MSC Industrial Direct Company, Inc. $MSM Shares Sold by Bayforest Capital Ltd

Bayforest Capital Ltd trimmed its holdings in MSC Industrial Direct Company, Inc. (NYSE:MSM) by 95.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 309 shares of the industrial products company’s stock after selling 6,425 shares during the period. Bayforest Capital Ltd’s holdings in MSC Industrial Direct were worth $26,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in MSM. Farther Finance Advisors LLC boosted its holdings in 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 last quarter. GAMMA Investing LLC boosted its holdings in MSC Industrial Direct by 47.1% in the first quarter. GAMMA Investing LLC now owns 681 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 218 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in MSC Industrial Direct in the first quarter valued at $897,000. Janney Montgomery Scott LLC boosted its holdings in MSC Industrial Direct by 6.0% in the first quarter. Janney Montgomery Scott LLC now owns 5,956 shares of the industrial products company’s stock valued at $463,000 after purchasing an additional 337 shares during the last quarter. Finally, Altrius Capital Management Inc boosted its holdings in MSC Industrial Direct by 4.4% in the first quarter. Altrius Capital Management Inc now owns 56,525 shares of the industrial products company’s stock valued at $4,390,000 after purchasing an additional 2,387 shares during the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on MSM. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of MSC Industrial Direct in a report on Wednesday, October 8th. JPMorgan Chase & Co. increased their target price on shares of MSC Industrial Direct from $89.00 to $93.00 and gave the stock an “overweight” rating in a research note on Wednesday. Loop Capital increased their target price on shares of MSC Industrial Direct from $74.00 to $84.00 and gave the stock a “hold” rating in a research note on Wednesday, July 2nd. Stephens increased their target price on shares of MSC Industrial Direct from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 2nd. Finally, Wolfe Research lowered shares of MSC Industrial Direct from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, MSC Industrial Direct presently has a consensus rating of “Hold” and an average target price of $91.00.

MSC Industrial Direct Trading Up 0.5%

Shares of MSC Industrial Direct stock opened at $85.85 on Friday. The firm has a market capitalization of $4.78 billion, a PE ratio of 24.25 and a beta of 0.95. MSC Industrial Direct Company, Inc. has a twelve month low of $68.10 and a twelve month high of $94.31. The firm’s 50-day moving average price is $89.76 and its 200 day moving average price is $84.46. The company has a current ratio of 1.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21.

MSC Industrial Direct Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th will be paid a $0.87 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $3.48 dividend on an annualized basis and a yield of 4.1%. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.85. MSC Industrial Direct’s dividend payout ratio is 98.31%.

About MSC Industrial Direct

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.