MSC Industrial Direct Co., Inc. (NYSE:MSM) CEO Erik Gershwind Sells 50,000 Shares

MSC Industrial Direct Co., Inc. (NYSE:MSMGet Rating) CEO Erik Gershwind sold 50,000 shares of the business’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $85.18, for a total value of $4,259,000.00. Following the completion of the transaction, the chief executive officer now directly owns 463,723 shares in the company, valued at approximately $39,499,925.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

MSC Industrial Direct Trading Down 1.6 %

NYSE:MSM opened at $84.10 on Thursday. MSC Industrial Direct Co., Inc. has a 1-year low of $71.32 and a 1-year high of $87.99. The business’s 50-day moving average price is $78.86 and its two-hundred day moving average price is $79.60. The company has a current ratio of 2.13, a quick ratio of 1.14 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $4.70 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 2.82 and a beta of 1.04.

MSC Industrial Direct (NYSE:MSMGet Rating) last released its earnings results on Thursday, October 20th. The industrial products company reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.02. MSC Industrial Direct had a return on equity of 27.04% and a net margin of 9.20%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1 billion. During the same quarter in the prior year, the firm posted $1.26 earnings per share. The company’s quarterly revenue was up 23.0% on a year-over-year basis. On average, equities analysts expect that MSC Industrial Direct Co., Inc. will post 6.07 earnings per share for the current year.

MSC Industrial Direct Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 29th. Shareholders of record on Tuesday, November 15th will be paid a $0.79 dividend. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Monday, November 14th. This represents a $3.16 annualized dividend and a yield of 3.76%. MSC Industrial Direct’s dividend payout ratio is presently 52.06%.

Hedge Funds Weigh In On MSC Industrial Direct

Hedge funds have recently added to or reduced their stakes in the stock. Mutual of America Capital Management LLC increased its holdings in shares of MSC Industrial Direct by 2.6% in the first quarter. Mutual of America Capital Management LLC now owns 42,986 shares of the industrial products company’s stock worth $3,663,000 after acquiring an additional 1,106 shares in the last quarter. Green Square Capital Advisors LLC increased its holdings in shares of MSC Industrial Direct by 5.9% in the first quarter. Green Square Capital Advisors LLC now owns 21,894 shares of the industrial products company’s stock worth $1,866,000 after acquiring an additional 1,217 shares in the last quarter. New York State Common Retirement Fund increased its holdings in shares of MSC Industrial Direct by 0.3% in the first quarter. New York State Common Retirement Fund now owns 103,024 shares of the industrial products company’s stock worth $8,779,000 after acquiring an additional 352 shares in the last quarter. Capital Advisors Inc. OK increased its holdings in shares of MSC Industrial Direct by 5.6% in the first quarter. Capital Advisors Inc. OK now owns 246,095 shares of the industrial products company’s stock worth $20,970,000 after acquiring an additional 13,129 shares in the last quarter. Finally, Aigen Investment Management LP bought a new stake in shares of MSC Industrial Direct in the first quarter worth about $650,000. Institutional investors and hedge funds own 76.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. KeyCorp reduced their price objective on MSC Industrial Direct from $100.00 to $93.00 and set an “overweight” rating on the stock in a research note on Friday, October 14th. Jefferies Financial Group reaffirmed a “hold” rating and set a $84.00 price target on shares of MSC Industrial Direct in a research note on Monday, October 17th. Finally, StockNews.com started coverage on MSC Industrial Direct in a research note on Wednesday, October 12th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, MSC Industrial Direct has an average rating of “Moderate Buy” and a consensus price target of $94.00.

MSC Industrial Direct Company Profile

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MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products and services 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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Insider Buying and Selling by Quarter for MSC Industrial Direct (NYSE:MSM)

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