MSC Industrial Direct Co., Inc. (MSM) to Issue Quarterly Dividend of $0.85 on April 23rd

MSC Industrial Direct Co., Inc. (NYSE:MSM) announced a quarterly dividend on Wednesday, March 26th, RTT News reports. Investors of record on Wednesday, April 9th will be given a dividend of 0.85 per share by the industrial products company on Wednesday, April 23rd. This represents a $3.40 annualized dividend and a dividend yield of 4.22%. The ex-dividend date is Wednesday, April 9th.

MSC Industrial Direct has raised its dividend by an average of 3.9% annually over the last three years. MSC Industrial Direct has a payout ratio of 83.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect MSC Industrial Direct to earn $4.05 per share next year, which means the company should continue to be able to cover its $3.40 annual dividend with an expected future payout ratio of 84.0%.

MSC Industrial Direct Price Performance

NYSE MSM opened at $80.49 on Friday. MSC Industrial Direct has a fifty-two week low of $72.79 and a fifty-two week high of $99.89. The stock’s 50-day moving average is $80.22 and its two-hundred day moving average is $81.46. The firm has a market cap of $4.50 billion, a P/E ratio of 19.21 and a beta of 0.90. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.93 and a quick ratio of 0.91.

MSC Industrial Direct (NYSE:MSM) last announced its earnings results on Wednesday, January 8th. The industrial products company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.73 by $0.13. MSC Industrial Direct had a net margin of 6.21% and a return on equity of 17.80%. The firm had revenue of $928.50 million for the quarter, compared to the consensus estimate of $904.90 million. During the same quarter last year, the firm posted $1.25 EPS. The business’s quarterly revenue was down 2.7% on a year-over-year basis. On average, analysts anticipate that MSC Industrial Direct will post 3.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MSM shares. Stephens lowered shares of MSC Industrial Direct from an “overweight” rating to an “equal weight” rating and set a $85.00 price objective for the company. in a research report on Wednesday, December 4th. Wolfe Research initiated coverage on MSC Industrial Direct in a research note on Thursday, January 16th. They issued an “outperform” rating and a $95.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $83.80.

About MSC Industrial Direct

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, the United Kingdom, and internationally. The company's MRO products include 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.