MSC Industrial Direct Co Inc (MSM) reported quarterly earnings results on Wednesday, Jul-6-2016. The company said it had a profit of $1.05 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $1.00. The company posted revenue of $727.50 million in the period, compared to analysts expectations of $733.92 million. The company’s revenue was down -2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS.
Many Wall Street Analysts have commented on MSC Industrial Direct Co Inc. MSC Industrial Direct Co Inc was Downgraded by Credit Suisse to ” Underperform” on Jun 17, 2016. Barclays Downgraded MSC Industrial Direct Co Inc on May 25, 2016 to ” Underweight”, Price Target of the shares are set at $64.
MSC Industrial Direct Co Inc opened for trading at $70.42 and hit $71.52 on the upside on Friday, eventually ending the session at $71.36, with a gain of 1.13% or 0.8 points. The heightened volatility saw the trading volume jump to 4,06,176 shares. Company has a market cap of $4,380 M.
Investors should note that on Jun 23, 2016, MSC Industrial Direct Co Inc announced a cash dividend of $0.4300. The company’s management has announced Jul 8, 2016 as the ex-dividend date and fixed the record date on Jul 12, 2016. The payable date has been fixed on Jul 26, 2016.
In a different news, on May 19, 2016, David Sandler (Executive Vice Chairman) sold 1,500 shares at $74.50 per share price. According to the SEC, on Apr 29, 2016, Christopher Davanzo (SVP, Finance and Controller) sold 2,106 shares at $76.74 per share price. On Apr 27, 2016, Steve Armstrong (SVP, GC and Corp. Secy.) sold 3,732 shares at $76.50 per share price, according to the Form-4 filing with the securities and exchange commission.
MSC Industrial Direct Co. Inc. (MSC) is direct marketers and distributors of a range of metalworking and maintenance repair and operations (MRO) products to customers throughout the United States. The Company operates primarily in the United States with customers in all 50 states through a network of five customer fulfillment centers (four customer fulfillment centers are located within the United States and one is located in the United Kingdom and 106 branch offices (104 branches are located within the United States one is located in the United Kingdom and the other is located in Mexico). Its products represent a range of MRO products that include cutting tools; measuring instruments; tooling components; metalworking products; 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.