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MSC Industrial Direct Company, Inc. (MSM - Free Report) announced that it acquired intellectual property assets from Schmitz Manufacturing Research & Technology LLC (“SMRT”) relating to its technology solutions for the U.S. manufacturing industry. This move will enable MSM to accelerate innovation across its competitive metalworking products and solutions by integrating SMTR's technical expertise.
SMRT is based in Knoxville, TN, and specializes in machining dynamics and mechanical vibrations. SMRT consults with industry and government partners, and has established itself as a global leader in mechanical, aerospace and manufacturing engineering.
With SMRT's intellectual property assets, MSM plans to develop and deploy technologies for the U.S. machinery sector that will reduce customers' manufacturing costs, boost capacity through speed improvements and enhance shop floor efficiency.
MSM has been active on the acquisition front. In January 2024, it acquired a metalworking distributor, KAR Industrial Inc. This move expands MSM’s metalworking footprint in Canada.
MSM reported second-quarter fiscal 2024 adjusted earnings per share of $1.18, beating the Zacks Consensus Estimate of $1.16. The bottom line fell 19% year over year. MSC Industrial generated revenues of around $935 million in the quarter under review, down 2.8% from $962 million in the year-ago quarter.
Price Performance
MSC Industrial’s shares have gained 25% in the past year compared with the industry’s growth of 26%.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
MSC Industrial currently carries a Zacks Rank #4 (Sell).
The Zacks Consensus Estimate for Proto Labs’ 2024 earnings is pegged at $1.62 per share. The consensus estimate for 2024 earnings has moved 11% north in the past 60 days and suggests year-over-year growth of 1.9%. The company has a trailing four-quarter average earnings surprise of 42.2%. PRLB shares have gained 15.7% in the past year.
The Zacks Consensus Estimate for Cadre Holdings’ 2024 earnings is pegged at $1.15 per share. The consensus estimate for 2024 earnings has moved 6% north in the past 60 days and suggests year-over-year growth of 16.7%. The company has a trailing four-quarter average earnings surprise of 33%. CDRE shares have gained 72% in the past year.
Applied Industrial has an average trailing four-quarter earnings surprise of 13.9%. The Zacks Consensus Estimate for AIT’s 2024 earnings is pinned at $9.43 per share, which indicates year-over-year growth of 7.8%. Estimates have been unchanged in the past 60 days. The company’s shares have gained 43.3% in the past year.
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MSC Industrial (MSM) Buys SMRT's Intellectual Property Assets
MSC Industrial Direct Company, Inc. (MSM - Free Report) announced that it acquired intellectual property assets from Schmitz Manufacturing Research & Technology LLC (“SMRT”) relating to its technology solutions for the U.S. manufacturing industry. This move will enable MSM to accelerate innovation across its competitive metalworking products and solutions by integrating SMTR's technical expertise.
SMRT is based in Knoxville, TN, and specializes in machining dynamics and mechanical vibrations. SMRT consults with industry and government partners, and has established itself as a global leader in mechanical, aerospace and manufacturing engineering.
With SMRT's intellectual property assets, MSM plans to develop and deploy technologies for the U.S. machinery sector that will reduce customers' manufacturing costs, boost capacity through speed improvements and enhance shop floor efficiency.
MSM has been active on the acquisition front. In January 2024, it acquired a metalworking distributor, KAR Industrial Inc. This move expands MSM’s metalworking footprint in Canada.
MSM reported second-quarter fiscal 2024 adjusted earnings per share of $1.18, beating the Zacks Consensus Estimate of $1.16. The bottom line fell 19% year over year. MSC Industrial generated revenues of around $935 million in the quarter under review, down 2.8% from $962 million in the year-ago quarter.
Price Performance
MSC Industrial’s shares have gained 25% in the past year compared with the industry’s growth of 26%.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
MSC Industrial currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks from the Industrial Products sector are Proto Labs, Inc. (PRLB - Free Report) , Cadre Holdings, Inc. (CDRE - Free Report) and Applied Industrial Technologies (AIT - Free Report) . PRLB currently sports a Zacks Rank #1 (Strong Buy), and CDRE and AIT carry a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Proto Labs’ 2024 earnings is pegged at $1.62 per share. The consensus estimate for 2024 earnings has moved 11% north in the past 60 days and suggests year-over-year growth of 1.9%. The company has a trailing four-quarter average earnings surprise of 42.2%. PRLB shares have gained 15.7% in the past year.
The Zacks Consensus Estimate for Cadre Holdings’ 2024 earnings is pegged at $1.15 per share. The consensus estimate for 2024 earnings has moved 6% north in the past 60 days and suggests year-over-year growth of 16.7%. The company has a trailing four-quarter average earnings surprise of 33%. CDRE shares have gained 72% in the past year.
Applied Industrial has an average trailing four-quarter earnings surprise of 13.9%. The Zacks Consensus Estimate for AIT’s 2024 earnings is pinned at $9.43 per share, which indicates year-over-year growth of 7.8%. Estimates have been unchanged in the past 60 days. The company’s shares have gained 43.3% in the past year.