MSC Industrial Direct Co., Inc. (NYSE:MSM) – Analysts at Jefferies Financial Group lowered their Q3 2021 EPS estimates for shares of MSC Industrial Direct in a research report issued to clients and investors on Wednesday, April 7th. Jefferies Financial Group analyst H. Mazari now forecasts that the industrial products company will post earnings of $1.39 per share for the quarter, down from their prior estimate of $1.44. Jefferies Financial Group also issued estimates for MSC Industrial Direct’s Q2 2023 earnings at $1.28 EPS.
MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings results on Tuesday, April 6th. The industrial products company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.01. The business had revenue of $774.00 million for the quarter, compared to the consensus estimate of $778.77 million. MSC Industrial Direct had a net margin of 7.14% and a return on equity of 20.42%. MSC Industrial Direct’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period last year, the company posted $1.00 EPS.
Shares of NYSE:MSM opened at $88.13 on Monday. The company has a market capitalization of $4.92 billion, a price-to-earnings ratio of 21.87 and a beta of 0.99. The firm’s 50 day simple moving average is $88.53 and its 200 day simple moving average is $81.32. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.23 and a quick ratio of 1.22. MSC Industrial Direct has a fifty-two week low of $56.16 and a fifty-two week high of $93.92.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue grew its stake in MSC Industrial Direct by 151.3% in the first quarter. State of Alaska Department of Revenue now owns 18,684 shares of the industrial products company’s stock valued at $1,684,000 after purchasing an additional 11,248 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of MSC Industrial Direct by 11.7% in the first quarter. Pacer Advisors Inc. now owns 13,868 shares of the industrial products company’s stock valued at $1,251,000 after buying an additional 1,448 shares in the last quarter. Norges Bank acquired a new position in MSC Industrial Direct during the fourth quarter worth $49,169,000. UBS Asset Management Americas Inc. raised its position in MSC Industrial Direct by 13.6% during the fourth quarter. UBS Asset Management Americas Inc. now owns 103,959 shares of the industrial products company’s stock worth $8,773,000 after acquiring an additional 12,434 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of MSC Industrial Direct by 6.7% in the 4th quarter. Principal Financial Group Inc. now owns 210,946 shares of the industrial products company’s stock valued at $17,802,000 after acquiring an additional 13,192 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.
In other MSC Industrial Direct news, Director Mitchell Jacobson purchased 67,796 shares of the business’s stock in a transaction on Friday, January 29th. The shares were purchased at an average cost of $78.04 per share, with a total value of $5,290,799.84. Following the transaction, the director now directly owns 67,796 shares of the company’s stock, valued at approximately $5,290,799.84. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Edward F. Martin, Jr. sold 871 shares of the stock in a transaction dated Thursday, January 21st. The stock was sold at an average price of $81.64, for a total transaction of $71,108.44. The disclosure for this sale can be found here. Insiders have sold a total of 99,562 shares of company stock worth $8,660,531 over the last 90 days. Corporate insiders own 28.44% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 27th. Shareholders of record on Tuesday, April 13th will be issued a dividend of $0.75 per share. The ex-dividend date is Monday, April 12th. This represents a $3.00 annualized dividend and a yield of 3.40%. MSC Industrial Direct’s dividend payout ratio (DPR) is currently 63.29%.
About MSC Industrial Direct
MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products in the United States, Canada, Mexico, and the United Kingdom. Its MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock products, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components, and electrical supplies.
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