News articles about MSC Industrial Direct (NYSE:MSM) have been trending somewhat positive this week, Accern reports. The research group identifies negative and positive press coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. MSC Industrial Direct earned a news sentiment score of 0.13 on Accern’s scale. Accern also assigned media stories about the industrial products company an impact score of 45.6327530355492 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Here are some of the news articles that may have impacted Accern Sentiment’s rankings:
- MSC Industrial Direct (MSM) Now Covered by Analysts at Goldman Sachs (americanbankingnews.com)
- MSC Industrial Direct (MSM) Rating Lowered to Hold at Zacks Investment Research (americanbankingnews.com)
- MSC Industrial Direct (MSM) Upgraded at Zacks Investment Research (americanbankingnews.com)
- Gabelli Downgrades MSC Industrial Direct (MSM) to Hold (americanbankingnews.com)
- $767.83 Million in Sales Expected for MSC Industrial Direct Co Inc (MSM) This Quarter (americanbankingnews.com)
Shares of MSC Industrial Direct stock traded down $1.84 during mid-day trading on Monday, hitting $93.79. The company’s stock had a trading volume of 657,736 shares, compared to its average volume of 798,144. MSC Industrial Direct has a one year low of $65.42 and a one year high of $104.59. The stock has a market cap of $5,398.89, a P/E ratio of 22.65, a P/E/G ratio of 1.39 and a beta of 0.64. The company has a quick ratio of 1.04, a current ratio of 1.92 and a debt-to-equity ratio of 0.16.
MSC Industrial Direct announced that its board has authorized a share buyback plan on Wednesday, January 10th that allows the company to repurchase 2,000,000 outstanding shares. This repurchase authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
MSM has been the topic of several research analyst reports. TheStreet raised MSC Industrial Direct from a “c+” rating to a “b-” rating in a research report on Tuesday, November 28th. Stephens set a $114.00 target price on MSC Industrial Direct and gave the company a “buy” rating in a research note on Wednesday, January 10th. Zacks Investment Research upgraded MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a research note on Wednesday, January 10th. Credit Suisse Group set a $100.00 target price on MSC Industrial Direct and gave the company a “buy” rating in a research note on Monday, December 4th. Finally, Northcoast Research upgraded MSC Industrial Direct from a “neutral” rating to a “buy” rating in a research note on Friday, December 15th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $96.92.
In related news, SVP Steve Armstrong sold 19,162 shares of MSC Industrial Direct stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $94.98, for a total value of $1,820,006.76. Following the sale, the senior vice president now directly owns 13,432 shares in the company, valued at $1,275,771.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Mitchell Jacobson sold 362,753 shares of MSC Industrial Direct stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $94.09, for a total value of $34,131,429.77. Following the completion of the sale, the director now owns 90,000 shares in the company, valued at $8,468,100. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 783,437 shares of company stock worth $74,083,049. Company insiders own 31.38% of the company’s stock.
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About MSC Industrial Direct
MSC Industrial Direct Co, Inc is a North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. The Company’s range of MRO products 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.
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