Revenue Update on MSC Industrial Direct Co Inc(NYSE:MSM)

MSC Industrial Direct Co Inc(NYSE:MSM) announced the earnings results for Fiscal Year 2016 and Q3. The results came in during Pre-market on Jul 6, 2016. Earnings per share were $1.05.

In a different note, On Jun 17, 2016, Credit Suisse said it Downgrades its rating on MSC Industrial Direct Co Inc. The shares have been rated ‘Underperform’ by the firm. On May 25, 2016, Barclays said it Downgrades its rating on MSC Industrial Direct Co Inc. The shares have been rated ‘Underweight’ by the firm.

MSC Industrial Direct Co Inc (MSM) shares turned negative on Mondays trading session with the shares closing down -0.2 points or -0.27% at a volume of 8,37,080. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $73.47. The peak price level was also seen at $73.47 while the days lowest was $72.66. Finally the shares closed at $72.67. The 52-week high of the shares is $78.35 while the 52-week low is $54.19. According to the latest information available, the market cap of the company is $4,466 M.

Several Insider Transactions has been reported to the SEC. On May 19, 2016, David Sandler (Executive Vice Chairman) sold 1,500 shares at $74.50 per share price.Also, 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.

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