Intrinsic value of MSC Industrial Direct - MSM

Previous Close

$89.82

  Intrinsic Value

$89.89

stock screener

  Rating & Target

hold

0%

Previous close

$89.82

 
Intrinsic value

$89.89

 
Up/down potential

0%

 
Rating

hold

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 0001), $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 4.1

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  11.30
  10.67
  10.10
  9.59
  9.13
  8.72
  8.35
  8.01
  7.71
  7.44
  7.20
  6.98
  6.78
  6.60
  6.44
  6.30
  6.17
  6.05
  5.95
  5.85
  5.77
  5.69
  5.62
  5.56
  5.50
  5.45
  5.41
  5.37
  5.33
  5.30
Revenue, $m
  3,214
  3,557
  3,916
  4,292
  4,684
  5,093
  5,518
  5,960
  6,419
  6,897
  7,393
  7,909
  8,445
  9,003
  9,583
  10,186
  10,815
  11,469
  12,151
  12,862
  13,603
  14,377
  15,185
  16,029
  16,911
  17,833
  18,798
  19,806
  20,862
  21,967
Variable operating expenses, $m
  2,772
  3,060
  3,361
  3,676
  4,005
  4,348
  4,705
  5,076
  5,462
  5,863
  6,205
  6,638
  7,088
  7,556
  8,042
  8,549
  9,076
  9,625
  10,197
  10,794
  11,416
  12,066
  12,744
  13,452
  14,193
  14,966
  15,776
  16,622
  17,508
  18,435
Fixed operating expenses, $m
  10
  10
  11
  11
  11
  11
  12
  12
  12
  12
  13
  13
  13
  14
  14
  14
  14
  15
  15
  15
  16
  16
  16
  17
  17
  18
  18
  18
  19
  19
Total operating expenses, $m
  2,782
  3,070
  3,372
  3,687
  4,016
  4,359
  4,717
  5,088
  5,474
  5,875
  6,218
  6,651
  7,101
  7,570
  8,056
  8,563
  9,090
  9,640
  10,212
  10,809
  11,432
  12,082
  12,760
  13,469
  14,210
  14,984
  15,794
  16,640
  17,527
  18,454
Operating income, $m
  432
  487
  545
  605
  667
  733
  801
  872
  945
  1,022
  1,176
  1,259
  1,344
  1,434
  1,527
  1,623
  1,724
  1,829
  1,938
  2,052
  2,171
  2,295
  2,425
  2,560
  2,702
  2,849
  3,004
  3,166
  3,335
  3,512
EBITDA, $m
  552
  612
  674
  740
  808
  879
  954
  1,031
  1,111
  1,194
  1,281
  1,371
  1,464
  1,561
  1,663
  1,768
  1,877
  1,992
  2,110
  2,235
  2,364
  2,499
  2,640
  2,787
  2,941
  3,102
  3,270
  3,446
  3,631
  3,824
Interest expense (income), $m
  12
  29
  34
  40
  46
  52
  58
  65
  72
  79
  86
  94
  102
  111
  119
  129
  138
  148
  158
  169
  180
  192
  204
  216
  230
  243
  258
  273
  288
  305
  322
Earnings before tax, $m
  403
  453
  505
  559
  616
  675
  736
  800
  867
  936
  1,082
  1,156
  1,234
  1,314
  1,398
  1,485
  1,576
  1,671
  1,770
  1,872
  1,980
  2,092
  2,209
  2,331
  2,458
  2,592
  2,731
  2,877
  3,030
  3,190
Tax expense, $m
  109
  122
  136
  151
  166
  182
  199
  216
  234
  253
  292
  312
  333
  355
  378
  401
  426
  451
  478
  506
  535
  565
  596
  629
  664
  700
  737
  777
  818
  861
Net income, $m
  294
  331
  369
  408
  450
  493
  537
  584
  633
  683
  790
  844
  901
  959
  1,021
  1,084
  1,151
  1,220
  1,292
  1,367
  1,445
  1,527
  1,612
  1,701
  1,795
  1,892
  1,994
  2,101
  2,212
  2,329

