MSC Industrial Direct (NYSE:MSM) Issues Quarterly Earnings Results


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MSC Industrial Direct (NYSE:MSM) announced its quarterly earnings results on Tuesday. The industrial products company reported $1.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.01, MarketWatch Earnings reports. The company had revenue of $774.00 million during the quarter, compared to analyst estimates of $778.77 million. MSC Industrial Direct had a return on equity of 20.42% and a net margin of 7.14%. The firm’s revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.00 earnings per share.

Shares of MSM opened at $86.65 on Thursday. The company has a market capitalization of $4.84 billion, a P/E ratio of 21.50 and a beta of 0.99. MSC Industrial Direct has a one year low of $56.16 and a one year high of $93.92. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.22 and a current ratio of 2.23. The stock has a 50-day moving average price of $88.03 and a 200 day moving average price of $80.50.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 27th. Investors of record on Tuesday, April 13th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Monday, April 12th. MSC Industrial Direct’s dividend payout ratio is currently 63.29%.

In other MSC Industrial Direct news, SVP Kari D. Heerdt sold 28,934 shares of the stock in a transaction that occurred on Thursday, March 11th. The stock was sold at an average price of $90.00, for a total transaction of $2,604,060.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Edward F. Martin, Jr. sold 871 shares of the stock in a transaction that occurred on Thursday, January 21st. The stock was sold at an average price of $81.64, for a total value of $71,108.44. The disclosure for this sale can be found here. Insiders sold 81,339 shares of company stock valued at $7,019,914 in the last three months. 28.44% of the stock is currently owned by company insiders.

MSM has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on MSC Industrial Direct from $90.00 to $89.00 and set a “hold” rating for the company in a research note on Monday. William Blair upgraded MSC Industrial Direct from a “market perform” rating to an “outperform” rating in a research note on Wednesday. Wells Fargo & Company upgraded MSC Industrial Direct from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $90.00 to $105.00 in a research note on Thursday. Finally, Zacks Investment Research lowered MSC Industrial Direct from a “hold” rating to a “sell” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $85.00.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products 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.

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Earnings History for MSC Industrial Direct (NYSE:MSM)

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