Key Points
- Director Mitchell Jacobson bought 22,870 shares on Nov. 18 at $84.96 ($1.94M), bringing his direct stake to 2,328,192 shares (~$197.8M) after multiple large Oct/Nov purchases.
- MSC beat Q3 expectations with EPS of $1.09 vs. $1.03 estimated and revenue of $978.2M, up 2.7% year-over-year.
- The company raised its quarterly dividend to $0.87 (annualized $3.48), a ~4.2% yield, though the dividend payout ratio is high at 97.75%.
MSC Industrial Direct Company, Inc. (NYSE:MSM - Get Free Report) Director Mitchell Jacobson acquired 22,870 shares of the business's stock in a transaction dated Tuesday, November 18th. The shares were bought at an average cost of $84.96 per share, for a total transaction of $1,943,035.20. Following the transaction, the director directly owned 2,328,192 shares in the company, valued at approximately $197,803,192.32. This represents a 0.99% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Mitchell Jacobson also recently made the following trade(s):
- On Monday, November 3rd, Mitchell Jacobson bought 51,954 shares of MSC Industrial Direct stock. The stock was purchased at an average cost of $84.43 per share, with a total value of $4,386,476.22.
- On Friday, October 31st, Mitchell Jacobson purchased 34,073 shares of MSC Industrial Direct stock. The shares were purchased at an average cost of $84.76 per share, for a total transaction of $2,888,027.48.
- On Thursday, October 30th, Mitchell Jacobson acquired 95,779 shares of MSC Industrial Direct stock. The stock was purchased at an average cost of $84.92 per share, with a total value of $8,133,552.68.
MSC Industrial Direct Trading Down 1.6%
NYSE MSM opened at $83.44 on Friday. MSC Industrial Direct Company, Inc. has a 52 week low of $68.10 and a 52 week high of $94.31. The business has a 50 day moving average price of $88.26 and a 200-day moving average price of $86.30. The company has a quick ratio of 0.80, a current ratio of 1.68 and a debt-to-equity ratio of 0.12. The company has a market cap of $4.66 billion, a price-to-earnings ratio of 23.44 and a beta of 0.98.
MSC Industrial Direct (NYSE:MSM - Get Free Report) last announced its quarterly earnings results on Thursday, October 23rd. The industrial products company reported $1.09 EPS for the quarter, beating analysts' consensus estimates of $1.03 by $0.06. MSC Industrial Direct had a net margin of 5.29% and a return on equity of 15.21%. The business had revenue of $978.18 million during the quarter, compared to analyst estimates of $964.03 million. During the same quarter in the previous year, the business posted $1.03 EPS. MSC Industrial Direct's quarterly revenue was up 2.7% on a year-over-year basis. As a group, equities analysts expect that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current fiscal year.
MSC Industrial Direct Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th will be issued a $0.87 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 4.2%. This is a boost from MSC Industrial Direct's previous quarterly dividend of $0.85. MSC Industrial Direct's dividend payout ratio (DPR) is currently 97.75%.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the business. Mackenzie Financial Corp raised its stake in shares of MSC Industrial Direct by 6,108.1% during the 1st quarter. Mackenzie Financial Corp now owns 505,960 shares of the industrial products company's stock worth $39,298,000 after purchasing an additional 497,810 shares during the period. Norges Bank purchased a new stake in MSC Industrial Direct during the second quarter worth about $39,950,000. Boston Partners increased its holdings in MSC Industrial Direct by 22.9% during the first quarter. Boston Partners now owns 1,762,248 shares of the industrial products company's stock worth $136,867,000 after buying an additional 327,833 shares during the last quarter. SG Capital Management LLC raised its position in MSC Industrial Direct by 867.0% in the third quarter. SG Capital Management LLC now owns 360,988 shares of the industrial products company's stock worth $33,261,000 after acquiring an additional 323,659 shares during the period. Finally, Auto Owners Insurance Co boosted its stake in MSC Industrial Direct by 1,118.9% in the second quarter. Auto Owners Insurance Co now owns 346,000 shares of the industrial products company's stock valued at $29,417,000 after acquiring an additional 317,613 shares during the last quarter. Institutional investors own 79.26% of the company's stock.
Analyst Ratings Changes
A number of analysts have commented on MSM shares. Wall Street Zen lowered MSC Industrial Direct from a "buy" rating to a "hold" rating in a report on Sunday, November 9th. Zacks Research upgraded MSC Industrial Direct from a "hold" rating to a "strong-buy" rating in a report on Tuesday, November 4th. Wolfe Research lowered MSC Industrial Direct from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price objective on shares of MSC Industrial Direct from $93.00 to $96.00 and gave the stock an "overweight" rating in a report on Friday, October 24th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of MSC Industrial Direct in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $91.50.
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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, 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.
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