Highbridge Capital Management LLC bought a new position in MSC Industrial Direct Co Inc (NYSE:MSM) in the third quarter, according to its most recent filing with the SEC. The firm bought 98,053 shares of the industrial products company’s stock, valued at approximately $7,409,000. Highbridge Capital Management LLC owned approximately 0.17% of MSC Industrial Direct as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Zions Bancorporation acquired a new stake in MSC Industrial Direct during the 3rd quarter valued at approximately $150,000. Jane Street Group LLC acquired a new stake in MSC Industrial Direct during the 3rd quarter valued at approximately $413,000. Vident Investment Advisory LLC lifted its stake in MSC Industrial Direct by 24.0% during the 3rd quarter. Vident Investment Advisory LLC now owns 4,777 shares of the industrial products company’s stock valued at $361,000 after acquiring an additional 924 shares during the period. First Republic Investment Management Inc. acquired a new stake in MSC Industrial Direct during the 3rd quarter valued at approximately $258,000. Finally, Engineers Gate Manager LP lifted its stake in MSC Industrial Direct by 618.9% during the 3rd quarter. Engineers Gate Manager LP now owns 17,914 shares of the industrial products company’s stock valued at $1,354,000 after acquiring an additional 15,422 shares during the period. Institutional investors own 75.57% of the company’s stock.

Several analysts have commented on the stock. Stifel Nicolaus restated a “hold” rating and set a $93.00 price objective on shares of MSC Industrial Direct in a research note on Monday. Credit Suisse Group set a $100.00 price objective on shares of MSC Industrial Direct and gave the company a “buy” rating in a research note on Monday, December 4th. TheStreet upgraded shares of MSC Industrial Direct from a “c+” rating to a “b-” rating in a research note on Tuesday, November 28th. BMO Capital Markets lifted their price objective on shares of MSC Industrial Direct from $83.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, November 1st. Finally, Wells Fargo & Company set a $86.00 price objective on shares of MSC Industrial Direct and gave the company a “hold” rating in a research note on Wednesday, November 1st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $88.92.

MSC Industrial Direct Co Inc (NYSE MSM) traded down $0.27 on Tuesday, hitting $90.23. 307,700 shares of the company traded hands, compared to its average volume of 614,858. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.97 and a current ratio of 1.80. MSC Industrial Direct Co Inc has a 1 year low of $65.42 and a 1 year high of $105.70. The firm has a market cap of $5,103.38, a PE ratio of 22.40, a P/E/G ratio of 1.77 and a beta of 0.67.

MSC Industrial Direct (NYSE:MSM) last posted its earnings results on Tuesday, October 31st. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.08. MSC Industrial Direct had a net margin of 8.01% and a return on equity of 19.42%. The firm had revenue of $753.80 million during the quarter, compared to analysts’ expectations of $745.80 million. During the same period in the previous year, the business posted $1.02 EPS. The business’s revenue was up 1.2% compared to the same quarter last year. analysts forecast that MSC Industrial Direct Co Inc will post 4.45 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 28th. Investors of record on Tuesday, November 14th were paid a $0.48 dividend. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.45. This represents a $1.92 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend was Monday, November 13th. MSC Industrial Direct’s payout ratio is currently 47.52%.

In related news, Director Mitchell Jacobson sold 33,866 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $82.39, for a total value of $2,790,219.74. Following the completion of the sale, the director now owns 35,932 shares of the company’s stock, valued at approximately $2,960,437.48. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Steven N. Baruch sold 5,762 shares of the business’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $81.25, for a total transaction of $468,162.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 225,541 shares of company stock valued at $18,264,812. Company insiders own 31.28% of the company’s stock.

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About MSC Industrial Direct

MSC Industrial Direct Co, Inc is a North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. The Company’s range of MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components and electrical supplies.

Institutional Ownership by Quarter for MSC Industrial Direct (NYSE:MSM)

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