MSC Industrial Direct Co Inc (NYSE:MSM) announced a quarterly dividend on Wednesday, January 3rd, RTT News reports. Stockholders of record on Tuesday, January 16th will be given a dividend of 0.58 per share by the industrial products company on Tuesday, January 30th. This represents a $2.32 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Friday, January 12th. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.48.
MSC Industrial Direct has raised its dividend payment by an average of 9.6% annually over the last three years and has raised its dividend every year for the last 7 years. MSC Industrial Direct has a payout ratio of 48.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect MSC Industrial Direct to earn $5.87 per share next year, which means the company should continue to be able to cover its $2.32 annual dividend with an expected future payout ratio of 39.5%.
MSC Industrial Direct (NYSE:MSM) traded down $2.14 during mid-day trading on Friday, hitting $91.37. 676,676 shares of the stock traded hands, compared to its average volume of 970,064. The stock has a market cap of $5,300.09 and a P/E ratio of 22.07. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.04. MSC Industrial Direct has a fifty-two week low of $65.42 and a fifty-two week high of $105.70.
MSC Industrial Direct (NYSE:MSM) last announced its quarterly earnings results on Wednesday, January 10th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.06 by ($0.01). MSC Industrial Direct had a return on equity of 19.37% and a net margin of 7.97%. The firm had revenue of $768.60 million for the quarter, compared to analysts’ expectations of $770.95 million. During the same period last year, the company posted $0.95 earnings per share. The business’s quarterly revenue was up 12.0% on a year-over-year basis. equities analysts forecast that MSC Industrial Direct will post 5 earnings per share for the current year.
A number of brokerages recently issued reports on MSM. BMO Capital Markets increased their price target on shares of MSC Industrial Direct from $83.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, November 1st. TheStreet raised shares of MSC Industrial Direct from a “c+” rating to a “b-” rating in a report on Tuesday, November 28th. Wells Fargo & Co set a $86.00 price objective on shares of MSC Industrial Direct and gave the company a “hold” rating in a report on Wednesday, November 1st. Stephens set a $114.00 price objective on shares of MSC Industrial Direct and gave the company a “buy” rating in a report on Wednesday, January 10th. Finally, KeyCorp reaffirmed a “hold” rating on shares of MSC Industrial Direct in a report on Tuesday, October 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. MSC Industrial Direct presently has an average rating of “Hold” and an average price target of $95.92.
MSC Industrial Direct announced that its Board of Directors has initiated a share buyback program on Wednesday, January 10th that permits the company to buyback 2,000,000 outstanding shares. This buyback authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
In related news, CFO Rustom Jilla sold 2,500 shares of the firm’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $99.00, for a total transaction of $247,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mitchell Jacobson sold 13,582 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $81.91, for a total transaction of $1,112,501.62. The disclosure for this sale can be found here. Insiders sold 975,112 shares of company stock valued at $89,557,641 over the last quarter. Company insiders own 31.28% of the company’s stock.
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MSC Industrial Direct Company Profile
MSC Industrial Direct Co, Inc is a North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. The Company’s range of MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, 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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