MSC Industrial Direct Co., Inc. (MSM) to Issue Quarterly Dividend of $0.83 on April 23rd

MSC Industrial Direct Co., Inc. (NYSE:MSMGet Free Report) declared a quarterly dividend on Tuesday, March 26th, NASDAQ reports. Shareholders of record on Tuesday, April 9th will be paid a dividend of 0.83 per share by the industrial products company on Tuesday, April 23rd. This represents a $3.32 annualized dividend and a yield of 3.34%. The ex-dividend date is Monday, April 8th.

MSC Industrial Direct has increased its dividend by an average of 10.0% per year over the last three years and has increased its dividend every year for the last 2 years. MSC Industrial Direct has a dividend payout ratio of 50.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect MSC Industrial Direct to earn $6.57 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 50.5%.

MSC Industrial Direct Stock Performance

NYSE MSM opened at $99.50 on Thursday. MSC Industrial Direct has a 52-week low of $81.66 and a 52-week high of $105.77. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.89 and a current ratio of 2.02. The company has a market capitalization of $5.61 billion, a P/E ratio of 16.92 and a beta of 0.96. The company has a fifty day moving average of $98.60 and a 200-day moving average of $98.31.

MSC Industrial Direct (NYSE:MSMGet Free Report) last posted its quarterly earnings results on Tuesday, January 9th. The industrial products company reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.05). The business had revenue of $954.00 million during the quarter, compared to the consensus estimate of $971.31 million. MSC Industrial Direct had a return on equity of 23.46% and a net margin of 8.27%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.48 earnings per share. As a group, equities research analysts predict that MSC Industrial Direct will post 5.89 EPS for the current fiscal year.

Insider Buying and Selling

In other MSC Industrial Direct news, Director Mitchell Jacobson sold 24,501 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $99.31, for a total transaction of $2,433,194.31. Following the transaction, the director now owns 1,683,810 shares of the company’s stock, valued at approximately $167,219,171.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other MSC Industrial Direct news, Director Mitchell Jacobson sold 24,501 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $99.31, for a total transaction of $2,433,194.31. Following the transaction, the director now owns 1,683,810 shares of the company’s stock, valued at approximately $167,219,171.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Erik Gershwind sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $96.00, for a total transaction of $720,000.00. Following the transaction, the chief executive officer now directly owns 1,432,038 shares in the company, valued at approximately $137,475,648. The disclosure for this sale can be found here. Insiders have sold 254,503 shares of company stock valued at $24,841,663 in the last 90 days. Company insiders own 18.80% of the company’s stock.

Institutional Trading of MSC Industrial Direct

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in MSC Industrial Direct by 5.4% during the 1st quarter. BlackRock Inc. now owns 6,359,260 shares of the industrial products company’s stock valued at $534,178,000 after acquiring an additional 327,944 shares during the period. Vanguard Group Inc. lifted its stake in MSC Industrial Direct by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 4,476,878 shares of the industrial products company’s stock valued at $325,962,000 after acquiring an additional 72,338 shares during the period. State Street Corp lifted its stake in shares of MSC Industrial Direct by 1.8% in the 1st quarter. State Street Corp now owns 1,367,455 shares of the industrial products company’s stock valued at $114,866,000 after purchasing an additional 24,040 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of MSC Industrial Direct by 10.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,041,684 shares of the industrial products company’s stock valued at $85,106,000 after purchasing an additional 98,906 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of MSC Industrial Direct by 0.5% in the 1st quarter. First Trust Advisors LP now owns 1,023,981 shares of the industrial products company’s stock valued at $87,253,000 after purchasing an additional 5,411 shares during the period. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, KeyCorp dropped their price objective on shares of MSC Industrial Direct from $105.00 to $102.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 10th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, MSC Industrial Direct currently has a consensus rating of “Moderate Buy” and an average target price of $105.00.

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About MSC Industrial Direct

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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.

See Also

Dividend History for MSC Industrial Direct (NYSE:MSM)

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