MSC Industrial Direct Co Inc (NYSE:MSM) declared a quarterly dividend on Thursday, October 18th, RTT News reports. Shareholders of record on Tuesday, November 13th will be paid a dividend of 0.63 per share by the industrial products company on Tuesday, November 27th. This represents a $2.52 annualized dividend and a yield of 3.00%. The ex-dividend date is Friday, November 9th. This is a boost from MSC Industrial Direct’s previous quarterly dividend of $0.58.
MSC Industrial Direct has increased its dividend by an average of 9.6% per year 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 49.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect MSC Industrial Direct to earn $6.39 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 39.4%.
Shares of NYSE:MSM opened at $83.88 on Friday. The company has a current ratio of 2.34, a quick ratio of 1.14 and a debt-to-equity ratio of 0.22. MSC Industrial Direct has a 1-year low of $75.34 and a 1-year high of $99.94. The company has a market cap of $4.74 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 0.95 and a beta of 0.64.
MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings results on Tuesday, October 30th. The industrial products company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.03. MSC Industrial Direct had a net margin of 10.28% and a return on equity of 21.36%. The business had revenue of $838.00 million for the quarter, compared to the consensus estimate of $838.88 million. During the same quarter in the previous year, the firm earned $1.07 earnings per share. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, equities research analysts predict that MSC Industrial Direct will post 5.9 EPS for the current fiscal year.
In other news, Director Denis F. Kelly sold 1,500 shares of the business’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $88.43, for a total value of $132,645.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 31.28% of the stock is currently owned by insiders.
Several equities analysts have weighed in on MSM shares. BMO Capital Markets lowered their price target on shares of MSC Industrial Direct from $104.00 to $92.00 and set a “market perform” rating on the stock in a report on Thursday, July 12th. Wells Fargo & Co lowered their price target on shares of MSC Industrial Direct from $95.00 to $87.00 and set a “market perform” rating on the stock in a report on Thursday, July 12th. Northcoast Research set a $95.00 price target on shares of MSC Industrial Direct and gave the company a “buy” rating in a report on Friday, July 13th. ValuEngine raised shares of MSC Industrial Direct from a “sell” rating to a “hold” rating in a report on Saturday, July 14th. Finally, Zacks Investment Research raised shares of MSC Industrial Direct from a “sell” rating to a “hold” rating in a report on Sunday, July 15th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $100.00.
MSC Industrial Direct Company Profile
MSC Industrial Direct Co, Inc, together with its subsidiaries, distributes various ranges of metalworking and maintenance, repair, and operations (MRO) products primarily 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, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components, and electrical supplies.
Read More: What is a Stop Order?
Receive News & Ratings for MSC Industrial Direct Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MSC Industrial Direct and related companies with MarketBeat.com's FREE daily email newsletter.