MSC Industrial Direct Co., Inc. (NYSE:MSM) to Issue Dividend Increase – $0.85 Per Share

MSC Industrial Direct Co., Inc. (NYSE:MSM) declared a quarterly dividend on Thursday, October 10th,RTT News reports. Shareholders of record on Wednesday, November 13th will be given a dividend of 0.85 per share by the industrial products company on Wednesday, November 27th. This represents a $3.40 annualized dividend and a yield of 3.77%. The ex-dividend date is Wednesday, November 13th. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.83.

MSC Industrial Direct has increased its dividend by an average of 2.2% annually over the last three years. MSC Industrial Direct has a dividend payout ratio of 93.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect MSC Industrial Direct to earn $4.18 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 81.3%.

MSC Industrial Direct Trading Up 1.4 %

MSC Industrial Direct stock opened at $90.21 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.90 and a current ratio of 1.96. The firm has a market cap of $5.04 billion, a price-to-earnings ratio of 19.70 and a beta of 0.87. MSC Industrial Direct has a 1 year low of $75.05 and a 1 year high of $104.76. The firm’s 50 day moving average price is $82.46 and its two-hundred day moving average price is $83.58.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings results on Thursday, October 24th. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.05). MSC Industrial Direct had a return on equity of 19.35% and a net margin of 6.77%. The business had revenue of $952.30 million during the quarter, compared to analyst estimates of $959.74 million. During the same quarter last year, the firm posted $1.64 EPS. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. On average, research analysts predict that MSC Industrial Direct will post 3.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MSM has been the subject of a number of research analyst reports. Robert W. Baird increased their target price on MSC Industrial Direct from $84.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. lowered their target price on shares of MSC Industrial Direct from $87.00 to $73.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, MSC Industrial Direct currently has an average rating of “Hold” and a consensus price target of $90.20.

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.