Get Stock Quote Here MSC Industrial Direct Co., Inc (MSM), through its subsidiaries, primarily, MSC Industrial Supply Co., is one of the largest industrial equipment distributors in the world. MSC is most famous for publishing "The Big Book", a catalog totaling over 3,000 pages detailing the company's products, which currently number almost 600,000. MSC was founded in 1941 as "Sid Tool, Inc.", by Sidney Jacobson, in New York's Little Italy. It originally sold cutting tools and accessories to New York City machine shops. The company later moved its headquarters to Plainview, NY, in 1970 Manhattan Supply Company was acquired and in 1998, moved to its current headquarters in Melville, New York. The company currently operates from four regional distribution centers and 95 branch offices. On June 8, 2006, MSC completed the acquisition of J & L America, Inc., DBA, J & L Industrial Supply (J & L), a subsidiary ofKennametal for $349.5 million. In 2013 the company opened its co-headquarters office in Davidson, North Carolina which is located in the Charlotte, North Carolinametropolitan area. The company has expanded to 750 employees at the co-headquarters, with 120 employees making the move to the Carolinas from the Melville office.
MSC Industrial Direct (MSM) Stock Closed Down on Q2 Revenue Miss NEW YORK (TheStreet) -- Shares of MSC Industrial Direct Co. (MSM) closed lower by 1.57% to $73.17 on heavy trading volume Wednesday, following the release of the company's 2016 fiscal second quarter results. Before today's market open, the Melville, NY-based distributor of industrial tools and supplies reported adjusted earnings of 80 cents per diluted share, topping analysts' estimates of 78 cents per share. Revenue declined by 3.2% to $684.1 million year-over-year and was below Wall Street's expectations of $686.7 million. "The market environment during our fiscal second quarter remained challenging, consistent with continued low levels of demand in the industrial economy and particularly in metalworking and heavy manufacturing," CEO Erik Gershwind said in a statement. For the third quarter, MSC Industrial expects revenue between $729 million and $741 million, missing analysts' projections for revenue of $744.3 million. The company forecasts earnings per diluted share for the current quarter of 98 cents to $1.02, in line with expectations. Analysts are looking for earnings of 99 cents per share. About 1.25 million of the company's shares changed hands today, well above its average volume of 510,394 shares per day. You can view the full analysis from the report here: MSM
The share price of MSC Industrial has lagged that of peers such as Grainger and Fastenal, and also that of suppliers such as Kennametal. The market is wondering whether MSC Industrial's issues are predominantly driven by cyclical factors or increased online competition from Amazon, which is expanding into industrial distribution and is altering price transparency and competitive balance.