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
  2,336
  2,585
  2,846
  3,119
  3,404
  3,701
  4,010
  4,331
  4,665
  5,012
  5,373
  5,748
  6,138
  6,543
  6,964
  7,403
  7,859
  8,335
  8,831
  9,347
  9,886
  10,449
  11,036
  11,649
  12,290
  12,960
  13,661
  14,394
  15,161
  15,964
Adjusted assets (=assets-cash), $m
  2,336
  2,585
  2,846
  3,119
  3,404
  3,701
  4,010
  4,331
  4,665
  5,012
  5,373
  5,748
  6,138
  6,543
  6,964
  7,403
  7,859
  8,335
  8,831
  9,347
  9,886
  10,449
  11,036
  11,649
  12,290
  12,960
  13,661
  14,394
  15,161
  15,964
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
  765
  847
  932
  1,022
  1,115
  1,212
  1,313
  1,418
  1,528
  1,641
  1,760
  1,882
  2,010
  2,143
  2,281
  2,424
  2,574
  2,730
  2,892
  3,061
  3,238
  3,422
  3,614
  3,815
  4,025
  4,244
  4,474
  4,714
  4,965
  5,228
Working capital, $m
  849
  939
  1,034
  1,133
  1,237
  1,344
  1,457
  1,573
  1,695
  1,821
  1,952
  2,088
  2,230
  2,377
  2,530
  2,689
  2,855
  3,028
  3,208
  3,395
  3,591
  3,796
  4,009
  4,232
  4,465
  4,708
  4,963
  5,229
  5,508
  5,799
Total debt, $m
  631
  735
  843
  957
  1,075
  1,199
  1,327
  1,461
  1,600
  1,744
  1,894
  2,050
  2,212
  2,381
  2,556
  2,739
  2,929
  3,127
  3,333
  3,548
  3,772
  4,006
  4,250
  4,505
  4,772
  5,051
  5,342
  5,647
  5,966
  6,300
Total liabilities, $m
  972
  1,075
  1,184
  1,298
  1,416
  1,540
  1,668
  1,802
  1,941
  2,085
  2,235
  2,391
  2,553
  2,722
  2,897
  3,080
  3,270
  3,467
  3,673
  3,888
  4,113
  4,347
  4,591
  4,846
  5,113
  5,392
  5,683
  5,988
  6,307
  6,641
Total equity, $m
  1,364
  1,510
  1,662
  1,822
  1,988
  2,161
  2,342
  2,529
  2,725
  2,927
  3,138
  3,357
  3,584
  3,821
  4,067
  4,323
  4,590
  4,868
  5,157
  5,459
  5,774
  6,102
  6,445
  6,803
  7,178
  7,569
  7,978
  8,406
  8,854
  9,323
Total liabilities and equity, $m
  2,336
  2,585
  2,846
  3,120
  3,404
  3,701
  4,010
  4,331
  4,666
  5,012
  5,373
  5,748
  6,137
  6,543
  6,964
  7,403
  7,860
  8,335
  8,830
  9,347
  9,887
  10,449
  11,036
  11,649
  12,291
  12,961
  13,661
  14,394
  15,161
  15,964
Debt-to-equity ratio
  0.460
  0.490
  0.510
  0.530
  0.540
  0.550
  0.570
  0.580
  0.590
  0.600
  0.600
  0.610
  0.620
  0.620
  0.630
  0.630
  0.640
  0.640
  0.650
  0.650
  0.650
  0.660
  0.660
  0.660
  0.660
  0.670
  0.670
  0.670
  0.670
  0.680
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
  294
  331
  369
  408
  450
  493
  537
  584
  633
  683
  790
  844
  901
  959
  1,021
  1,084
  1,151
  1,220
  1,292
  1,367
  1,445
  1,527
  1,612
  1,701
  1,795
  1,892
  1,994
  2,101
  2,212
  2,329
Depreciation, amort., depletion, $m
  120
  125
  130
  135
  141
  147
  153
  159
  165
  172
  105
  112
  120
  128
  136
  144
  153
  162
  172
  182
  193
  204
  215
  227
  240
  253
  266
  281
  296
  311
Funds from operations, $m
  414
  455
  498
  543
  590
  639
  690
  743
  798
  855
  894
  956
  1,020
  1,087
  1,156
  1,229
  1,304
  1,382
  1,464
  1,549
  1,638
  1,731
  1,827
  1,928
  2,034
  2,145
  2,260
  2,381
  2,508
  2,640
Change in working capital, $m
  86
  91
  95
  99
  103
  108
  112
  117
  121
  126
  131
  136
  142
  147
  153
  159
  166
  173
  180
  188
  196
  204
  213
  223
  233
  243
  255
  266
  279
  292
Cash from operations, $m
  328
  365
  404
  444
  487
  531
  578
  626
  677
  729
  763
  820
  879
  940
  1,003
  1,069
  1,138
  1,209
  1,284
  1,361
  1,442
  1,526
  1,614
  1,706
  1,801
  1,901
  2,006
  2,115
  2,229
  2,348
Maintenance CAPEX, $m
  -41
  -46
  -50
  -55
  -61
  -66
  -72
  -78
  -84
  -91
  -98
  -105
  -112
  -120
  -128
  -136
  -144
  -153
  -162
  -172
  -182
  -193
  -204
  -215
  -227
  -240
  -253
  -266
  -281
  -296
New CAPEX, $m
  -78
  -82
  -86
  -89
  -93
  -97
  -101
  -105
