I’ve been waiting for MSC Industrial (MSM)
to show some meaningful signs of internal momentum for some time… and
the wait just keeps going on. While management continues to tell a story
of becoming a more integrated, mission-critical partner for customers
and points to future benefits from pricing actions and sales force
restructuring, the fact remains that this company has established a
worrisome trend of underperformance and excuse-making.
I
do still own MSC and I do still believe the shares are undervalued, but
I now regard this position as a future source of funds if/when a better
idea presents itself, and I’m not especially comfortable holding the
shares in an underperforming manufacturing distributor going into what I
believe is a slowdown.
Click here for more:
Standing Up For MSC Industrial Getting Harder And Harder
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