Mitchell Jacobson Buys 22,870 Shares of MSC Industrial Direct (NYSE:MSM) Stock

MSC Industrial Direct Company, Inc. (NYSE:MSM) Director Mitchell Jacobson purchased 22,870 shares of the company’s stock in a transaction on Tuesday, November 18th. The stock was acquired at an average price of $84.96 per share, with a total value of $1,943,035.20. Following the purchase, the director owned 2,328,192 shares of the company’s stock, valued at approximately $197,803,192.32. This represents a 0.99% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible 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 bought at an average price 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 stock was bought 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 bought at an average price of $84.92 per share, with a total value of $8,133,552.68.

MSC Industrial Direct Stock Down 1.6%

Shares of MSC Industrial Direct stock traded down $1.32 on Thursday, reaching $83.44. 468,184 shares of the company were exchanged, compared to its average volume of 594,698. The stock’s 50 day moving average price is $88.44 and its 200-day moving average price is $86.32. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.68 and a quick ratio of 0.80. MSC Industrial Direct Company, Inc. has a 1-year low of $68.10 and a 1-year high of $94.31. The company has a market cap of $4.66 billion, a P/E ratio of 23.44 and a beta of 0.98.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings results on Thursday, October 23rd. The industrial products company reported $1.09 EPS for the quarter, topping the consensus estimate 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 company had revenue of $978.18 million during the quarter, compared to analysts’ expectations of $964.03 million. During the same quarter in the previous year, the business posted $1.03 EPS. The firm’s revenue was up 2.7% on a year-over-year basis. As a group, equities analysts forecast that MSC Industrial Direct Company, Inc. will post 3.57 EPS for the current year.

MSC Industrial Direct Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th will be issued a dividend of $0.87 per share. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $3.48 dividend on an annualized basis and a yield of 4.2%. MSC Industrial Direct’s dividend payout ratio (DPR) is presently 97.75%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Wolfe Research downgraded MSC Industrial Direct from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price target on MSC Industrial Direct from $93.00 to $96.00 and gave the company an “overweight” rating in a report on Friday, October 24th. Wall Street Zen cut shares of MSC Industrial Direct from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Zacks Research upgraded shares of MSC Industrial Direct from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of MSC Industrial Direct in a research report on Friday, October 31st. One research 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $91.50.

Hedge Funds Weigh In On MSC Industrial Direct

A number of hedge funds have recently modified their holdings of the business. Clearstead Trust LLC acquired a new stake in MSC Industrial Direct during the 1st quarter worth $25,000. Investment Management Corp VA ADV raised its holdings in shares of MSC Industrial Direct by 207.8% in the first quarter. Investment Management Corp VA ADV now owns 397 shares of the industrial products company’s stock valued at $31,000 after buying an additional 268 shares during the last quarter. Quent Capital LLC acquired a new stake in shares of MSC Industrial Direct during the third quarter worth about $31,000. Neo Ivy Capital Management purchased a new position in shares of MSC Industrial Direct during the first quarter worth about $32,000. Finally, Hantz Financial Services Inc. increased its position in MSC Industrial Direct by 257.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 361 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 260 shares during the period. 79.26% of the stock is currently owned by hedge funds and other institutional investors.

MSC Industrial Direct Company Profile

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.