MSC Industrial Direct Co., Inc. (NYSE:MSM – Get Rating) – Loop Capital boosted their FY2022 earnings estimates for shares of MSC Industrial Direct in a report issued on Thursday, September 29th. Loop Capital analyst C. Dankert now expects that the industrial products company will post earnings per share of $6.22 for the year, up from their previous estimate of $6.21. The consensus estimate for MSC Industrial Direct’s current full-year earnings is $6.14 per share. Loop Capital also issued estimates for MSC Industrial Direct’s Q4 2022 earnings at $1.86 EPS, Q2 2023 earnings at $1.28 EPS, Q3 2023 earnings at $1.73 EPS, Q4 2023 earnings at $1.71 EPS, FY2023 earnings at $6.20 EPS, Q1 2024 earnings at $1.54 EPS, Q2 2024 earnings at $1.35 EPS, Q3 2024 earnings at $1.80 EPS, Q4 2024 earnings at $1.81 EPS and FY2024 earnings at $6.50 EPS.
Several other research analysts have also recently issued reports on the company. Stephens dropped their price target on MSC Industrial Direct to $100.00 in a report on Monday, July 4th. Robert W. Baird reduced their target price on MSC Industrial Direct from $105.00 to $100.00 and set an “outperform” rating for the company in a report on Thursday, June 30th. Finally, William Blair cut MSC Industrial Direct from an “outperform” rating to a “market perform” rating in a research note on Wednesday, June 29th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, MSC Industrial Direct currently has a consensus rating of “Moderate Buy” and an average price target of $98.25.
MSC Industrial Direct Price Performance
NYSE:MSM opened at $72.81 on Monday. The company has a quick ratio of 1.27, a current ratio of 2.37 and a debt-to-equity ratio of 0.41. The business’s 50-day moving average price is $80.01 and its 200 day moving average price is $80.50. MSC Industrial Direct has a 52-week low of $71.32 and a 52-week high of $87.99. The firm has a market cap of $4.08 billion, a P/E ratio of 13.51, a PEG ratio of 2.34 and a beta of 1.04.
Hedge Funds Weigh In On MSC Industrial Direct
Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its position in MSC Industrial Direct by 34.8% in the 1st quarter. BlackRock Inc. now owns 5,480,861 shares of the industrial products company’s stock valued at $467,024,000 after purchasing an additional 1,414,485 shares during the last quarter. American Century Companies Inc. raised its stake in shares of MSC Industrial Direct by 11.7% in the first quarter. American Century Companies Inc. now owns 3,503,731 shares of the industrial products company’s stock worth $298,553,000 after acquiring an additional 368,106 shares during the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in shares of MSC Industrial Direct during the second quarter worth approximately $21,594,000. 59 North Capital Management LP bought a new stake in shares of MSC Industrial Direct during the first quarter valued at approximately $23,130,000. Finally, Boston Trust Walden Corp bought a new position in MSC Industrial Direct in the 2nd quarter worth approximately $17,267,000. Institutional investors own 76.00% of the company’s stock.
Insider Transactions at MSC Industrial Direct
In related news, EVP Steven N. Baruch sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $82.27, for a total transaction of $617,025.00. Following the transaction, the executive vice president now owns 12,641 shares of the company’s stock, valued at $1,039,975.07. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Steven N. Baruch sold 7,500 shares of the company’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $82.27, for a total transaction of $617,025.00. Following the completion of the sale, the executive vice president now owns 12,641 shares in the company, valued at approximately $1,039,975.07. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mitchell Jacobson bought 200,000 shares of the stock in a transaction that occurred on Wednesday, July 13th. The stock was purchased at an average price of $72.25 per share, for a total transaction of $14,450,000.00. Following the completion of the purchase, the director now directly owns 272,450 shares in the company, valued at approximately $19,684,512.50. The disclosure for this purchase can be found here. Insiders sold 32,358 shares of company stock valued at $2,702,323 in the last three months. Corporate insiders own 28.28% of the company’s stock.
About MSC Industrial Direct
MSC Industrial Direct Co, Inc engages in the distribution of metalworking and maintenance, repair, and operations products and services to manufacturing companies. Its products include cutting tools, measuring instruments, tooling components, metalworking, fasteners, flat stock, 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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