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

MSC Industrial Direct Co., Inc. (NYSE:MSM) declared a quarterly dividend on Wednesday, March 26th, RTT News reports. Stockholders of record on Wednesday, April 9th will be paid 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 4.78%. The ex-dividend date is Wednesday, April 9th.

MSC Industrial Direct has increased its dividend by an average of 3.9% per year over the last three years. MSC Industrial Direct has a dividend payout ratio of 87.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 Stock Down 5.3 %

MSM stock opened at $71.19 on Monday. The firm has a market cap of $3.98 billion, a PE ratio of 16.99 and a beta of 0.89. MSC Industrial Direct has a one year low of $70.13 and a one year high of $95.88. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 1.93. The firm’s fifty day moving average is $79.50 and its 200 day moving average is $81.34.

MSC Industrial Direct (NYSE:MSM) last posted its quarterly earnings data on Thursday, April 3rd. The industrial products company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. MSC Industrial Direct had a net margin of 6.21% and a return on equity of 17.80%. The company had revenue of $891.70 million during the quarter, compared to analysts’ expectations of $908.30 million. During the same period in the prior year, the business posted $1.18 earnings per share. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. On average, research analysts forecast that MSC Industrial Direct will post 3.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MSM shares. Robert W. Baird dropped their price objective on shares of MSC Industrial Direct from $90.00 to $84.00 and set a “neutral” rating for the company in a report on Friday. 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. Finally, Loop Capital reduced their target price on MSC Industrial Direct from $83.00 to $74.00 and set a “hold” rating on the stock in a research note on Friday. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $82.20.

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.