Steve Armstrong Sells 7,100 Shares of MSC Industrial Direct Co Inc (MSM) Stock

MSC Industrial Direct Co Inc (NYSE:MSM) SVP Steve Armstrong sold 7,100 shares of MSC Industrial Direct stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $94.04, for a total value of $667,684.00. Following the completion of the transaction, the senior vice president now directly owns 18,851 shares in the company, valued at $1,772,748.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Steve Armstrong also recently made the following trade(s):

  • On Tuesday, January 16th, Steve Armstrong sold 19,162 shares of MSC Industrial Direct stock. The stock was sold at an average price of $94.98, for a total value of $1,820,006.76.

MSC Industrial Direct Co Inc (NYSE MSM) traded up $0.81 on Tuesday, hitting $94.81. The stock had a trading volume of 756,557 shares, compared to its average volume of 963,680. The company has a market capitalization of $5,334.53, a PE ratio of 22.90, a PEG ratio of 1.39 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 Co Inc has a 1-year low of $65.42 and a 1-year high of $105.70.

MSC Industrial Direct (NYSE:MSM) last released 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). The firm had revenue of $768.60 million for the quarter, compared to the consensus estimate of $770.95 million. MSC Industrial Direct had a net margin of 7.97% and a return on equity of 19.37%. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.95 earnings per share. analysts anticipate that MSC Industrial Direct Co Inc will post 5 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 30th. Stockholders of record on Tuesday, January 16th will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Friday, January 12th. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.48. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.45%. MSC Industrial Direct’s payout ratio is currently 56.04%.

MSC Industrial Direct announced that its board has initiated a share repurchase plan on Wednesday, January 10th that permits the company to buyback 2,000,000 outstanding shares. This buyback authorization permits the industrial products company to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

MSM has been the topic of several recent analyst reports. Susquehanna Bancshares initiated coverage on MSC Industrial Direct in a research report on Monday, September 25th. They issued a “neutral” rating and a $77.00 price target on the stock. Zacks Investment Research raised MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a research report on Wednesday, September 27th. Credit Suisse Group set a $93.00 price target on MSC Industrial Direct and gave the stock a “buy” rating in a research report on Friday, October 6th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $83.00 price target (up from $79.00) on shares of MSC Industrial Direct in a research report on Monday, October 9th. Finally, Gabelli raised MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research report on Friday, October 13th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $95.54.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cerebellum GP LLC bought a new stake in shares of MSC Industrial Direct during the fourth quarter valued at approximately $127,000. Rice Hall James & Associates LLC increased its position in shares of MSC Industrial Direct by 20.4% during the fourth quarter. Rice Hall James & Associates LLC now owns 156,294 shares of the industrial products company’s stock valued at $15,107,000 after purchasing an additional 26,487 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of MSC Industrial Direct during the fourth quarter valued at approximately $298,000. Schwab Charles Investment Management Inc. increased its position in shares of MSC Industrial Direct by 4.8% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 233,134 shares of the industrial products company’s stock valued at $22,535,000 after purchasing an additional 10,585 shares during the period. Finally, Cutler Group LP increased its position in shares of MSC Industrial Direct by 457.8% during the fourth quarter. Cutler Group LP now owns 1,431 shares of the industrial products company’s stock valued at $138,000 after purchasing an additional 1,831 shares during the period. Institutional investors and hedge funds own 75.51% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Steve Armstrong Sells 7,100 Shares of MSC Industrial Direct Co Inc (MSM) Stock” was originally posted by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another domain, it was illegally stolen and reposted in violation of international copyright & trademark law. The original version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/01/23/steve-armstrong-sells-7100-shares-of-msc-industrial-direct-co-inc-msm-stock.html.

MSC Industrial Direct Company Profile

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)

Receive News & Ratings for MSC Industrial Direct Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MSC Industrial Direct and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply