MSC Industrial Direct Company, Inc. (MSM) To Go Ex-Dividend on July 8th

MSC Industrial Direct Company, Inc. (NYSE:MSM) announced a quarterly dividend on Tuesday, June 16th. Investors of record on Wednesday, July 8th will be given a dividend of 0.87 per share by the industrial products company on Wednesday, July 22nd. This represents a c) dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, July 8th.

MSC Industrial Direct has decreased its dividend payment by an average of 0.2%per year over the last three years and has raised its dividend every year for the last 3 years. MSC Industrial Direct has a dividend payout ratio of 89.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect MSC Industrial Direct to earn $5.11 per share next year, which means the company should continue to be able to cover its $3.48 annual dividend with an expected future payout ratio of 68.1%.

MSC Industrial Direct Price Performance

MSM opened at $123.06 on Monday. MSC Industrial Direct has a 52-week low of $78.80 and a 52-week high of $127.51. The company has a 50 day moving average of $111.18 and a two-hundred day moving average of $97.37. The company has a market cap of $6.87 billion, a P/E ratio of 29.72 and a beta of 0.83. The company has a quick ratio of 0.72, a current ratio of 1.55 and a debt-to-equity ratio of 0.06.

MSC Industrial Direct (NYSE:MSM) last issued its earnings results on Wednesday, July 1st. The industrial products company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.15. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. MSC Industrial Direct had a net margin of 5.91% and a return on equity of 17.34%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.08 EPS. On average, analysts expect that MSC Industrial Direct will post 4.46 earnings per share for the current year.

Institutional Investors Weigh In On MSC Industrial Direct

Several hedge funds have recently bought and sold shares of MSM. Auto Owners Insurance Co boosted its position in shares of MSC Industrial Direct by 12,181.8% in the fourth quarter. Auto Owners Insurance Co now owns 3,254,670 shares of the industrial products company’s stock valued at $273,718,000 after acquiring an additional 3,228,170 shares during the period. Norges Bank acquired a new stake in MSC Industrial Direct during the fourth quarter valued at approximately $59,380,000. Alberta Investment Management Corp grew its position in MSC Industrial Direct by 213.7% in the fourth quarter. Alberta Investment Management Corp now owns 619,600 shares of the industrial products company’s stock valued at $52,108,000 after acquiring an additional 422,100 shares during the period. First Trust Advisors LP boosted its position in MSC Industrial Direct by 20.9% in the first quarter. First Trust Advisors LP now owns 1,773,133 shares of the industrial products company’s stock valued at $163,607,000 after buying an additional 306,436 shares in the last quarter. Finally, Corient Private Wealth LLC grew its position in MSC Industrial Direct by 3,393.6% during the 4th quarter. Corient Private Wealth LLC now owns 275,432 shares of the industrial products company’s stock worth $23,164,000 after acquiring an additional 267,548 shares during the last quarter. 79.26% of the stock is owned by hedge funds and other institutional investors.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc (NYSE: MSM) is a leading distributor of metalworking and maintenance, repair and operations (MRO) products serving a broad range of industrial customers across North America. The company offers an extensive portfolio of cutting tools, abrasives, measuring and inspection instruments, fasteners, safety supplies and other essential components used in manufacturing, metalworking and production environments. MSC delivers products through a multi-channel distribution network, including an extensive branch system, e-commerce platform and dedicated sales force.

In addition to its core product offerings, MSC Industrial Direct provides value-added services designed to improve productivity and reduce downtime for its customers.