MSC Industrial Direct (NYSE:MSM) Announces Earnings Results

MSC Industrial Direct (NYSE:MSM) posted its quarterly 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 business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. MSC Industrial Direct had a return on equity of 16.06% and a net margin of 5.42%.

MSC Industrial Direct Price Performance

NYSE:MSM opened at $118.88 on Wednesday. The business’s 50-day moving average is $109.61 and its 200 day moving average is $96.60. MSC Industrial Direct has a 12 month low of $78.80 and a 12 month high of $121.64. The company has a market capitalization of $6.64 billion, a P/E ratio of 31.96 and a beta of 0.84. The company has a current ratio of 1.73, a quick ratio of 0.78 and a debt-to-equity ratio of 0.14.

MSC Industrial Direct Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Weiss Ratings upgraded MSC Industrial Direct from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, June 23rd. DA Davidson initiated coverage on MSC Industrial Direct in a report on Tuesday, June 16th. They issued a “buy” rating and a $145.00 price target on the stock. Finally, KeyCorp upped their price target on MSC Industrial Direct from $117.00 to $120.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 2nd. Two investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, MSC Industrial Direct currently has an average rating of “Hold” and an average price target of $101.00.

Institutional Trading of MSC Industrial Direct

A number of large investors have recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. raised its holdings in shares of MSC Industrial Direct by 11.7% during the 4th 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 in the last quarter. Boston Partners raised its stake in MSC Industrial Direct by 2.1% during the third quarter. Boston Partners now owns 1,764,875 shares of the industrial products company’s stock valued at $162,605,000 after purchasing an additional 36,626 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in MSC Industrial Direct by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,342,935 shares of the industrial products company’s stock valued at $112,951,000 after purchasing an additional 20,503 shares in the last quarter. Invesco Ltd. lifted its position in MSC Industrial Direct by 1.0% during the fourth quarter. Invesco Ltd. now owns 1,258,793 shares of the industrial products company’s stock valued at $105,864,000 after purchasing an additional 12,138 shares during the last quarter. Finally, Epoch Investment Partners Inc. lifted its position in MSC Industrial Direct by 1.2% during the third quarter. Epoch Investment Partners Inc. now owns 1,014,655 shares of the industrial products company’s stock valued at $93,490,000 after purchasing an additional 11,912 shares during the last quarter. Institutional investors own 79.26% of the company’s stock.

About MSC Industrial Direct

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.