MSC Industrial Direct Co., Inc. (NYSE:MSM – Get Free Report) announced a quarterly dividend on Wednesday, December 18th,RTT News reports. Shareholders of record on Wednesday, January 15th will be given a dividend of 0.85 per share by the industrial products company on Wednesday, January 29th. This represents a $3.40 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend is Wednesday, January 15th.
MSC Industrial Direct has increased its dividend by an average of 3.6% per year over the last three years. MSC Industrial Direct has a payout ratio of 84.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect MSC Industrial Direct to earn $4.16 per share next year, which means the company should continue to be able to cover its $3.40 annual dividend with an expected future payout ratio of 81.7%.
MSC Industrial Direct Stock Performance
MSC Industrial Direct stock opened at $80.02 on Monday. The stock has a fifty day moving average price of $82.07 and a two-hundred day moving average price of $81.85. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.96 and a quick ratio of 0.90. MSC Industrial Direct has a 52-week low of $72.79 and a 52-week high of $104.76. The firm has a market capitalization of $4.47 billion, a P/E ratio of 17.47 and a beta of 0.91.
Wall Street Analyst Weigh In
MSM has been the topic of a number of research analyst reports. Stephens lowered shares of MSC Industrial Direct from an “overweight” rating to an “equal weight” rating and set a $85.00 price objective on the stock. in a report on Wednesday, December 4th. JPMorgan Chase & Co. lowered their price objective on MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Finally, Robert W. Baird raised their target price on shares of MSC Industrial Direct from $84.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating, According to MarketBeat, MSC Industrial Direct currently has an average rating of “Hold” and an average target price of $81.00.
Read Our Latest Stock Report on MSM
Insider Activity
In other news, CEO Erik Gershwind sold 50,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $90.36, for a total value of $4,518,000.00. Following the sale, the chief executive officer now directly owns 1,402,849 shares of the company’s stock, valued at approximately $126,761,435.64. This represents a 3.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Philip Peller sold 900 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $89.07, for a total value of $80,163.00. Following the transaction, the director now directly owns 4,044 shares in the company, valued at approximately $360,199.08. This trade represents a 18.20 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 18.30% of the company’s stock.
About MSC Industrial Direct
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.
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