Bridgefront Capital LLC Purchases New Shares in MSC Industrial Direct Co., Inc. (NYSE:MSM)

Bridgefront Capital LLC acquired a new stake in shares of MSC Industrial Direct Co., Inc. (NYSE:MSM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 4,006 shares of the industrial products company's stock, valued at approximately $299,000.

Other hedge funds also recently bought and sold shares of the company. Cary Street Partners Financial LLC purchased a new stake in shares of MSC Industrial Direct during the fourth quarter valued at $1,545,000. Balyasny Asset Management L.P. grew its stake in MSC Industrial Direct by 1,872.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 107,251 shares of the industrial products company's stock worth $8,011,000 after acquiring an additional 101,813 shares in the last quarter. Bayesian Capital Management LP purchased a new position in shares of MSC Industrial Direct during the fourth quarter worth approximately $283,000. Beverly Hills Private Wealth LLC raised its stake in shares of MSC Industrial Direct by 4.9% during the fourth quarter. Beverly Hills Private Wealth LLC now owns 3,592 shares of the industrial products company's stock valued at $268,000 after acquiring an additional 167 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of MSC Industrial Direct by 307.2% in the fourth quarter. BNP Paribas Financial Markets now owns 74,804 shares of the industrial products company's stock valued at $5,587,000 after purchasing an additional 56,433 shares during the period. Institutional investors own 79.26% of the company's stock.

MSC Industrial Direct Stock Up 0.1 %

MSM traded up $0.09 on Friday, hitting $76.11. The company had a trading volume of 311,810 shares, compared to its average volume of 640,716. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of 18.16 and a beta of 0.90. The stock has a fifty day moving average price of $76.87 and a 200-day moving average price of $79.92. MSC Industrial Direct Co., Inc. has a 12-month low of $68.10 and a 12-month high of $94.31. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 1.93.

MSC Industrial Direct (NYSE:MSM - Get Free Report) last posted its quarterly earnings data on Thursday, April 3rd. The industrial products company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.68 by $0.04. MSC Industrial Direct had a net margin of 6.21% and a return on equity of 17.80%. The firm had revenue of $891.70 million during the quarter, compared to analyst estimates of $908.30 million. During the same quarter in the previous year, the business posted $1.18 EPS. MSC Industrial Direct's revenue was down 4.7% on a year-over-year basis. Analysts predict that MSC Industrial Direct Co., Inc. will post 3.57 EPS for the current fiscal year.

MSC Industrial Direct Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Wednesday, April 9th. This represents a $3.40 annualized dividend and a yield of 4.47%. MSC Industrial Direct's dividend payout ratio (DPR) is 89.71%.

Insider Activity at MSC Industrial Direct

In related news, Director Mitchell Jacobson acquired 27,642 shares of the business's stock in a transaction dated Tuesday, April 8th. The shares were purchased at an average price of $69.77 per share, for a total transaction of $1,928,582.34. Following the completion of the acquisition, the director now directly owns 1,951,725 shares in the company, valued at $136,171,853.25. The trade was a 1.44 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on MSM. Loop Capital reduced their price objective on MSC Industrial Direct from $83.00 to $74.00 and set a "hold" rating on the stock in a report on Friday, April 4th. Wolfe Research upgraded MSC Industrial Direct to a "strong-buy" rating in a report on Sunday, April 6th. Finally, Robert W. Baird dropped their target price on shares of MSC Industrial Direct from $90.00 to $84.00 and set a "neutral" rating on the stock in a report on Friday, April 4th. Seven analysts have rated the stock with a hold rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $82.20.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products and services in the United States, Canada, Mexico, the United Kingdom, and internationally. The company's MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock products, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components, and electrical supplies.