NEW YORK, September 6, 2016 /PRNewswire/ --
Stock-Callers.com redirects investors' attention to the Wholesale Industrial Equipment industry, which comprises companies that distribute machinery and equipment used in manufacturing, oil and gas exploration and production, and warehousing. Equities in focus are: HD Supply Holdings Inc. (NASDAQ: HDS), WESCO International Inc. (NYSE: WCC), MSC Industrial Direct Co. Inc. (NYSE: MSM), and W.W. Grainger Inc. (NYSE: GWW). Today's research reports on the aforementioned stocks are downloadable for free upon registration at:
HD Supply Holdings
Atlanta, Georgia headquartered HD Supply Holdings Inc.'s stock finished Wednesday's session at $31.67, rising 0.16%. A total volume of 1.55 million shares was traded. The Company's shares have gained 5.46% since the start of this year. The stock is trading below its 200-day moving average by 1.14%. Moreover, shares of HD Supply Holdings, which operates as an industrial distributor in North America, have a Relative Strength Index (RSI) of 42.84.
On September 19th, 2016, HD Supply Holdings announced that its indirect wholly-owned subsidiary, HD Supply, Inc., has secured commitments from investors to fund a new tranche of term loans in an aggregate principal amount of $550,000,000 priced at 99.50% of the principal amount and bearing interest at a rate of LIBOR plus 2.75% per annum. The Company intends to use the proceeds of such new tranche of term loans, together with cash on hand and borrowings under its existing ABL Credit Facility, to redeem its outstanding $1,275,000,000 aggregate principal amount of 7.50% Senior Notes due 2020 and to pay related fees and expenses. The transaction is expected to close on October 17th, 2016, subject to customary closing conditions.
On September 20th, 2016, research firm RBC Capital Markets downgraded the Company's stock rating from 'Outperform' to 'Sector Perform'. The research firm also revised downwards its previous target price from $43 to $35. Visit us today and access our complete research report on HDS at:
Shares in Pittsburgh, Pennsylvania headquartered WESCO International Inc. ended yesterday's session 1.32% higher at $62.24 with a total trading volume of 368,811 shares. The stock has gained 21.97% in the previous three months and 42.49% on an YTD basis. The Company's shares are trading 5.85% above their 50-day moving average and 18.63% above their 200-day moving average. Moreover, shares of WESCO International, which distributes electrical, industrial, and communication maintenance, repair, and operating products; and original equipment manufacturers products and construction materials in North America and internationally, have an RSI of 63.73.
On September 22nd, 2016, WESCO International announced that the redemption of its 6.0% Convertible Senior Debentures due 2029 was completed on September 15th, 2016. Holders of the Debentures received cash totaling $344,804,000, which was equal to the principal amount of the then- outstanding Debentures, in addition to accrued and unpaid interest. Holders who surrendered the Debentures for conversion received 18 shares of WESCO for each $1,000 principal amount of Debentures converted. The complimentary report on WCC can be downloaded at:
MSC Industrial Direct
On Wednesday, Melville, New York headquartered MSC Industrial Direct Co. Inc.'s stock climbed 1.72%, to close the day at $74.10. A total volume of 380,258 shares was traded. The Company's shares have advanced 0.52% in the last one month, 0.91% in the previous three months, and 34.19% on an YTD basis. The stock is trading 1.79% above its 50-day moving average and 5.45% above its 200-day moving average. Additionally, shares of MSC Industrial Direct, which together with its subsidiaries, markets and distributes various ranges of metalworking and maintenance, repair, and operations products primarily in the US, have an RSI of 58.40. Register for free on Stock-Callers.com and access the latest research report on MSM at:
Shares in Lake Forest, Illinois-based W.W. Grainger Inc. ended the day 1.26% higher at $225.11 and with a total trading volume of 430,656 shares. The stock has gained 0.42% in the previous three months and 13.01% since the start of this year. The Company's shares are trading above their 50-day and 200-day moving averages by 0.35% and 3.08%, respectively. Furthermore, shares of W.W. Grainger, which distributes maintenance, repair, and operating supplies; and other related products and services that are used by businesses and institutions, have an RSI of 54.15.
As per notes filed with the SEC, dated October 3rd, 2016, William Lomax, Vice President and Controller and principal accounting officer of W.W. Grainger, resigned from his current position, effective October 1st, 2016. Mr. Lomax will remain employed by the Company in a non-executive officer capacity through December 31st, 2016 to assist W.W. Grainger with the transition. Effective October 1st, 2016, Eric R. Tapia became the company's new Vice President and Controller and principal accounting officer. Get free access to your research report on GWW at:
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