MSC Industrial Direct (NYSE:MSM) Issues Quarterly Earnings Results, Beats Estimates By $0.16 EPS

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

MSC Industrial Direct Stock Up 1.9%

Shares of MSM opened at $118.88 on Wednesday. MSC Industrial Direct has a 52-week low of $78.80 and a 52-week high of $121.64. The company has a quick ratio of 0.78, a current ratio of 1.73 and a debt-to-equity ratio of 0.14. The stock has a fifty day simple moving average of $109.61 and a two-hundred day simple moving average of $96.60. The company has a market capitalization of $6.64 billion, a PE ratio of 31.96 and a beta of 0.84.

MSC Industrial Direct Announces Dividend

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

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On MSC Industrial Direct

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Invesco Ltd. boosted its holdings in MSC Industrial Direct by 1.0% in the 4th 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. Corient Private Wealth LLC raised its position in shares of MSC Industrial Direct by 3,393.6% during 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 lifted its holdings in 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 valued at $923,000 after acquiring an additional 4,827 shares during the last quarter. Mackenzie Financial Corp grew its position in 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 during the period. Finally, Fuller & Thaler Asset Management Inc. grew its position in MSC Industrial Direct by 11.7% in 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. 79.26% of the stock is currently owned by institutional investors and hedge funds.

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.