MSC Industrial Direct Co., Inc. (NYSE:MSM) Director Purchases $1,928,582.34 in Stock

MSC Industrial Direct Co., Inc. (NYSE:MSM) Director Mitchell Jacobson purchased 27,642 shares of the company’s stock in a transaction on Tuesday, April 8th. The stock was acquired at an average price of $69.77 per share, with a total value of $1,928,582.34. Following the purchase, the director now owns 1,951,725 shares of the company’s stock, valued at approximately $136,171,853.25. This represents a 1.44 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

MSC Industrial Direct Trading Up 0.9 %

NYSE:MSM opened at $75.86 on Friday. MSC Industrial Direct Co., Inc. has a 1 year low of $68.10 and a 1 year high of $94.31. The stock has a market cap of $4.24 billion, a P/E ratio of 18.11 and a beta of 0.89. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 1.93. The stock has a 50-day simple moving average of $78.46 and a 200-day simple moving average of $80.87.

MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings results on Thursday, April 3rd. The industrial products company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. The company had revenue of $891.70 million for the quarter, compared to analyst estimates of $908.30 million. MSC Industrial Direct had a net margin of 6.21% and a return on equity of 17.80%. The firm’s revenue was down 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.18 earnings per share. As a group, analysts anticipate that MSC Industrial Direct Co., Inc. will post 3.57 earnings per share for the current fiscal year.

MSC Industrial Direct Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be paid a dividend of $0.85 per share. The ex-dividend date is Wednesday, April 9th. This represents a $3.40 annualized dividend and a yield of 4.48%. MSC Industrial Direct’s dividend payout ratio is currently 89.71%.

Wall Street Analyst Weigh In

MSM has been the subject of a number of recent research reports. Wolfe Research assumed coverage on MSC Industrial Direct in a report on Thursday, January 16th. They issued an “outperform” rating and a $95.00 target price for the company. Loop Capital lowered their price objective on MSC Industrial Direct from $83.00 to $74.00 and set a “hold” rating for the company in a research report on Friday, April 4th. Finally, Robert W. Baird reduced their target price on shares of MSC Industrial Direct from $90.00 to $84.00 and set a “neutral” rating on the stock in a report on Friday, April 4th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $82.20.

Hedge Funds Weigh In On MSC Industrial Direct

Several large investors have recently bought and sold shares of the stock. HighTower Advisors LLC increased its position in shares of MSC Industrial Direct by 2.8% during the third quarter. HighTower Advisors LLC now owns 46,507 shares of the industrial products company’s stock worth $4,003,000 after purchasing an additional 1,254 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of MSC Industrial Direct by 1.5% in the third quarter. Public Employees Retirement System of Ohio now owns 74,936 shares of the industrial products company’s stock valued at $6,449,000 after acquiring an additional 1,132 shares during the period. Barclays PLC grew its position in shares of MSC Industrial Direct by 36.9% during the third quarter. Barclays PLC now owns 25,490 shares of the industrial products company’s stock worth $2,195,000 after acquiring an additional 6,864 shares during the last quarter. M&T Bank Corp increased its holdings in shares of MSC Industrial Direct by 4.9% in the 3rd quarter. M&T Bank Corp now owns 3,761 shares of the industrial products company’s stock valued at $324,000 after acquiring an additional 176 shares during the period. Finally, Disciplined Growth Investors Inc. MN raised its position in MSC Industrial Direct by 5.8% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 641,779 shares of the industrial products company’s stock valued at $55,232,000 after purchasing an additional 35,077 shares during the last quarter. Institutional investors and hedge funds own 79.26% of the company’s stock.

MSC Industrial Direct Company Profile

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, the United Kingdom, and internationally. The company's 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.