MSC Industrial Direct Company, Inc. (NYSE:MSM) Declares Quarterly Dividend of $0.87

MSC Industrial Direct Company, Inc. (NYSE:MSM) announced a quarterly dividend on Tuesday, June 16th. Shareholders of record on Wednesday, July 8th will be given a dividend of 0.87 per share by the industrial products company on Wednesday, July 22nd. This represents a c) annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Wednesday, July 8th.

MSC Industrial Direct has decreased its dividend by an average of 0.2%annually over the last three years and has increased its dividend annually for the last 3 consecutive years. MSC Industrial Direct has a payout ratio of 89.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect MSC Industrial Direct to earn $4.95 per share next year, which means the company should continue to be able to cover its $3.48 annual dividend with an expected future payout ratio of 70.3%.

MSC Industrial Direct Price Performance

MSC Industrial Direct stock opened at $117.49 on Wednesday. The stock has a market cap of $6.56 billion, a price-to-earnings ratio of 31.58 and a beta of 0.84. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.73 and a quick ratio of 0.78. MSC Industrial Direct has a 1 year low of $78.80 and a 1 year high of $119.13. The firm has a 50-day moving average of $105.02 and a two-hundred day moving average of $94.28.

MSC Industrial Direct (NYSE:MSM) last released its quarterly earnings data on Wednesday, April 1st. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.02). MSC Industrial Direct had a net margin of 5.42% and a return on equity of 16.06%. The company had revenue of $917.77 million during the quarter, compared to analysts’ expectations of $931.69 million. During the same period last year, the firm earned $0.72 earnings per share. MSC Industrial Direct’s quarterly revenue was up 2.9% on a year-over-year basis. On average, research analysts forecast that MSC Industrial Direct will post 4.33 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MSM. Auto Owners Insurance Co raised its stake in shares of MSC Industrial Direct by 12,181.8% during the 4th quarter. Auto Owners Insurance Co now owns 3,254,670 shares of the industrial products company’s stock worth $273,718,000 after acquiring an additional 3,228,170 shares in the last quarter. Norges Bank acquired a new position in MSC Industrial Direct during the 4th quarter valued at approximately $59,380,000. Alberta Investment Management Corp increased its stake in MSC Industrial Direct by 213.7% during the 4th quarter. Alberta Investment Management Corp now owns 619,600 shares of the industrial products company’s stock valued at $52,108,000 after purchasing an additional 422,100 shares in the last quarter. SG Capital Management LLC increased its stake in MSC Industrial Direct by 867.0% during the 3rd quarter. SG Capital Management LLC now owns 360,988 shares of the industrial products company’s stock valued at $33,261,000 after purchasing an additional 323,659 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in MSC Industrial Direct by 20.9% during the 1st quarter. First Trust Advisors LP now owns 1,773,133 shares of the industrial products company’s stock valued at $163,607,000 after purchasing an additional 306,436 shares in the last quarter. Institutional investors own 79.26% of the company’s stock.

About MSC Industrial Direct

MSC Industrial Direct Co, Inc (NYSE: MSM) is a leading distributor of metalworking and maintenance, repair and operations (MRO) products serving a broad range of industrial customers across North America. The company offers an extensive portfolio of cutting tools, abrasives, measuring and inspection instruments, fasteners, safety supplies and other essential components used in manufacturing, metalworking and production environments. MSC delivers products through a multi-channel distribution network, including an extensive branch system, e-commerce platform and dedicated sales force.

In addition to its core product offerings, MSC Industrial Direct provides value-added services designed to improve productivity and reduce downtime for its customers.