MSC Industrial Direct Co., Inc. (NYSE:MSM) expects quarterly dividend of $0.75

MSC Industrial Direct Co., Inc. (NYSE: MSM – Get a rating) declared a quarterly dividend on Tuesday, June 21, Zacks reports. Shareholders of record on Tuesday, July 12 will receive a dividend of 0.75 per share from the industrial products company on Tuesday, July 26. This represents a dividend of $3.00 on an annualized basis and a yield of 4.08%. The ex-dividend date is Monday, July 11.

MSC Industrial Direct has a payout ratio of 46.9%, which means that its dividend is sufficiently covered by earnings. Research analysts expect MSC Industrial Direct to earn $6.46 per share next year, meaning the company should continue to be able to cover its $3.00 annual dividend with a ratio expected future payout of 46.4%.

MSM shares opened at $73.46 on Thursday. The company has a current ratio of 2.37, a quick ratio of 1.27 and a debt ratio of 0.47. The stock has a market capitalization of $4.10 billion, a P/E ratio of 13.89 and a beta of 1.00. The company has a 50-day moving average of $82.35 and a two-hundred-day moving average of $82.10. MSC Industrial Direct has a 12 month minimum of $72.34 and a 12 month maximum of $92.04.

MSC Industrial Direct (NYSE: MSM – Get a rating) last announced its results on Wednesday, March 30. The industrial products company reported earnings per share (EPS) of $1.29 for the quarter, beating analyst consensus estimates of $1.25 by $0.04. The company posted revenue of $862.50 million in the quarter, compared to $856.03 million expected by analysts. MSC Industrial Direct achieved a net margin of 8.70% and a return on equity of 24.70%. The company’s quarterly revenue increased by 11.4% compared to the same quarter last year. In the same quarter a year earlier, the company posted earnings per share of $1.03. As a group, analysts expect MSC Industrial Direct to post EPS of 6.08 for the current fiscal year.

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A number of stock analysts have published reports on MSM shares. StockNews.com upgraded shares of MSC Industrial Direct from a “hold” rating to a “buy” rating in a Tuesday, May 17 research report. Loop Capital raised its price target on shares of MSC Industrial Direct from $88.00 to $93.00 in a Thursday, March 31 report. Robert W. Baird raised his price target on MSC Industrial Direct shares from $103.00 to $105.00 in a Thursday, March 31 report. Finally, KeyCorp raised its price target on MSC Industrial Direct shares from $91.00 to $100.00 and gave the company an “overweight” rating in a Thursday, March 31 report. Two analysts gave the stock a hold rating and four gave the company a buy rating. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $102.20.

Separately, director Louise K. Goeser sold 2,440 shares of the company in a transaction dated Wednesday, May 4. The shares were sold at an average price of $82.47, for a total transaction of $201,226.80. Following completion of the transaction, the administrator now owns 9,763 shares of the company, valued at $805,154.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Also, director Michael Jacobson bought 4,654 shares in a trade dated Thursday, May 12. The shares were purchased at an average price of $79.19 per share, with a total value of $368,550.26. As a result of the transaction, the administrator now directly owns 72,450 shares of the company, valued at approximately $5,737,315.50. Disclosure of this purchase can be found here. In the past 90 days, insiders have sold 42,325 shares of the company valued at $3,629,109. 28.28% of the shares are held by insiders.

A number of institutional investors and hedge funds have recently changed their positions in the stock. Raymond James Financial Services Advisors Inc. increased its position in MSC Industrial Direct shares by 465.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 19,687 shares of the industrial products company worth $1,678,000 after buying an additional 16,205 shares last quarter. Cambridge Investment Research Advisors Inc. increased its holdings of MSC Industrial Direct shares by 3.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,636 shares of the industrial products company valued at $1,162,000 after acquiring 447 additional shares during the period. PNC Financial Services Group Inc. increased its equity stake in MSC Industrial Direct by 115.7% during the first quarter. PNC Financial Services Group Inc. now owns 1,514 shares of the industrial products company valued at $128,000 after acquiring 812 additional shares during the period. Natixis Advisors LP increased its equity stake in MSC Industrial Direct by 14.1% during the first quarter. Natixis Advisors LP now owns 24,042 shares of the industrial products company valued at $2,049,000 after acquiring an additional 2,974 shares during the period. Finally, MetLife Investment Management LLC increased its equity stake in MSC Industrial Direct by 34.2% during the first quarter. MetLife Investment Management LLC now owns 30,438 shares of the industrial products company valued at $2,594,000 after acquiring an additional 7,749 shares during the period. Hedge funds and other institutional investors own 76.92% of the company’s shares.

About MSC Industrial Direct (Get a rating)

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 and the United Kingdom. Its MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat products, raw materials, abrasives, hand and power machine tools, safety and maintenance supplies, plumbing supplies, material handling products, power transmission components and electrical equipment.

Further reading

Dividend history for MSC Industrial Direct (NYSE:MSM)

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