Bryce Point Capital LLC Takes Position in MSC Industrial Direct Company, Inc. (NYSE:MSM)

Bryce Point Capital LLC purchased a new stake in MSC Industrial Direct Company, Inc. (NYSE:MSM) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,626 shares of the industrial products company’s stock, valued at approximately $205,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Headlands Technologies LLC bought a new stake in shares of MSC Industrial Direct in the fourth quarter valued at approximately $25,000. Investment Management Corp VA ADV raised its position in shares of MSC Industrial Direct by 207.8% in the first quarter. Investment Management Corp VA ADV now owns 397 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 268 shares during the period. Neo Ivy Capital Management bought a new stake in shares of MSC Industrial Direct in the first quarter valued at approximately $32,000. Farther Finance Advisors LLC raised its position in shares of MSC Industrial Direct by 895.0% in the first quarter. Farther Finance Advisors LLC now owns 597 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 537 shares during the period. Finally, GAMMA Investing LLC increased its holdings in MSC Industrial Direct by 47.1% during the 1st quarter. GAMMA Investing LLC now owns 681 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 218 shares during the period. Institutional investors own 79.26% of the company’s stock.

MSC Industrial Direct Price Performance

Shares of NYSE:MSM opened at $87.35 on Monday. The company’s fifty day moving average price is $84.38 and its 200-day moving average price is $80.71. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of 24.67 and a beta of 0.87. MSC Industrial Direct Company, Inc. has a one year low of $68.10 and a one year high of $92.68. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.92 and a quick ratio of 0.91.

MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings results on Tuesday, July 1st. The industrial products company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.05. MSC Industrial Direct had a net margin of 5.30% and a return on equity of 14.99%. The firm had revenue of $971.15 million for the quarter, compared to analyst estimates of $969.72 million. During the same quarter in the prior year, the firm earned $1.33 EPS. The business’s revenue for the quarter was down .8% compared to the same quarter last year. On average, equities research analysts anticipate that MSC Industrial Direct Company, Inc. will post 3.57 earnings per share for the current fiscal year.

MSC Industrial Direct Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend was Wednesday, July 9th. MSC Industrial Direct’s dividend payout ratio is currently 96.05%.

Insider Activity at MSC Industrial Direct

In related news, SVP Kimberly Shacklett sold 2,130 shares of the stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $92.00, for a total transaction of $195,960.00. Following the transaction, the senior vice president owned 14,657 shares of the company’s stock, valued at approximately $1,348,444. This trade represents a 12.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 18.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MSM. Stephens boosted their price target on shares of MSC Industrial Direct from $85.00 to $90.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 2nd. Loop Capital upped their price target on shares of MSC Industrial Direct from $74.00 to $84.00 and gave the stock a “hold” rating in a report on Wednesday, July 2nd. JPMorgan Chase & Co. raised shares of MSC Industrial Direct from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $73.00 to $89.00 in a report on Tuesday, May 27th. Robert W. Baird upped their price target on shares of MSC Industrial Direct from $84.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, July 2nd. Finally, Wolfe Research raised shares of MSC Industrial Direct to a “strong-buy” rating in a report on Sunday, April 6th. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $90.33.

MSC Industrial Direct 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.