MSC Industrial Direct CEO Erik Gershwind Sells 20,334 Shares (MSM)
MSC Industrial Direct (NYSE:MSM) CEO Erik Gershwind sold 20,334 shares of the stock on the open market in a transaction dated Friday, January 10th. The stock was sold at an average price of $85.17, for a total transaction of $1,731,846.78. Following the completion of the sale, the chief executive officer now directly owns 63,479 shares in the company, valued at approximately $5,406,506. The transaction was disclosed in a document filed with the SEC, which is available at this link.
MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings data on Wednesday, January 8th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.04. The company had revenue of $678.50 million for the quarter, compared to the consensus estimate of $673.54 million. During the same quarter in the previous year, the company posted $1.01 earnings per share. The company’s revenue for the quarter was up 17.5% on a year-over-year basis.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, January 28th. Investors of record on Tuesday, January 14th will be given a dividend of 0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Friday, January 10th.
A number of analysts have recently weighed in on MSM shares. Analysts at Barclays raised their price target on shares of MSC Industrial Direct from $78.00 to $83.00 in a research note to investors on Thursday. They now have an “equal weight” rating on the stock. Separately, analysts at Robert W. Baird raised their price target on shares of MSC Industrial Direct from $87.00 to $89.00 in a research note to investors on Thursday. Finally, analysts at BB&T Corp. raised their price target on shares of MSC Industrial Direct from $94.00 to $98.00 in a research note to investors on Thursday, January 2nd. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. MSC Industrial Direct has an average rating of “Hold” and an average target price of $89.08.
MSC Industrial Direct Co, Inc (NYSE:MSM) is direct marketers and distributors of a range of metalworking and maintenance, repair and operations (MRO) products to customers throughout the United States.
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