Tag Archives: MSM

MSC Industrial Direct (MSM), mcap=$4.4bn, price $79.2 vs $82.86

Leader in fragmented industry positioned to continue increasing market share and improve margins. Trades at a steep discount to peers. Distributor servicing maintenance and repair industry in N.A. About 2m SKUs, 80% focused on heavy manufacturing. Closely exposed to the industrial production cycle. Expected to benefit from onshoring and customers’ desire to reduce supply chain risk.