MSC Industrial (MSM) was Smart Insider's stock pick of the week after the company's Chair Mitchell Jacobson bought $11.1 million of MSC's shares at $69.73 apiece on April 8, raising his ownership by 2%.
Jacobson's record as a buyer and a seller is "good" and the chair "notably" had a string of purchases between January 2021 and July 2022 before reversing and selling the shares in January last year, Smart Insider said in a note Tuesday.
"He is now reversing again after the shares drifted back. While the size of the trade is in line with his history, this reversal, given his record, is enough to rank the stock," the note said.
Smart Insider ranked the stock +1, or strong positive signal, on Thursday.
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