MSC Industrial Direct Co Inc (NYSE:MSM) declared a quarterly dividend on Wednesday, December 18th, Wall Street Journal reports. Shareholders of record on Wednesday, January 22nd will be given a dividend of 0.75 per share by the industrial products company on Wednesday, February 5th. This represents a $3.00 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date is Tuesday, January 21st.
MSC Industrial Direct has raised its dividend by an average of 19.9% per year over the last three years and has raised its dividend annually for the last 8 consecutive years. MSC Industrial Direct has a dividend payout ratio of 56.7% meaning its dividend is sufficiently covered by earnings. Analysts expect MSC Industrial Direct to earn $5.13 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 58.5%.
NYSE MSM opened at $76.89 on Monday. The stock has a market cap of $4.26 billion, a PE ratio of 15.20, a P/E/G ratio of 1.06 and a beta of 0.94. MSC Industrial Direct has a fifty-two week low of $64.59 and a fifty-two week high of $86.87. The business has a 50 day moving average price of $75.90 and a two-hundred day moving average price of $72.48. The company has a quick ratio of 1.56, a current ratio of 2.90 and a debt-to-equity ratio of 0.18.
MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings results on Wednesday, January 8th. The industrial products company reported $1.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.04. The firm had revenue of $823.60 million during the quarter, compared to analysts’ expectations of $820.84 million. MSC Industrial Direct had a return on equity of 19.67% and a net margin of 8.35%. MSC Industrial Direct’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.33 EPS. Sell-side analysts anticipate that MSC Industrial Direct will post 4.86 EPS for the current fiscal year.
Several research firms have recently commented on MSM. Zacks Investment Research cut MSC Industrial Direct from a “hold” rating to a “sell” rating in a research note on Friday, January 10th. Wells Fargo & Co set a $60.00 target price on MSC Industrial Direct and gave the company a “sell” rating in a research note on Friday, October 25th. ValuEngine upgraded MSC Industrial Direct from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. increased their target price on MSC Industrial Direct from $78.00 to $79.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Finally, Buckingham Research reduced their target price on MSC Industrial Direct from $70.00 to $69.00 and set a “neutral” rating for the company in a research note on Tuesday, October 8th. Three analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. MSC Industrial Direct has an average rating of “Hold” and a consensus price target of $75.56.
In other MSC Industrial Direct news, CFO Rustom Jilla sold 7,907 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $75.51, for a total value of $597,057.57. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Charles Bonomo sold 24,211 shares of the stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $77.50, for a total value of $1,876,352.50. The disclosure for this sale can be found here. Insiders have sold 82,913 shares of company stock worth $6,343,493 over the last 90 days. 28.75% of the stock is currently owned by company insiders.
About MSC Industrial Direct
MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes metalworking and maintenance, repair, and operations (MRO) products in the United States, Canada, and the United Kingdom. The company's MRO products comprise 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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