Northcoast Research Analysts Raise Earnings Estimates for MSC Industrial Direct Co Inc (MSM)
MSC Industrial Direct Co Inc (NYSE:MSM) – Equities researchers at Northcoast Research increased their Q3 2018 EPS estimates for MSC Industrial Direct in a report issued on Thursday. Northcoast Research analyst R. Cieslak now forecasts that the industrial products company will earn $1.46 per share for the quarter, up from their prior estimate of $1.28. Northcoast Research has a “Buy” rating on the stock. Northcoast Research also issued estimates for MSC Industrial Direct’s Q4 2018 earnings at $1.39 EPS.
MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings results on Wednesday, January 10th. The industrial products company reported $1.05 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.01). The firm had revenue of $768.60 million for the quarter, compared to the consensus estimate of $770.95 million. MSC Industrial Direct had a return on equity of 19.37% and a net margin of 7.97%. The firm’s revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.95 EPS.
MSC Industrial Direct (NYSE MSM) traded up $0.18 during trading on Friday, hitting $94.75. 691,098 shares of the stock traded hands, compared to its average volume of 583,102. The company has a market capitalization of $5,365.60, a price-to-earnings ratio of 22.89, a P/E/G ratio of 1.82 and a beta of 0.67. The company has a quick ratio of 0.97, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. MSC Industrial Direct has a fifty-two week low of $65.42 and a fifty-two week high of $105.70.
Large investors have recently bought and sold shares of the company. Westpac Banking Corp boosted its position in shares of MSC Industrial Direct by 14.8% during the 3rd quarter. Westpac Banking Corp now owns 79,800 shares of the industrial products company’s stock valued at $6,030,000 after purchasing an additional 10,300 shares in the last quarter. Alpha Windward LLC purchased a new stake in MSC Industrial Direct during the third quarter valued at about $521,000. Janus Henderson Group PLC purchased a new stake in MSC Industrial Direct during the second quarter valued at about $12,989,000. CIBC World Markets Inc. purchased a new stake in MSC Industrial Direct during the second quarter valued at about $1,199,000. Finally, Dimensional Fund Advisors LP lifted its stake in MSC Industrial Direct by 10.7% during the second quarter. Dimensional Fund Advisors LP now owns 467,125 shares of the industrial products company’s stock valued at $40,153,000 after buying an additional 45,196 shares in the last quarter. Institutional investors own 75.55% of the company’s stock.
In other news, EVP Steven N. Baruch sold 5,762 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $81.25, for a total transaction of $468,162.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Christopher Davanzo sold 12,046 shares of the firm’s stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $93.43, for a total transaction of $1,125,457.78. Following the transaction, the senior vice president now owns 12,432 shares of the company’s stock, valued at approximately $1,161,521.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 237,587 shares of company stock valued at $19,390,269. Insiders own 31.28% of the company’s stock.
MSC Industrial Direct announced that its board has approved a share repurchase plan on Wednesday, January 10th that permits the company to buyback 2,000,000 shares. This buyback authorization permits the industrial products company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 30th. Stockholders of record on Tuesday, January 16th will be given a dividend of $0.58 per share. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, January 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.45%. MSC Industrial Direct’s dividend payout ratio (DPR) is 46.38%.
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About MSC Industrial Direct
MSC Industrial Direct Co, Inc is a North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. The Company’s range of MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, 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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