MSC Industrial Direct Co Inc (NYSE:MSM) announced a quarterly dividend on Wednesday, July 10th, RTT News reports. Investors of record on Tuesday, July 23rd will be given a dividend of 0.75 per share by the industrial products company on Tuesday, August 6th. This represents a $3.00 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date of this dividend is Monday, July 22nd. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.63.
MSC Industrial Direct has raised its dividend payment by an average of 13.3% per year over the last three years and has increased its dividend annually for the last 8 consecutive years. MSC Industrial Direct has a dividend payout ratio of 49.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect MSC Industrial Direct to earn $6.02 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 41.9%.
MSM opened at $71.08 on Friday. The stock has a market capitalization of $3.84 billion, a P/E ratio of 13.99, a price-to-earnings-growth ratio of 1.25 and a beta of 0.94. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.50 and a quick ratio of 1.18. The stock has a 50-day simple moving average of $72.40. MSC Industrial Direct has a twelve month low of $67.25 and a twelve month high of $90.25.
In other MSC Industrial Direct news, EVP Steven N. Baruch sold 5,404 shares of MSC Industrial Direct stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $82.00, for a total transaction of $443,128.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Douglas E. Jones sold 2,126 shares of MSC Industrial Direct stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $83.50, for a total transaction of $177,521.00. Following the sale, the executive vice president now owns 7,496 shares of the company’s stock, valued at $625,916. The disclosure for this sale can be found here. Insiders own 27.96% of the company’s stock.
Several equities analysts recently commented on MSM shares. Gordon Haskett cut shares of MSC Industrial Direct from a “buy” rating to a “hold” rating and set a $72.02 price objective for the company. in a research note on Monday, June 10th. Robert W. Baird boosted their price objective on shares of Atlassian from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Wells Fargo & Co set a $70.00 price objective on shares of MSC Industrial Direct and gave the company a “hold” rating in a research note on Thursday. Buckingham Research reduced their price objective on shares of PJT Partners from $49.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Zacks Investment Research raised shares of SCHNEIDER ELEC /ADR from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Friday, July 5th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. MSC Industrial Direct has a consensus rating of “Hold” and a consensus price target of $82.80.
MSC Industrial Direct Company Profile
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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