MSC Industrial Direct Co Inc (NYSE:MSM) declared a quarterly dividend on Tuesday, June 30th, Zacks reports. Stockholders of record on Tuesday, July 14th will be paid a dividend of 0.75 per share by the industrial products company on Tuesday, July 28th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date of this dividend is Monday, July 13th.
MSC Industrial Direct has a payout ratio of 73.3% meaning its dividend is sufficiently covered by earnings. Analysts expect MSC Industrial Direct to earn $4.38 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 68.5%.
NYSE MSM opened at $64.64 on Friday. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of 13.08 and a beta of 1.00. The company has a quick ratio of 0.94, a current ratio of 2.63 and a debt-to-equity ratio of 0.51. MSC Industrial Direct has a twelve month low of $44.93 and a twelve month high of $79.87. The stock has a fifty day simple moving average of $70.80 and a 200 day simple moving average of $66.40.
MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings results on Wednesday, July 8th. The industrial products company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.24. MSC Industrial Direct had a return on equity of 19.58% and a net margin of 8.07%. The firm had revenue of $834.97 million for the quarter, compared to analyst estimates of $835.02 million. Research analysts expect that MSC Industrial Direct will post 4.53 earnings per share for the current fiscal year.
A number of analysts have weighed in on MSM shares. Wells Fargo & Co increased their target price on shares of MSC Industrial Direct from $50.00 to $60.00 in a research report on Thursday. Zacks Investment Research raised shares of MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $77.00 target price for the company in a research note on Wednesday, June 3rd. JPMorgan Chase & Co. boosted their target price on shares of MSC Industrial Direct from $64.00 to $74.00 and gave the company a “neutral” rating in a report on Tuesday, June 23rd. ValuEngine downgraded MSC Industrial Direct from a “hold” rating to a “sell” rating in a report on Thursday, July 2nd. Finally, KeyCorp lifted their price objective on MSC Industrial Direct from $75.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. MSC Industrial Direct presently has an average rating of “Hold” and a consensus target price of $73.10.
In other MSC Industrial Direct news, SVP Edward F. Martin, Jr. sold 653 shares of the stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $64.79, for a total value of $42,307.87. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Douglas E. Jones sold 3,697 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $60.00, for a total value of $221,820.00. The disclosure for this sale can be found here. 28.75% of the stock is currently owned by corporate 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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