MSC Industrial Direct Company, Inc. (NYSE:MSM) to Issue Dividend Increase – $0.89 Per Share

MSC Industrial Direct Company, Inc. (NYSE:MSM) declared a quarterly dividend on Wednesday, October 14th. Shareholders of record on Wednesday, November 11th will be given a dividend of $0.89 per share by the industrial products company on Wednesday, November 25th. This represents a $3.56 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Tuesday, November 10th. This is a 2.3% increase from MSC Industrial Direct’s previous quarterly dividend of $0.87.

MSC Industrial Direct has decreased its dividend payment by an average of 0.2% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. MSC Industrial Direct has a dividend payout ratio of 89.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect MSC Industrial Direct to earn $5.25 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 66.3%.

MSC Industrial Direct Price Performance

Shares of NYSE:MSM opened at $132.46 on Thursday. The company has a 50-day simple moving average of $122.77 and a 200-day simple moving average of $114.98. MSC Industrial Direct has a one year low of $78.80 and a one year high of $132.77. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.72 and a current ratio of 1.55. The stock has a market capitalization of $7.40 billion, a price-to-earnings ratio of 32.00 and a beta of 0.82.

Institutional Trading of MSC Industrial Direct

Several hedge funds and other institutional investors have recently made changes to their positions in MSM. Elevation Wealth Partners LLC increased its stake in shares of MSC Industrial Direct by 89.9% during the second quarter. Elevation Wealth Partners LLC now owns 245 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 116 shares during the period. First Horizon Corp lifted its position in MSC Industrial Direct by 101.0% in the first quarter. First Horizon Corp now owns 400 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 201 shares during the period. Parkside Financial Bank & Trust lifted its position in MSC Industrial Direct by 60.3% in the second quarter. Parkside Financial Bank & Trust now owns 319 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 120 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in MSC Industrial Direct in the first quarter valued at about $119,000. Finally, Compass Financial Management LLC purchased a new stake in MSC Industrial Direct in the 2nd quarter valued at approximately $143,000. Hedge funds and other institutional investors own 79.26% of the company’s stock.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc is a distributor of metalworking and industrial products serving manufacturers and other organizations across North America. The company provides products used in maintenance, repair and operations, including cutting tools, abrasives, tooling components, fasteners, safety equipment, material handling supplies, and janitorial and facility-maintenance products.

MSC serves customers through an omnichannel platform that includes e-commerce, sales representatives, customer service teams, catalogs, and branch locations.