MSC Industrial Direct Co., Inc. Declares Quarterly Dividend of $0.83 (NYSE:MSM)

MSC Industrial Direct Co., Inc. (NYSE:MSM) announced a quarterly dividend on Tuesday, June 25th, NASDAQ reports. Shareholders of record on Tuesday, July 9th will be paid a dividend of 0.83 per share by the industrial products company on Tuesday, July 23rd. This represents a $3.32 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date is Tuesday, July 9th.

MSC Industrial Direct has increased its dividend payment by an average of 2.2% per year over the last three years. MSC Industrial Direct has a payout ratio of 62.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect MSC Industrial Direct to earn $5.32 per share next year, which means the company should continue to be able to cover its $3.32 annual dividend with an expected future payout ratio of 62.4%.

MSC Industrial Direct Price Performance

Shares of MSM opened at $78.87 on Thursday. The firm has a market cap of $4.44 billion, a PE ratio of 14.16 and a beta of 0.89. The company has a current ratio of 2.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.21. The firm has a fifty day simple moving average of $87.74 and a two-hundred day simple moving average of $94.43. MSC Industrial Direct has a 1-year low of $75.05 and a 1-year high of $105.77.

MSC Industrial Direct (NYSE:MSM) last announced its earnings results on Thursday, March 28th. The industrial products company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.02. The business had revenue of $935.30 million during the quarter, compared to analyst estimates of $946.55 million. MSC Industrial Direct had a net margin of 7.89% and a return on equity of 22.58%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.45 EPS. On average, equities analysts anticipate that MSC Industrial Direct will post 4.89 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Stephens restated an “overweight” rating and issued a $110.00 price objective on shares of MSC Industrial Direct in a research note on Friday, June 14th. Loop Capital downgraded shares of MSC Industrial Direct from a “buy” rating to a “hold” rating and set a $80.00 target price for the company. in a report on Monday, June 17th. Baird R W downgraded shares of MSC Industrial Direct from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 29th. Robert W. Baird dropped their target price on shares of MSC Industrial Direct from $95.00 to $84.00 and set a “neutral” rating for the company in a report on Friday, June 14th. Finally, KeyCorp downgraded shares of MSC Industrial Direct from an “overweight” rating to a “sector weight” rating in a report on Monday, June 17th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, MSC Industrial Direct presently has an average rating of “Hold” and a consensus price target of $93.00.

MSC Industrial Direct Company Profile

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, the United Kingdom, and internationally. The company's 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.