 shares of the industrial products company’s stock valued at $402,000 after acquiring an additional 1,625 shares in the last quarter. Vident Investment Advisory LLC bought a new stake in shares of MSC Industrial Direct in the first quarter valued at about $591,000. Finally, Wellington Management Group LLP raised its holdings in shares of MSC Industrial Direct by 512.1% in the first quarter. Wellington Management Group LLP now owns 22,671 shares of the industrial products company’s stock valued at $1,246,000 after acquiring an additional 18,967 shares in the last quarter. Institutional investors and hedge funds own 72.98% of the company’s stock.

In other news, SVP Edward F. Martin, Jr. sold 653 shares of MSC Industrial Direct stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $64.79, for a total transaction of $42,307.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Douglas E. Jones sold 3,697 shares of MSC Industrial Direct stock in a transaction on Friday, May 15th. The stock was sold at an average price of $60.00, for a total value of $221,820.00. The disclosure for this sale can be found here. 28.75% of the stock is owned by insiders.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Tuesday, July 14th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 4.62%. The ex-dividend date of this dividend is Monday, July 13th. MSC Industrial Direct’s payout ratio is 56.71%.

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 and Estimates for MSC Industrial Direct (NYSE:MSM)

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