MSC Industrial Direct Co Inc (NYSE:MSM) Plans $0.75 Quarterly Dividend

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MSC Industrial Direct Co Inc (NYSE:MSM) declared a quarterly dividend on Tuesday, June 30th, Zacks reports. Stockholders of record on Tuesday, July 14th will be given a dividend of 0.75 per share by the industrial products company on Tuesday, July 28th. This represents a $3.00 annualized dividend and a dividend yield of 4.64%. The ex-dividend date of this dividend is Monday, July 13th.

MSC Industrial Direct has a dividend payout ratio of 73.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect MSC Industrial Direct to earn $4.31 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 69.6%.

MSM opened at $64.64 on Friday. MSC Industrial Direct has a 1 year low of $44.93 and a 1 year high of $79.87. The firm has a 50 day moving average price of $70.80 and a 200 day moving average price of $66.40. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.94 and a current ratio of 2.63. The company has a market cap of $3.58 billion, a PE ratio of 13.16 and a beta of 1.00.

MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings data on Wednesday, July 8th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.24. MSC Industrial Direct had a net margin of 8.07% and a return on equity of 19.58%. The company had revenue of $834.97 million during the quarter, compared to the consensus estimate of $835.02 million. On average, sell-side analysts predict that MSC Industrial Direct will post 4.5 earnings per share for the current year.

MSM has been the subject of several analyst reports. Deutsche Bank decreased their target price on MSC Industrial Direct from $79.00 to $76.00 and set a “hold” rating for the company in a research report on Thursday. Zacks Investment Research upgraded MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a report on Wednesday, June 3rd. Stephens lowered their price objective on shares of MSC Industrial Direct from $78.00 to $66.00 and set an “equal weight” rating for the company in a research report on Monday, April 13th. KeyCorp boosted their target price on shares of MSC Industrial Direct from $75.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. Finally, Robert W. Baird raised their price target on shares of MSC Industrial Direct from $62.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, April 9th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $72.33.

In other MSC Industrial Direct news, EVP Douglas E. Jones sold 3,697 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $60.00, for a total transaction of $221,820.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Edward F. Martin, Jr. sold 653 shares of the stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $64.79, for a total value of $42,307.87. The disclosure for this sale can be found here. 28.75% of the stock is currently owned by corporate insiders.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products in the United States, Canada, and the United Kingdom. The company's MRO products comprise 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.

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Dividend History for MSC Industrial Direct (NYSE:MSM)

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