MSC Industrial Direct (NYSE:MSM) Announces Earnings Results

MSC Industrial Direct (NYSE:MSM) posted its earnings results on Wednesday. The industrial products company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.16, FiscalAI reports. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. MSC Industrial Direct had a net margin of 5.42% and a return on equity of 16.06%.

MSC Industrial Direct Stock Up 1.9%

Shares of NYSE:MSM opened at $118.88 on Wednesday. The firm has a market capitalization of $6.64 billion, a PE ratio of 31.96 and a beta of 0.84. MSC Industrial Direct has a 1 year low of $78.80 and a 1 year high of $121.64. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.73 and a quick ratio of 0.78. The firm’s 50-day moving average is $109.61 and its two-hundred day moving average is $96.60.

MSC Industrial Direct Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th will be paid a dividend of $0.87 per share. The ex-dividend date is Wednesday, July 8th. This represents a $3.48 dividend on an annualized basis and a yield of 2.9%. MSC Industrial Direct’s dividend payout ratio is 93.55%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MSM. Invesco Ltd. increased its stake in MSC Industrial Direct by 1.0% during the 4th quarter. Invesco Ltd. now owns 1,258,793 shares of the industrial products company’s stock worth $105,864,000 after buying an additional 12,138 shares during the period. Corient Private Wealth LLC boosted its position in MSC Industrial Direct by 3,393.6% in the 4th quarter. Corient Private Wealth LLC now owns 275,432 shares of the industrial products company’s stock valued at $23,164,000 after buying an additional 267,548 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in shares of MSC Industrial Direct by 78.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 10,976 shares of the industrial products company’s stock worth $923,000 after acquiring an additional 4,827 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of MSC Industrial Direct by 13.9% in the fourth quarter. Mackenzie Financial Corp now owns 582,445 shares of the industrial products company’s stock worth $50,102,000 after acquiring an additional 71,109 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its position in shares of MSC Industrial Direct by 11.7% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,796,316 shares of the industrial products company’s stock worth $151,070,000 after acquiring an additional 187,440 shares during the period. Institutional investors and hedge funds own 79.26% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on MSM. DA Davidson began coverage on shares of MSC Industrial Direct in a research report on Tuesday, June 16th. They set a “buy” rating and a $145.00 price target for the company. Weiss Ratings raised shares of MSC Industrial Direct from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, June 23rd. Finally, KeyCorp lifted their target price on shares of MSC Industrial Direct from $117.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, June 2nd. Two investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $101.00.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc (NYSE: MSM) is a leading distributor of metalworking and maintenance, repair and operations (MRO) products serving a broad range of industrial customers across North America. The company offers an extensive portfolio of cutting tools, abrasives, measuring and inspection instruments, fasteners, safety supplies and other essential components used in manufacturing, metalworking and production environments. MSC delivers products through a multi-channel distribution network, including an extensive branch system, e-commerce platform and dedicated sales force.

In addition to its core product offerings, MSC Industrial Direct provides value-added services designed to improve productivity and reduce downtime for its customers.