MSC Industrial Direct Company, Inc. (NYSE:MSM) Announces Dividend Increase - $0.87 Per Share

Key Points

• MSC Industrial Direct Company, Inc. announced a quarterly dividend increase to $0.87 per share, representing a 2.4% rise from the previous dividend of $0.85.
• The company has a current payout ratio of 87.0%, which is expected to decrease to 84.0% based on projected earnings for next year.
• Analysts have mixed ratings for MSC Industrial Direct, with a consensus rating of "Hold" and an average price target of $90.33.

MSC Industrial Direct Company, Inc. (NYSE:MSM - Get Free Report) announced a quarterly dividend on Tuesday, October 7th. Investors of record on Wednesday, November 12th will be given a dividend of 0.87 per share by the industrial products company on Wednesday, November 26th. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Wednesday, November 12th. This is a 2.4% increase from MSC Industrial Direct's previous quarterly dividend of $0.85.

MSC Industrial Direct has a 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 Trading Down 2.1%

MSC Industrial Direct stock opened at $90.17 on Wednesday. MSC Industrial Direct has a 52 week low of $68.10 and a 52 week high of $94.31. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 1.92. The stock has a market capitalization of $5.02 billion, a P/E ratio of 25.47 and a beta of 0.95. The stock has a 50-day simple moving average of $89.66 and a 200 day simple moving average of $84.04.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Wolfe Research restated a "peer perform" rating on shares of MSC Industrial Direct in a report on Wednesday. Stephens upped their price target on shares of MSC Industrial Direct from $85.00 to $90.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 2nd. Loop Capital increased their price objective on MSC Industrial Direct from $74.00 to $84.00 and gave the company a "hold" rating in a report on Wednesday, July 2nd. Zacks Research downgraded MSC Industrial Direct from a "strong-buy" rating to a "hold" rating in a report on Friday, September 5th. Finally, Robert W. Baird increased their price target on MSC Industrial Direct from $84.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $90.33.

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.

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