MSC Industrial Direct Co., Inc. (MSM) to Issue Quarterly Dividend of $0.85 on November 27th

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 dividend on an annualized basis and a yield of 4.08%. This is a positive change from MSC Industrial Direct’s previous quarterly dividend of $0.83.

MSC Industrial Direct has increased its dividend payment by an average of 2.2% per year over the last three years. MSC Industrial Direct has a payout ratio of 69.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect MSC Industrial Direct to earn $4.81 per share next year, which means the company should continue to be able to cover its $3.32 annual dividend with an expected future payout ratio of 69.0%.

MSC Industrial Direct Stock Performance

Shares of MSM stock opened at $83.35 on Friday. The company has a current ratio of 2.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.21. MSC Industrial Direct has a 12-month low of $75.05 and a 12-month high of $105.77. The company has a market cap of $4.68 billion, a price-to-earnings ratio of 16.18 and a beta of 0.86. The stock has a 50 day simple moving average of $81.73 and a 200-day simple moving average of $85.37.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MSM. Stephens reaffirmed an “overweight” rating and issued a $110.00 target price on shares of MSC Industrial Direct in a report on Friday, June 14th. JPMorgan Chase & Co. lowered their price target on shares of MSC Industrial Direct from $81.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Robert W. Baird cut their price objective on MSC Industrial Direct from $95.00 to $84.00 and set a “neutral” rating for the company in a research report on Friday, June 14th. Loop Capital lowered their target price on MSC Industrial Direct from $80.00 to $75.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Finally, KeyCorp cut MSC Industrial Direct from an “overweight” rating to a “sector weight” rating in a report on Monday, June 17th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $90.20.

Insider Buying and Selling at MSC Industrial Direct

In other news, SVP Kimberly Shacklett sold 4,885 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $84.60, for a total transaction of $413,271.00. Following the sale, the senior vice president now owns 12,897 shares in the company, valued at $1,091,086.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 18.80% of the stock is currently owned by insiders.

MSC Industrial Direct Company Profile

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.