MSC Industrial Direct Co Inc (NYSE:MSM) Raises Dividend to $0.75 Per Share

MSC Industrial Direct Co Inc (NYSE:MSM) announced a quarterly dividend on Wednesday, July 10th, RTT News reports. Stockholders of record on Tuesday, July 23rd will be paid a dividend of 0.75 per share by the industrial products company on Tuesday, August 6th. This represents a $3.00 annualized dividend and a dividend yield of 4.21%. The ex-dividend date 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 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 payout ratio of 59.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect MSC Industrial Direct to earn $5.48 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 54.7%.

Shares of NYSE:MSM opened at $71.34 on Friday. MSC Industrial Direct has a one year low of $67.25 and a one year high of $90.25. The business’s 50 day simple moving average is $72.37. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.35 and a current ratio of 2.50. The firm has a market cap of $3.94 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 1.08 and a beta of 0.94.

MSC Industrial Direct (NYSE:MSM) last issued its quarterly earnings results on Wednesday, July 10th. The industrial products company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.50 by ($0.05). MSC Industrial Direct had a return on equity of 21.08% and a net margin of 8.79%. The business had revenue of $866.50 million for the quarter, compared to analyst estimates of $881.62 million. During the same quarter in the prior year, the firm earned $1.39 EPS. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, sell-side analysts anticipate that MSC Industrial Direct will post 5.28 EPS for the current year.

A number of research analysts recently issued reports on MSM shares. 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 report on Thursday, April 11th. Buckingham Research decreased their price objective on shares of PJT Partners from $49.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Stephens started coverage on shares of Itron in a report on Monday, July 8th. They set an “equal weight” rating and a $64.00 price objective for the company. ValuEngine upgraded shares of VESTAS WIND SYS/ADR from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Finally, Raymond James restated a “hold” rating on shares of PrairieSky Royalty in a report on Thursday, July 11th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $80.70.

In other news, EVP Steven N. Baruch sold 5,404 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $82.00, for a total value of $443,128.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Douglas E. Jones sold 2,126 shares of the company’s 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 completion of the transaction, the executive vice president now owns 7,496 shares of the company’s stock, valued at approximately $625,916. The disclosure for this sale can be found here. 27.96% of the stock is currently owned by insiders.

About MSC Industrial Direct

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.

Featured Story: What are the benefits of a portfolio tracker?

Dividend History for MSC Industrial Direct (NYSE:MSM)

Receive News & Ratings for MSC Industrial Direct Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MSC Industrial Direct and related companies with's FREE daily email newsletter.