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

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MSC Industrial Direct (NYSE:MSM) posted its quarterly earnings results on Wednesday. The industrial products company reported $1.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.50 by ($0.05), Morningstar.com reports. MSC Industrial Direct had a return on equity of 21.08% and a net margin of 8.79%. The company had revenue of $866.50 million for the quarter, compared to analyst estimates of $881.62 million. During the same period last year, the company earned $1.39 earnings per share. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. MSC Industrial Direct updated its Q4 2019 guidance to $1.21-1.27 EPS and its Q4 guidance to $1.21-1.27 EPS.

Shares of NYSE MSM opened at $72.55 on Friday. The firm has a market cap of $3.92 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 1.32 and a beta of 0.94. MSC Industrial Direct has a 52 week low of $67.25 and a 52 week high of $90.25. The company has a 50-day simple moving average of $72.39. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.18 and a current ratio of 2.50.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 6th. Investors of record on Tuesday, July 23rd will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 4.14%. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Monday, July 22nd. MSC Industrial Direct’s dividend payout ratio is presently 49.61%.

A number of equities analysts have recently weighed in on the stock. William Blair reaffirmed a “market perform” rating on shares of Luminex in a research note on Tuesday, May 7th. Stephens assumed coverage on shares of Itron in a research note on Monday, July 8th. They issued an “equal weight” rating and a $64.00 price objective on the stock. Raymond James reissued a “hold” rating on shares of PrairieSky Royalty in a research note on Thursday. Northcoast Research cut shares of MSC Industrial Direct from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $89.00 to $74.00 in a research note on Friday. Finally, ValuEngine raised shares of VESTAS WIND SYS/ADR from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. MSC Industrial Direct presently has an average rating of “Hold” and an average price target of $80.70.

In related news, EVP Douglas E. Jones sold 2,126 shares of the stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $83.50, for a total value of $177,521.00. Following the sale, the executive vice president now directly owns 7,496 shares of the company’s stock, valued at approximately $625,916. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Steven N. Baruch sold 5,404 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $82.00, for a total transaction of $443,128.00. The disclosure for this sale can be found here. 27.96% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in MSM. Investors Research Corp acquired a new stake in shares of MSC Industrial Direct during the 1st quarter worth about $25,000. Quadrant Capital Group LLC boosted its stake in shares of MSC Industrial Direct by 1,212.1% during the 1st quarter. Quadrant Capital Group LLC now owns 761 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 703 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of MSC Industrial Direct by 25.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,151 shares of the industrial products company’s stock worth $89,000 after purchasing an additional 231 shares during the last quarter. NumerixS Investment Technologies Inc boosted its stake in shares of MSC Industrial Direct by 71.4% during the 1st quarter. NumerixS Investment Technologies Inc now owns 1,200 shares of the industrial products company’s stock worth $98,000 after purchasing an additional 500 shares during the last quarter. Finally, ETF Managers Group LLC boosted its stake in shares of MSC Industrial Direct by 9.8% during the 1st quarter. ETF Managers Group LLC now owns 1,592 shares of the industrial products company’s stock worth $132,000 after purchasing an additional 142 shares during the last quarter. 76.11% of the stock is currently owned by institutional investors.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products in the United States, Canada, and the United Kingdom. The company's MRO products comprise 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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Earnings History for MSC Industrial Direct (NYSE:MSM)

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