  -109
  -114
  -118
  -123
  -128
  -133
  -138
  -144
  -150
  -156
  -162
  -169
  -177
  -184
  -192
  -201
  -210
  -219
  -229
  -240
  -251
  -263
Cash from investing activities, $m
  -119
  -128
  -136
  -144
  -154
  -163
  -173
  -183
  -193
  -205
  -216
  -228
  -240
  -253
  -266
  -280
  -294
  -309
  -324
  -341
  -359
  -377
  -396
  -416
  -437
  -459
  -482
  -506
  -532
  -559
Free cash flow, $m
  209
  238
  268
  299
  333
  368
  405
  443
  483
  524
  548
  592
  639
  688
  738
  790
  844
  901
  959
  1,020
  1,083
  1,149
  1,218
  1,290
  1,364
  1,442
  1,523
  1,608
  1,697
  1,790
Issuance/(repayment) of debt, $m
  98
  104
  109
  114
  119
  123
  129
  134
  139
  144
  150
  156
  162
  169
  175
  182
  190
  198
  206
  215
  224
  234
  244
  255
  267
  279
  292
  305
  319
  334
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  
  98
  104
  109
  114
  119
  123
  129
  134
  139
  144
  150
  156
  162
  169
  175
  182
  190
  198
  206
  215
  224
  234
  244
  255
  267
  279
  292
  305
  319
  334
Total cash flow (excl. dividends), $m
  307
  341
  376
  413
  451
  491
  533
  577
  622
  669
  698
  748
  801
  856
  913
  972
  1,034
  1,098
  1,165
  1,235
  1,308
  1,383
  1,462
  1,545
  1,631
  1,721
  1,815
  1,913
  2,016
  2,124
Retained Cash Flow (-), $m
  -139
  -146
  -153
  -159
  -166
  -173
  -180
  -188
  -195
  -203
  -211
  -219
  -228
  -237
  -246
  -256
  -267
  -278
  -289
  -302
  -315
  -328
  -343
  -358
  -374
  -391
  -409
  -428
  -448
  -469
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
  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 available for distribution, $m
  168
  196
  224
  253
  285
  318
  353
  389
  427
  466
  487
  529
  574
  619
  667
  716
  768
  821
  876
  933
  993
  1,055
  1,119
  1,187
  1,257
  1,330
  1,406
  1,485
  1,568
  1,655
Discount rate, %
  4.70
  4.94
  5.18
  5.44
  5.71
  6.00
  6.30
  6.61
  6.94
  7.29
  7.66
  8.04
  8.44
  8.86
  9.31
  9.77
  10.26
  10.77
  11.31
  11.88
  12.47
  13.09
  13.75
  14.44
  15.16
  15.92
  16.71
  17.55
  18.42
  19.35
PV of cash for distribution, $m
  161
  178
  192
  205
  216
  224
  230
  233
  233
  231
  216
  209
  200
  189
  176
  161
  146
  130
  114
  99
  84
  70
  58
  47
  37
  29
  22
  16
  12
  8
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 21.9
Price to Sales 1.8
Price to Book 4.1
Price to Tangible Book
Price to Cash Flow 20.5
Price to Free Cash Flow 25.3
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 $2887.744 million for the last fiscal year's total revenue generated by MSC Industrial Direct. The default revenue input number comes from 0001 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 11.3% 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 4.7%, 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 86.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $10 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%.

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 23.8%.

Life of production assets of 16.8 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 26.4%. 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 - $1225.14 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 46.061 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 $4.1 billion.

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COMPANY NEWS

▶ MSC Industrial: Fiscal 4Q Earnings Snapshot   [06:46AM  Associated Press]
▶ MSC Declares 9% Increase In Regular Quarterly Dividend   [Oct-18-18 04:15PM  PR Newswire]
▶ HD Supply Earnings Top, Sales Growth Accelerates For Sixth Quarter   [Sep-05-18 04:06PM  Investor's Business Daily]
▶ MSC Provides Update On Its Share Repurchase Program   [Jul-26-18 08:30AM  PR Newswire]
▶ 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]

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