MSM - Insider Transaction: Erik Gershwind Sells $5.88M Worth Of MSC Industrial Direct Co Shares | Benzinga
Erik Gershwind, President and CEO at MSC Industrial Direct Co (NYSE:MSM), executed a substantial insider sell on January 22, according to an SEC filing.
What Happened: A Form 4 filing with the U.S. Securities and Exchange Commission on Monday outlined that Gershwind executed a sale of 60,939 shares of MSC Industrial Direct Co with a total value of $5,884,855.
Tracking the Tuesday's morning session, MSC Industrial Direct Co shares are trading at $97.7, showing a down of 0.0%.
Unveiling the Story Behind MSC Industrial Direct Co
MSC Industrial Direct is one of the largest industrial distributors with a focus on metalworking and maintenance, repair, and operations products and services. The company offers over 2 million products through its distribution network, which has 11 fulfillment centers. Although MSC has a presence in Canada, Mexico, and the United Kingdom, it primarily operates in the United States. In fiscal 2023, 95% of the firm's $4.0 billion of sales was generated in the U.S.
A Deep Dive into MSC Industrial Direct Co's Financials
Decline in Revenue: Over the 3 months period, MSC Industrial Direct Co faced challenges, resulting in a decline of approximately -0.39% in revenue growth as of 30 November, 2023. This signifies a ...