MSC Industrial Direct Company, Inc. Plans Quarterly Dividend of $0.45 (MSM)
MSC Industrial Direct Company, Inc. (NYSE:MSM) announced a quarterly dividend on Friday, July 7th, RTT News reports. Shareholders of record on Tuesday, July 18th will be given a dividend of 0.45 per share by the industrial products company on Tuesday, August 1st. This represents a $1.80 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Friday, July 14th.
MSC Industrial Direct has raised its dividend payment by an average of 23.2% per year over the last three years and has raised its dividend every year for the last 6 years. MSC Industrial Direct has a payout ratio of 45.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect MSC Industrial Direct to earn $4.37 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 41.2%.
MSC Industrial Direct (MSM) traded up 0.01% during midday trading on Thursday, reaching $70.49. The company’s stock had a trading volume of 496,199 shares. The stock’s 50 day moving average is $79.96 and its 200 day moving average is $91.87. MSC Industrial Direct has a 12-month low of $69.90 and a 12-month high of $105.70. The stock has a market cap of $3.18 billion, a P/E ratio of 17.62 and a beta of 0.50.
MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings data on Wednesday, July 12th. The industrial products company reported $1.09 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.09. MSC Industrial Direct had a return on equity of 20.05% and a net margin of 8.07%. The firm had revenue of $743.90 million for the quarter, compared to analyst estimates of $744.49 million. During the same quarter in the prior year, the company posted $1.05 earnings per share. MSC Industrial Direct’s quarterly revenue was up 2.3% on a year-over-year basis. Analysts anticipate that MSC Industrial Direct will post $3.98 earnings per share for the current year.
A number of research analysts recently weighed in on the company. Zacks Investment Research raised MSC Industrial Direct from a “sell” rating to a “hold” rating in a report on Thursday. Northcoast Research assumed coverage on MSC Industrial Direct in a report on Tuesday, July 25th. They set a “neutral” rating on the stock. BidaskClub lowered MSC Industrial Direct from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Stifel Nicolaus reaffirmed a “hold” rating and set a $78.00 price objective (down previously from $88.00) on shares of MSC Industrial Direct in a report on Friday, July 14th. Finally, BMO Capital Markets dropped their price objective on MSC Industrial Direct from $98.00 to $87.00 and set a “market perform” rating on the stock in a report on Friday, July 14th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. MSC Industrial Direct presently has a consensus rating of “Hold” and an average target price of $92.00.
In other news, Director Philip Peller bought 1,000 shares of the firm’s stock in a transaction on Wednesday, July 19th. The shares were bought at an average cost of $72.00 per share, for a total transaction of $72,000.00. Following the completion of the transaction, the director now owns 2,422 shares in the company, valued at $174,384. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 31.28% of the stock is currently owned by insiders.
MSC Industrial Direct Company Profile
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.
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