MSC Industrial Direct (NYSE:MSM) Issues Earnings Results, Beats Estimates By $0.05 EPS

MSC Industrial Direct (NYSE:MSM - Get Free Report) released its quarterly earnings data on Tuesday. The industrial products company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.03 by $0.05, RTT News reports. The firm had revenue of $971.15 million for the quarter, compared to the consensus estimate of $969.72 million. MSC Industrial Direct had a return on equity of 14.99% and a net margin of 5.30%. The company's quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.33 earnings per share.

MSC Industrial Direct Trading Up 0.4%

MSC Industrial Direct stock traded up $0.36 during mid-day trading on Friday, reaching $89.97. 706,491 shares of the company traded hands, compared to its average volume of 619,471. The firm's 50 day moving average price is $81.07 and its 200 day moving average price is $79.49. MSC Industrial Direct has a 52-week low of $68.10 and a 52-week high of $90.85. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.92 and a quick ratio of 0.88. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of 25.42 and a beta of 0.87.

MSC Industrial Direct Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend is Wednesday, July 9th. MSC Industrial Direct's dividend payout ratio (DPR) is currently 89.71%.

Insider Buying and Selling at MSC Industrial Direct

In related news, Director Mitchell Jacobson purchased 27,642 shares of MSC Industrial Direct stock in a transaction that occurred on Tuesday, April 8th. The shares were bought at an average price of $69.77 per share, for a total transaction of $1,928,582.34. Following the completion of the transaction, the director directly owned 1,951,725 shares of the company's stock, valued at $136,171,853.25. This represents a 1.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 18.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Empowered Funds LLC bought a new stake in shares of MSC Industrial Direct during the first quarter valued at approximately $816,000. United Services Automobile Association purchased a new position in MSC Industrial Direct during the first quarter valued at $229,000. NewEdge Advisors LLC boosted its holdings in shares of MSC Industrial Direct by 79.9% during the 1st quarter. NewEdge Advisors LLC now owns 750 shares of the industrial products company's stock valued at $58,000 after buying an additional 333 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of MSC Industrial Direct in the 1st quarter worth about $455,000. Finally, Royal Bank of Canada increased its stake in shares of MSC Industrial Direct by 4.8% in the 1st quarter. Royal Bank of Canada now owns 46,990 shares of the industrial products company's stock worth $3,650,000 after acquiring an additional 2,164 shares in the last quarter. Hedge funds and other institutional investors own 79.26% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Robert W. Baird boosted their price objective on MSC Industrial Direct from $84.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday. Industrial Alliance Securities set a $89.00 price target on shares of MSC Industrial Direct in a report on Tuesday, May 27th. JPMorgan Chase & Co. raised shares of MSC Industrial Direct from a "neutral" rating to an "overweight" rating and increased their price target for the company from $73.00 to $89.00 in a research report on Tuesday, May 27th. Stephens boosted their price objective on shares of MSC Industrial Direct from $85.00 to $90.00 and gave the company an "equal weight" rating in a research report on Wednesday. Finally, Wolfe Research upgraded shares of MSC Industrial Direct to a "strong-buy" rating in a report on Sunday, April 6th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $90.33.

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.