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

MSC Industrial Direct Co., Inc. (NYSE:MSMGet Rating) declared a quarterly dividend on Tuesday, June 21st, Zacks reports. Stockholders of record on Tuesday, July 12th will be paid a dividend of 0.75 per share by the industrial products company on Tuesday, July 26th. This represents a $3.00 annualized dividend and a dividend yield of 4.08%. The ex-dividend date is Monday, July 11th.

MSC Industrial Direct has a dividend payout ratio of 46.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect MSC Industrial Direct to earn $6.46 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 46.4%.

Shares of NYSE:MSM opened at $73.46 on Thursday. The firm has a 50 day moving average of $82.35 and a 200-day moving average of $82.10. The stock has a market capitalization of $4.10 billion, a PE ratio of 13.89 and a beta of 1.00. The company has a current ratio of 2.37, a quick ratio of 1.27 and a debt-to-equity ratio of 0.47. MSC Industrial Direct has a 12 month low of $72.34 and a 12 month high of $92.04.

MSC Industrial Direct (NYSE:MSMGet Rating) last announced its quarterly earnings results on Wednesday, March 30th. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.04. The company had revenue of $862.50 million for the quarter, compared to analyst estimates of $856.03 million. MSC Industrial Direct had a net margin of 8.70% and a return on equity of 24.70%. The firm’s revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.03 EPS. On average, research analysts predict that MSC Industrial Direct will post 6.08 EPS for the current fiscal year.

In related news, Director Mitchell Jacobson bought 4,654 shares of the company’s stock in a transaction that occurred on Thursday, May 12th. The shares were bought at an average price of $79.19 per share, for a total transaction of $368,550.26. Following the transaction, the director now directly owns 72,450 shares of the company’s stock, valued at $5,737,315.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Douglas E. Jones sold 31,635 shares of the business’s stock in a transaction on Thursday, March 31st. The shares were sold at an average price of $86.00, for a total transaction of $2,720,610.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,325 shares of company stock worth $3,629,109. Insiders own 28.28% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in MSM. Point72 Hong Kong Ltd raised its holdings in MSC Industrial Direct by 224.5% during the first quarter. Point72 Hong Kong Ltd now owns 1,441 shares of the industrial products company’s stock worth $123,000 after buying an additional 997 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in MSC Industrial Direct by 115.7% during the first quarter. PNC Financial Services Group Inc. now owns 1,514 shares of the industrial products company’s stock worth $128,000 after buying an additional 812 shares during the last quarter. Covestor Ltd raised its holdings in MSC Industrial Direct by 89.5% during the first quarter. Covestor Ltd now owns 1,891 shares of the industrial products company’s stock worth $161,000 after buying an additional 893 shares during the last quarter. Quantbot Technologies LP acquired a new position in MSC Industrial Direct during the first quarter worth $239,000. Finally, EHP Funds Inc. acquired a new position in MSC Industrial Direct during the first quarter worth $264,000. Institutional investors own 76.92% of the company’s stock.

Several equities research analysts recently issued reports on MSM shares. StockNews.com raised shares of MSC Industrial Direct from a “hold” rating to a “buy” rating in a report on Tuesday, May 17th. KeyCorp lifted their price target on shares of MSC Industrial Direct from $91.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, March 31st. Loop Capital boosted their target price on shares of MSC Industrial Direct from $88.00 to $93.00 in a report on Thursday, March 31st. Finally, Robert W. Baird boosted their target price on shares of MSC Industrial Direct from $103.00 to $105.00 in a report on Thursday, March 31st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $102.20.

About MSC Industrial Direct (Get Rating)

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, and the United Kingdom. Its 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.

See Also

Dividend History for MSC Industrial Direct (NYSE:MSM)

Receive News & Ratings for MSC Industrial Direct Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MSC Industrial Direct and related companies with MarketBeat.com's FREE daily email newsletter.