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MSC Industrial Direct Co., Inc. (NYSE:MSM) Plans Quarterly Dividend of $0.75

Thursday, June 23, 2022 | MarketBeat

MSC Industrial Direct Co., Inc. (NYSE:MSM - Get Rating) declared a quarterly dividend on Tuesday, June 21st, Zacks reports. Shareholders of record on Tuesday, July 12th will be paid a dividend of 0.75 per share by the industrial products company on Tuesday, July 26th. This represents a $3.00 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date is Monday, July 11th.

MSC Industrial Direct has a payout ratio of 46.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect MSC Industrial Direct to earn $6.46 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 46.4%.

Shares of MSM opened at $73.46 on Thursday. The company has a current ratio of 2.37, a quick ratio of 1.27 and a debt-to-equity ratio of 0.47. The stock has a market cap of $4.10 billion, a P/E ratio of 13.89 and a beta of 1.00. The company has a 50-day moving average of $82.35 and a two-hundred day moving average of $82.10. MSC Industrial Direct has a 12-month low of $72.34 and a 12-month high of $92.04.

MSC Industrial Direct (NYSE:MSM - Get Rating) last announced its earnings results on Wednesday, March 30th. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.04. The company had revenue of $862.50 million during the quarter, compared to analysts' expectations of $856.03 million. MSC Industrial Direct had a net margin of 8.70% and a return on equity of 24.70%. The firm's quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.03 earnings per share. As a group, analysts forecast that MSC Industrial Direct will post 6.08 EPS for the current fiscal year.


A number of equities analysts have issued reports on MSM shares. StockNews.com upgraded shares of MSC Industrial Direct from a "hold" rating to a "buy" rating in a research report on Tuesday, May 17th. Loop Capital lifted their price target on shares of MSC Industrial Direct from $88.00 to $93.00 in a report on Thursday, March 31st. Robert W. Baird lifted their price target on shares of MSC Industrial Direct from $103.00 to $105.00 in a report on Thursday, March 31st. Finally, KeyCorp boosted their target price on shares of MSC Industrial Direct from $91.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, March 31st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $102.20.

In other news, Director Louise K. Goeser sold 2,440 shares of the company's stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $82.47, for a total transaction of $201,226.80. Following the completion of the transaction, the director now owns 9,763 shares in the company, valued at $805,154.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mitchell Jacobson purchased 4,654 shares of the stock in a transaction dated Thursday, May 12th. The shares were purchased at an average price of $79.19 per share, with a total value of $368,550.26. Following the transaction, the director now directly owns 72,450 shares of the company's stock, valued at approximately $5,737,315.50. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 42,325 shares of company stock valued at $3,629,109. 28.28% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. lifted its position in shares of MSC Industrial Direct by 465.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 19,687 shares of the industrial products company's stock worth $1,678,000 after purchasing an additional 16,205 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of MSC Industrial Direct by 3.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,636 shares of the industrial products company's stock valued at $1,162,000 after acquiring an additional 447 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of MSC Industrial Direct by 115.7% during the first quarter. PNC Financial Services Group Inc. now owns 1,514 shares of the industrial products company's stock valued at $128,000 after acquiring an additional 812 shares during the period. Natixis Advisors L.P. lifted its holdings in shares of MSC Industrial Direct by 14.1% during the first quarter. Natixis Advisors L.P. now owns 24,042 shares of the industrial products company's stock valued at $2,049,000 after acquiring an additional 2,974 shares during the period. Finally, MetLife Investment Management LLC lifted its holdings in shares of MSC Industrial Direct by 34.2% during the first quarter. MetLife Investment Management LLC now owns 30,438 shares of the industrial products company's stock valued at $2,594,000 after acquiring an additional 7,749 shares during the period. Hedge funds and other institutional investors own 76.92% of the company's stock.

About MSC Industrial Direct (Get Rating)

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, and the United Kingdom. Its 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.

Further Reading

Dividend History for MSC Industrial Direct (NYSE:MSM)

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