MSC Industrial Direct CEO Sells $1,407,328 in Stock (MSM)
MSC Industrial Direct (NYSE:MSM) CEO Erik Gershwind sold 16,332 shares of MSC Industrial Direct stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $86.17, for a total value of $1,407,328.44. Following the transaction, the chief executive officer now directly owns 33,813 shares in the company, valued at approximately $2,913,666. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of MSC Industrial Direct (NYSE:MSM) traded up 0.71% on Wednesday, hitting $88.01. The stock had a trading volume of 631,626 shares. MSC Industrial Direct has a one year low of $74.15 and a one year high of $87.92. The stock has a 50-day moving average of $80.41 and a 200-day moving average of $79.68. The company has a market cap of $5.469 billion and a P/E ratio of 23.76.
MSC Industrial Direct (NYSE:MSM) last announced its earnings results 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. On average, analysts predict that MSC Industrial Direct will post $3.99 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, January 28th. Stockholders of record on Tuesday, January 14th will be paid a dividend of 0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Friday, January 10th.
A number of analysts have recently weighed in on MSM shares. Analysts at Jefferies Group upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating in a research note to investors on Tuesday. Separately, 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, January 9th. They now have an “equal weight” rating on the stock. Finally, 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, January 9th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. MSC Industrial Direct currently has an average rating of “Buy” and an average price target of $89.26.
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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