MSC Industrial Direct Co Inc (NYSE:MSM) announced a quarterly dividend on Tuesday, June 30th, Zacks reports. Shareholders of record on Tuesday, July 14th will be paid a dividend of 0.75 per share by the industrial products company on Tuesday, July 28th. This represents a $3.00 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date is Monday, July 13th.

MSC Industrial Direct has a payout ratio of 73.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect MSC Industrial Direct to earn $4.31 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 69.6%.

NYSE MSM opened at $64.64 on Friday. The company’s fifty day moving average is $70.80 and its two-hundred day moving average is $66.40. MSC Industrial Direct has a 52-week low of $44.93 and a 52-week high of $79.87. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.63 and a quick ratio of 0.94. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of 13.16 and a beta of 1.00.

MSC Industrial Direct (NYSE:MSM) last released its earnings results on Wednesday, July 8th. The industrial products company reported $1.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.24. MSC Industrial Direct had a net margin of 8.07% and a return on equity of 19.58%. The business had revenue of $834.97 million during the quarter, compared to analysts’ expectations of $835.02 million. As a group, sell-side analysts expect that MSC Industrial Direct will post 4.5 earnings per share for the current fiscal year.

In other news, EVP Douglas E. Jones sold 3,697 shares of MSC Industrial Direct stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $60.00, for a total value of $221,820.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Edward F. Martin, Jr. sold 653 shares of MSC Industrial Direct stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $64.79, for a total transaction of $42,307.87. The disclosure for this sale can be found here. 28.75% of the stock is currently owned by insiders.

Several analysts have recently weighed in on the company. Zacks Investment Research raised MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a report on Wednesday, June 3rd. Robert W. Baird lifted their price target on shares of MSC Industrial Direct from $62.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, April 9th. KeyCorp boosted their price target on shares of MSC Industrial Direct from $75.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. Wells Fargo & Co raised their price objective on shares of MSC Industrial Direct from $50.00 to $60.00 in a report on Thursday. Finally, JPMorgan Chase & Co. upped their target price on shares of MSC Industrial Direct from $64.00 to $74.00 and gave the company a “neutral” rating in a research note on Tuesday, June 23rd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. MSC Industrial Direct has an average rating of “Hold” and an average target price of $72.33.

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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Dividend History for MSC Industrial Direct (NYSE:MSM)

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