MSC Industrial Direct Company, Inc. (NYSE:MSM – Get Free Report) declared a quarterly dividend on Tuesday, June 16th. Investors 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) dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Wednesday, July 8th.
MSC Industrial Direct has decreased its dividend by an average of 0.2%per year over the last three years and has raised 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 tumble. Research analysts expect MSC Industrial Direct to earn $4.98 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 69.9%.
MSC Industrial Direct Price Performance
MSM stock opened at $115.04 on Thursday. The company has a 50 day simple moving average of $105.50 and a 200 day simple moving average of $94.46. The stock has a market cap of $6.42 billion, a price-to-earnings ratio of 30.92 and a beta of 0.84. MSC Industrial Direct has a 1 year low of $78.80 and a 1 year high of $119.13. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.73 and a quick ratio of 0.78.
Institutional Investors Weigh In On MSC Industrial Direct
Several large investors have recently modified their holdings of MSM. Auto Owners Insurance Co increased its position in shares of MSC Industrial Direct by 12,181.8% during the fourth quarter. Auto Owners Insurance Co now owns 3,254,670 shares of the industrial products company’s stock worth $273,718,000 after buying an additional 3,228,170 shares during the period. Norges Bank acquired a new stake in shares of MSC Industrial Direct during the fourth quarter worth $59,380,000. Alberta Investment Management Corp increased its position in shares of MSC Industrial Direct by 213.7% during the fourth quarter. Alberta Investment Management Corp now owns 619,600 shares of the industrial products company’s stock worth $52,108,000 after buying an additional 422,100 shares during the period. SG Capital Management LLC increased its position in shares of MSC Industrial Direct by 867.0% during the third quarter. SG Capital Management LLC now owns 360,988 shares of the industrial products company’s stock worth $33,261,000 after buying an additional 323,659 shares during the period. Finally, First Trust Advisors LP increased its position in shares of MSC Industrial Direct by 20.9% during the first quarter. First Trust Advisors LP now owns 1,773,133 shares of the industrial products company’s stock worth $163,607,000 after buying an additional 306,436 shares during the period. 79.26% of the stock is currently owned by institutional investors and hedge funds.
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.
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