Insider Selling: MSC Industrial Direct Co Inc (MSM) VP Sells 1,800 Shares of Stock

MSC Industrial Direct Co Inc (NYSE:MSM) VP Charles Bonomo sold 1,800 shares of the company’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $92.19, for a total transaction of $165,942.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Shares of MSC Industrial Direct Co Inc (NYSE:MSM) traded up $2.32 during mid-day trading on Friday, hitting $94.49. 906,679 shares of the stock were exchanged, compared to its average volume of 987,269. MSC Industrial Direct Co Inc has a 52 week low of $65.42 and a 52 week high of $105.70. The firm has a market cap of $5,250.00, a PE ratio of 22.77, a price-to-earnings-growth ratio of 1.34 and a beta of 0.67. The company has a current ratio of 1.92, a quick ratio of 1.04 and a debt-to-equity ratio of 0.16.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings data on Wednesday, January 10th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.01). MSC Industrial Direct had a net margin of 7.97% and a return on equity of 19.37%. The business had revenue of $768.60 million during the quarter, compared to analyst estimates of $770.95 million. During the same quarter in the prior year, the company posted $0.95 EPS. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. research analysts forecast that MSC Industrial Direct Co Inc will post 5 EPS for the current year.

MSC Industrial Direct declared that its Board of Directors has initiated a share repurchase plan on Wednesday, January 10th that allows the company to repurchase 2,000,000 shares. This repurchase authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 30th. Stockholders of record on Tuesday, January 16th will be paid a $0.58 dividend. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, January 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.46%. MSC Industrial Direct’s dividend payout ratio is currently 55.90%.

Several hedge funds have recently made changes to their positions in MSM. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of MSC Industrial Direct by 8.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,539 shares of the industrial products company’s stock valued at $132,000 after buying an additional 123 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of MSC Industrial Direct by 0.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,577 shares of the industrial products company’s stock worth $136,000 after purchasing an additional 8 shares during the last quarter. Cutler Group LP grew its holdings in shares of MSC Industrial Direct by 457.8% in the 4th quarter. Cutler Group LP now owns 1,431 shares of the industrial products company’s stock worth $138,000 after purchasing an additional 1,831 shares during the last quarter. QS Investors LLC grew its holdings in shares of MSC Industrial Direct by 0.5% in the 2nd quarter. QS Investors LLC now owns 1,749 shares of the industrial products company’s stock worth $150,000 after purchasing an additional 8 shares during the last quarter. Finally, Zions Bancorporation bought a new stake in shares of MSC Industrial Direct in the 3rd quarter worth about $150,000. Institutional investors own 75.53% of the company’s stock.

MSM has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $81.00 target price for the company in a research note on Thursday, September 21st. Susquehanna Bancshares initiated coverage on shares of MSC Industrial Direct in a research note on Monday, September 25th. They set a “neutral” rating and a $77.00 target price for the company. Credit Suisse Group set a $93.00 target price on shares of MSC Industrial Direct and gave the company a “buy” rating in a research note on Friday, October 6th. BMO Capital Markets reiterated a “market perform” rating and set a $83.00 target price (up from $79.00) on shares of MSC Industrial Direct in a research note on Monday, October 9th. Finally, Gabelli upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a research note on Friday, October 13th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. MSC Industrial Direct presently has a consensus rating of “Hold” and an average price target of $95.54.

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About MSC Industrial Direct

MSC Industrial Direct Co, Inc is a North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. The Company’s range of MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components and electrical supplies.

Insider Buying and Selling by Quarter for MSC Industrial Direct (NYSE:MSM)

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