MSC Industrial Direct Co., Inc. (NYSE:MSM) Announces $0.85 Quarterly Dividend

MSC Industrial Direct Co., Inc. (NYSE:MSM) declared a quarterly dividend on Wednesday, March 26th, RTT News reports. Shareholders of record on Wednesday, April 9th will be given a dividend of 0.85 per share by the industrial products company on Wednesday, April 23rd. This represents a $3.40 dividend on an annualized basis and a yield of 4.26%.

MSC Industrial Direct has increased its dividend payment by an average of 3.9% annually over the last three years. MSC Industrial Direct has a dividend payout ratio of 83.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect MSC Industrial Direct to earn $4.05 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 84.0%.

MSC Industrial Direct Price Performance

NYSE MSM traded up $0.69 during trading hours on Wednesday, reaching $79.84. The company’s stock had a trading volume of 590,643 shares, compared to its average volume of 596,860. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of 19.05 and a beta of 0.90. The company’s 50-day moving average is $80.25 and its two-hundred day moving average is $81.48. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.93 and a quick ratio of 0.91. MSC Industrial Direct has a 1-year low of $72.79 and a 1-year high of $100.35.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data on Wednesday, January 8th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.13. The business had revenue of $928.50 million for the quarter, compared to the consensus estimate of $904.90 million. MSC Industrial Direct had a net margin of 6.21% and a return on equity of 17.80%. The company’s revenue was down 2.7% compared to the same quarter last year. During the same period last year, the firm posted $1.25 earnings per share. On average, equities analysts predict that MSC Industrial Direct will post 3.57 EPS for the current year.

Analysts Set New Price Targets

MSM has been the topic of several research reports. Wolfe Research initiated coverage on shares of MSC Industrial Direct in a research note on Thursday, January 16th. They issued an “outperform” rating and a $95.00 price target on the stock. Stephens cut MSC Industrial Direct from an “overweight” rating to an “equal weight” rating and set a $85.00 target price on the stock. in a report on Wednesday, December 4th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $83.80.

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.