MSC Industrial Direct Co. (MSM) Expected to Post FY2018 Earnings of $4.20 Per Share
MSC Industrial Direct Co. (NYSE:MSM) – Equities research analysts at William Blair issued their FY2018 earnings per share estimates for shares of MSC Industrial Direct in a research report issued on Friday. William Blair analyst R. Merkel anticipates that the brokerage will post earnings per share of $4.20 for the year.
Other equities analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of MSC Industrial Direct from a “hold” rating to a “sell” rating in a research note on Tuesday, September 20th. Credit Suisse Group AG began coverage on shares of MSC Industrial Direct in a research note on Friday, August 19th. They issued an “underperform” rating and a $65.00 price objective for the company. Wells Fargo & Co. reissued a “hold” rating on shares of MSC Industrial Direct in a research note on Sunday, September 4th. BMO Capital Markets reissued a “market perform” rating and issued a $78.00 price objective (down from $80.00) on shares of MSC Industrial Direct in a research note on Thursday, July 7th. Finally, Barclays PLC lifted their price objective on shares of MSC Industrial Direct from $64.00 to $66.00 and gave the stock an “underweight” rating in a research note on Thursday, July 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $75.44.
Shares of MSC Industrial Direct (NYSE:MSM) opened at 74.91 on Monday. MSC Industrial Direct has a 1-year low of $54.19 and a 1-year high of $78.35. The company has a market capitalization of $4.60 billion, a P/E ratio of 20.20 and a beta of 0.70. The firm has a 50-day moving average of $73.03 and a 200 day moving average of $73.55.
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In related news, SVP Steve Armstrong sold 3,732 shares of MSC Industrial Direct stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $73.35, for a total transaction of $273,742.20. Following the completion of the sale, the senior vice president now owns 16,144 shares in the company, valued at approximately $1,184,162.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 31.75% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Willis Investment Counsel raised its stake in shares of MSC Industrial Direct by 3.1% in the first quarter. Willis Investment Counsel now owns 89,570 shares of the company’s stock worth $6,835,000 after buying an additional 2,730 shares during the last quarter. King Wealth Management Group LLC bought a new stake in shares of MSC Industrial Direct during the first quarter worth $229,000. Fiduciary Management Inc. WI raised its stake in shares of MSC Industrial Direct by 21.2% in the first quarter. Fiduciary Management Inc. WI now owns 1,394,710 shares of the company’s stock worth $106,430,000 after buying an additional 243,598 shares during the last quarter. M&T Bank Corp bought a new stake in shares of MSC Industrial Direct during the first quarter worth $363,000. Finally, Bessemer Group Inc. raised its stake in shares of MSC Industrial Direct by 0.6% in the first quarter. Bessemer Group Inc. now owns 11,283 shares of the company’s stock worth $861,000 after buying an additional 66 shares during the last quarter. Institutional investors own 78.44% of the company’s stock.
MSC Industrial Direct Company Profile
MSC Industrial Direct Co, Inc (MSC) is direct marketers and distributors of a range of metalworking and maintenance, repair and operations (MRO) products to customers throughout the United States. The Company operates primarily in the United States, with customers in all 50 states, through a network of five customer fulfillment centers (four customer fulfillment centers are located within the United States and one is located in the United Kingdom and 106 branch offices (104 branches are located within the United States, one is located in the United Kingdom and the other is located in Mexico).
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