Intrinsic value of MSC Industrial Direct - MSM

Previous Close

$82.95

  Intrinsic Value

$61.06

stock screener

  Rating & Target

sell

-26%

Previous close

$82.95

 
Intrinsic value

$61.06

 
Up/down potential

-26%

 
Rating

sell

We calculate the intrinsic value of MSM stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 4.7

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  2,946
  3,014
  3,091
  3,178
  3,274
  3,380
  3,495
  3,620
  3,754
  3,898
  4,052
  4,217
  4,392
  4,578
  4,775
  4,984
  5,206
  5,440
  5,688
  5,949
  6,225
  6,516
  6,822
  7,145
  7,485
  7,844
  8,220
  8,617
  9,034
  9,473
Variable operating expenses, $m
  2,555
  2,612
  2,678
  2,751
  2,832
  2,921
  3,018
  3,123
  3,236
  3,357
  3,413
  3,551
  3,699
  3,856
  4,022
  4,198
  4,385
  4,582
  4,790
  5,011
  5,243
  5,488
  5,746
  6,018
  6,304
  6,606
  6,924
  7,258
  7,609
  7,979
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  2,555
  2,612
  2,678
  2,751
  2,832
  2,921
  3,018
  3,123
  3,236
  3,357
  3,413
  3,551
  3,699
  3,856
  4,022
  4,198
  4,385
  4,582
  4,790
  5,011
  5,243
  5,488
  5,746
  6,018
  6,304
  6,606
  6,924
  7,258
  7,609
  7,979
Operating income, $m
  390
  401
  413
  427
  442
  459
  477
  497
  518
  541
  639
  665
  693
  722
  753
  786
  821
  858
  897
  939
  982
  1,028
  1,076
  1,127
  1,181
  1,237
  1,297
  1,359
  1,425
  1,495
EBITDA, $m
  572
  585
  600
  617
  636
  657
  679
  703
  729
  757
  787
  819
  853
  889
  928
  968
  1,011
  1,057
  1,105
  1,156
  1,209
  1,266
  1,325
  1,388
  1,454
  1,524
  1,597
  1,674
  1,755
  1,840
Interest expense (income), $m
  12
  29
  30
  31
  32
  33
  35
  37
  39
  41
  43
  45
  48
  50
  53
  56
  60
  63
  67
  70
  74
  79
  83
  88
  93
  98
  104
  110
  116
  122
  129
Earnings before tax, $m
  362
  371
  382
  395
  409
  424
  440
  458
  477
  498
  594
  617
  642
  669
  697
  727
  758
  792
  827
  864
  903
  945
  988
  1,034
  1,083
  1,134
  1,187
  1,244
  1,303
  1,365
Tax expense, $m
  98
  100
  103
  107
  110
  114
  119
  124
  129
  134
  160
  167
  173
  181
  188
  196
  205
  214
  223
  233
  244
  255
  267
  279
  292
  306
  321
  336
  352
  369
Net income, $m
  264
  271
  279
  288
  298
  309
  321
  334
  348
  363
  434
  451
  469
  488
  509
  531
  554
  578
  604
  631
  659
  690
  721
  755
  790
  828
  867
  908
  951
  997

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  2,141
  2,190
  2,246
  2,310
  2,380
  2,456
  2,540
  2,631
  2,728
  2,833
  2,945
  3,064
  3,192
  3,327
  3,470
  3,622
  3,783
  3,954
  4,134
  4,323
  4,524
  4,735
  4,958
  5,193
  5,440
  5,700
  5,974
  6,262
  6,566
  6,885
Adjusted assets (=assets-cash), $m
  2,141
  2,190
  2,246
  2,310
  2,380
  2,456
  2,540
  2,631
  2,728
  2,833
  2,945
  3,064
  3,192
  3,327
  3,470
  3,622
  3,783
  3,954
  4,134
  4,323
  4,524
  4,735
  4,958
  5,193
  5,440
  5,700
  5,974
  6,262
  6,566
  6,885
Revenue / Adjusted assets
  1.376
  1.376
  1.376
  1.376
  1.376
  1.376
  1.376
  1.376
  1.376
  1.376
  1.376
  1.376
  1.376
  1.376
  1.376
  1.376
  1.376
  1.376
  1.376
  1.376
  1.376
  1.376
  1.376
  1.376
  1.376
  1.376
  1.376
  1.376
  1.376
  1.376
Average production assets, $m
  1,075
  1,100
  1,128
  1,160
  1,195
  1,234
  1,276
  1,321
  1,370
  1,423
  1,479
  1,539
  1,603
  1,671
  1,743
  1,819
  1,900
  1,986
  2,076
  2,171
  2,272
  2,378
  2,490
  2,608
  2,732
  2,863
  3,000
  3,145
  3,298
  3,458
Working capital, $m
  351
  359
  368
  378
  390
  402
  416
  431
  447
  464
  482
  502
  523
  545
  568
  593
  620
  647
  677
  708
  741
  775
  812
  850
  891
  933
  978
  1,025
  1,075
  1,127
Total debt, $m
  550
  570
  594
  620
  649
  681
  716
  753
  794
  838
  884
  934
  987
  1,043
  1,103
  1,166
  1,233
  1,304
  1,379
  1,458
  1,541
  1,629
  1,722
  1,819
  1,922
  2,030
  2,144
  2,264
  2,390
  2,523
Total liabilities, $m
  891
  911
  934
  961
  990
  1,022
  1,057
  1,094
  1,135
  1,178
  1,225
  1,275
  1,328
  1,384
  1,444
  1,507
  1,574
  1,645
  1,720
  1,799
  1,882
  1,970
  2,063
  2,160
  2,263
  2,371
  2,485
  2,605
  2,731
  2,864
Total equity, $m
  1,250
  1,279
  1,312
  1,349
  1,390
  1,435
  1,483
  1,536
  1,593
  1,654
  1,720
  1,790
  1,864
  1,943
  2,027
  2,116
  2,210
  2,309
  2,414
  2,525
  2,642
  2,765
  2,895
  3,033
  3,177
  3,329
  3,489
  3,657
  3,834
  4,021
Total liabilities and equity, $m
  2,141
  2,190
  2,246
  2,310
  2,380
  2,457
  2,540
  2,630
  2,728
  2,832
  2,945
  3,065
  3,192
  3,327
  3,471
  3,623
  3,784
  3,954
  4,134
  4,324
  4,524
  4,735
  4,958
  5,193
  5,440
  5,700
  5,974
  6,262
  6,565
  6,885
Debt-to-equity ratio
  0.440
  0.450
  0.450
  0.460
  0.470
  0.470
  0.480
  0.490
  0.500
  0.510
  0.510
  0.520
  0.530
  0.540
  0.540
  0.550
  0.560
  0.560
  0.570
  0.580
  0.580
  0.590
  0.590
  0.600
  0.610
  0.610
  0.610
  0.620
  0.620
  0.630
Adjusted equity ratio
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  264
  271
  279
  288
  298
  309
  321
  334
  348
  363
  434
  451
  469
  488
  509
  531
  554
  578
  604
  631
  659
  690
  721
  755
  790
  828
  867
  908
  951
  997
Depreciation, amort., depletion, $m
  182
  184
  187
  190
  194
  198
  202
  207
  211
  217
  148
  154
  160
  167
  174
  182
  190
  199
  208
  217
  227
  238
  249
  261
  273
  286
  300
  315
  330
  346
Funds from operations, $m
  446
  455
  466
  479
  492
  507
  523
  541
  560
  580
  582
  605
  629
  655
  683
  713
  744
  777
  811
  848
  887
  927
  970
  1,016
  1,064
  1,114
  1,167
  1,222
  1,281
  1,343
Change in working capital, $m
  7
  8
  9
  10
  11
  13
  14
  15
  16
  17
  18
  20
  21
  22
  23
  25
  26
  28
  29
  31
  33
  35
  36
  38
  40
  43
  45
  47
  50
  52
Cash from operations, $m
  439
  447
  457
  468
  481
  495
  510
  526
  544
  563
  563
  585
  608
  633
  660
  688
  717
  749
  782
  817
  854
  893
  934
  977
  1,023
  1,071
  1,122
  1,175
  1,231
  1,290
Maintenance CAPEX, $m
  -106
  -108
  -110
  -113
  -116
  -120
  -123
  -128
  -132
  -137
  -142
  -148
  -154
  -160
  -167
  -174
  -182
  -190
  -199
  -208
  -217
  -227
  -238
  -249
  -261
  -273
  -286
  -300
  -315
  -330
New CAPEX, $m
  -20
  -25
  -28
  -32
  -35
  -39
  -42
  -45
  -49
  -53
  -56
  -60
  -64
  -68
  -72
  -76
  -81
  -86
  -90
  -95
  -101
  -106
  -112
  -118
  -124
  -131
  -138
  -145
  -152
  -160
Cash from investing activities, $m
  -126
  -133
  -138
  -145
  -151
  -159
  -165
  -173
  -181
  -190
  -198
  -208
  -218
  -228
  -239
  -250
  -263
  -276
  -289
  -303
  -318
  -333
  -350
  -367
  -385
  -404
  -424
  -445
  -467
  -490
Free cash flow, $m
  313
  315
  319
  324
  330
  336
  344
  353
  363
  373
  365
  377
  391
  405
  420
  437
  454
  473
  493
  514
  536
  560
  584
  610
  638
  667
  698
  730
  764
  800
Issuance/(repayment) of debt, $m
  17
  20
  23
  26
  29
  32
  35
  38
  41
  44
  47
  50
  53
  56
  60
  63
  67
  71
  75
  79
  83
  88
  93
  98
  103
  108
  114
  120
  126
  133
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  17
  20
  23
  26
  29
  32
  35
  38
  41
  44
  47
  50
  53
  56
  60
  63
  67
  71
  75
  79
  83
  88
  93
  98
  103
  108
  114
  120
  126
  133
Total cash flow (excl. dividends), $m
  330
  336
  342
  350
  359
  368
  379
  391
  403
  417
  411
  427
  444
  461
  480
  500
  521
  544
  568
  593
  619
  647
  677
  708
  741
  776
  812
  850
  891
  933
Retained Cash Flow (-), $m
  -25
  -29
  -33
  -37
  -41
  -45
  -49
  -53
  -57
  -61
  -65
  -70
  -74
  -79
  -84
  -89
  -94
  -99
  -105
  -111
  -117
  -123
  -130
  -137
  -144
  -152
  -160
  -168
  -177
  -186
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  14
  15
  15
  15
  16
  16
  17
  17
  18
  19
  19
  20
  21
  22
  23
  24
  25
  26
  27
  28
  30
  31
  33
  34
  36
  37
  39
  41
  43
  45
Cash available for distribution, $m
  305
  307
  309
  313
  318
  324
  330
  338
  346
  356
  346
  357
  369
  382
  396
  411
  427
  445
  463
  482
  502
  524
  547
  571
  597
  624
  652
  682
  714
  747
Discount rate, %
  4.80
  5.04
  5.29
  5.56
  5.83
  6.13
  6.43
  6.75
  7.09
  7.45
  7.82
  8.21
  8.62
  9.05
  9.50
  9.98
  10.48
  11.00
  11.55
  12.13
  12.74
  13.37
  14.04
  14.74
  15.48
  16.25
  17.07
  17.92
  18.82
  19.76
PV of cash for distribution, $m
  291
  278
  265
  252
  239
  226
  213
  200
  187
  173
  151
  139
  126
  114
  102
  90
  79
  68
  58
  49
  41
  33
  27
  21
  16
  12
  9
  7
  5
  3
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

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. The Company serves a range of customers throughout the United States, Canada and the United Kingdom, from individual machine shops, to manufacturing companies, to government agencies, such as the General Services Administration and the Department of Defense. The Company also serves durable and non-durable goods manufacturing, education and healthcare markets, among others. As of September 3, 2016, the Company had operated a network of 12 customer fulfillment centers.

FINANCIAL RATIOS  of  MSC Industrial Direct (MSM)

Valuation Ratios
P/E Ratio 20.2
Price to Sales 1.6
Price to Book 3.8
Price to Tangible Book
Price to Cash Flow 18.9
Price to Free Cash Flow 23.4
Growth Rates
Sales Growth Rate 0.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -46.6%
Cap. Spend. - 3 Yr. Gr. Rate -7.9%
Financial Strength
Quick Ratio 0
Current Ratio 0
LT Debt to Equity 16.4%
Total Debt to Equity 43.5%
Interest Coverage 32
Management Effectiveness
Return On Assets 11.5%
Ret/ On Assets - 3 Yr. Avg. 11.3%
Return On Total Capital 13.3%
Ret/ On T. Cap. - 3 Yr. Avg. 13.3%
Return On Equity 19.9%
Return On Equity - 3 Yr. Avg. 18.6%
Asset Turnover 1.4
Profitability Ratios
Gross Margin 44.5%
Gross Margin - 3 Yr. Avg. 44.9%
EBITDA Margin 15.3%
EBITDA Margin - 3 Yr. Avg. 15.5%
Operating Margin 13.1%
Oper. Margin - 3 Yr. Avg. 13.1%
Pre-Tax Margin 12.7%
Pre-Tax Margin - 3 Yr. Avg. 12.8%
Net Profit Margin 8%
Net Profit Margin - 3 Yr. Avg. 8%
Effective Tax Rate 37.2%
Eff/ Tax Rate - 3 Yr. Avg. 37.7%
Payout Ratio 44.2%

MSM stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the MSM stock intrinsic value calculation we used $2888 million for the last fiscal year's total revenue generated by MSC Industrial Direct. The default revenue input number comes from 2017 income statement of MSC Industrial Direct. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our MSM stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.8%, whose default value for MSM is calculated based on our internal credit rating of MSC Industrial Direct, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of MSC Industrial Direct.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of MSM stock the variable cost ratio is equal to 86.8%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for MSM stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for MSC Industrial Direct.

Corporate tax rate of 27% is the nominal tax rate for MSC Industrial Direct. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the MSM stock is equal to 0.5%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for MSM are equal to 36.5%.

Life of production assets of 10 years is the average useful life of capital assets used in MSC Industrial Direct operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for MSM is equal to 11.9%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1225 million for MSC Industrial Direct - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 57 million for MSC Industrial Direct is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of MSC Industrial Direct at the current share price and the inputted number of shares is $4.7 billion.

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COMPANY NEWS

▶ Company News For Jul 12, 2018   [Jul-12-18 10:20AM  Zacks]
▶ Trump's New Threats On Trade Hurt Stock Market   [Jul-11-18 03:05PM  Investor's Business Daily]
▶ MSC Industrial: Fiscal 3Q Earnings Snapshot   [06:53AM  Associated Press]
▶ Earnings Outlook For MSC Industrial Direct   [Jul-10-18 02:44PM  Benzinga]
▶ 3 Things to Watch in the Stock Market This Week   [Jul-08-18 01:00PM  Motley Fool]
▶ MSC Declares Regular Quarterly Dividend   [Jun-19-18 05:11PM  PR Newswire]
▶ June Industrial Dividend Stock Picks   [Jun-02-18 12:02PM  Simply Wall St.]
▶ Best Industrial Dividend Stock Picks   [Apr-28-18 12:02PM  Simply Wall St.]
▶ Edited Transcript of MSM presentation 7-Mar-17 6:40pm GMT   [03:30PM  Thomson Reuters StreetEvents]
▶ MSC Industrial: Fiscal 2Q Earnings Snapshot   [07:11AM  Associated Press]
▶ Two Of The Most Powerful Men In The World Will Drive Markets Tuesday   [Apr-09-18 04:13PM  Investor's Business Daily]
▶ 3 Things to Watch in the Stock Market This Week   [Apr-08-18 07:16AM  Motley Fool]
▶ MSC Declares Regular Quarterly Dividend   [Apr-05-18 06:07PM  PR Newswire]
▶ Value-Adding Industrial Dividend Stocks To Buy Now   [Mar-17-18 12:02PM  Simply Wall St.]
▶ Top NYSE Industrial Dividend Paying Companies   [Feb-10-18 11:02AM  Simply Wall St.]
▶ WESCO International: Margin Growth Needed   [Feb-02-18 05:05PM  Motley Fool]
▶ Is Amazon.com Set to Destroy These 3 Industries?   [Jan-30-18 09:37AM  Motley Fool]
▶ MSC Industrial Direct Faces a Pivotal Second Quarter   [Jan-16-18 07:32AM  Motley Fool]
▶ MSC Industrial Direct Getting Closer To Key Technical Measure   [Jan-12-18 03:00AM  Investor's Business Daily]
▶ These 3 Stocks Just Raised Their Dividends   [Jan-11-18 07:33PM  Motley Fool]
▶ MSC Industrial misses Street 1Q forecasts   [06:51AM  Associated Press]
▶ MSC Declares 21% Increase In Regular Quarterly Dividend   [Jan-03-18 08:30AM  PR Newswire]
▶ Stocks Generating Improved Relative Strength: MSC Industrial Direct   [Dec-29-17 03:00AM  Investor's Business Daily]
▶ MSC Industrial Direct Sees Relative Strength Rating Rise To 72   [03:00AM  Investor's Business Daily]
▶ MSC Industrial Direct Looks to Regain Pricing Power   [Nov-02-17 10:33AM  Motley Fool]
▶ MSC Industrial beats Street 4Q forecasts   [Oct-31-17 07:04AM  Associated Press]
▶ MSC Declares 6.7% Increase In Regular Quarterly Dividend   [Oct-24-17 05:26PM  PR Newswire]
▶ 7 Underperforming Stocks in Gurus' Portfolios   [Sep-27-17 01:48PM  GuruFocus.com]
▶ MSC Industrial Supply Co. Acquires DECO Tool Supply Co.   [Aug-07-17 09:00AM  PR Newswire]
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