MSC Industrial Direct Company, Inc. (NYSE:MSM) announced a quarterly dividend on Tuesday, October 24th, RTT News reports. Shareholders of record on Tuesday, November 14th will be paid a dividend of 0.48 per share by the industrial products company on Tuesday, November 28th. This represents a $1.92 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Monday, November 13th. This is an increase from MSC Industrial Direct’s previous quarterly dividend of $0.45.

MSC Industrial Direct has raised its dividend by an average of 23.2% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. MSC Industrial Direct has a payout ratio of 45.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect MSC Industrial Direct to earn $4.38 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 41.1%.

Shares of MSC Industrial Direct (NYSE:MSM) traded down 3.32% during midday trading on Tuesday, hitting $77.52. The company’s stock had a trading volume of 847,290 shares. MSC Industrial Direct has a 12-month low of $65.42 and a 12-month high of $105.70. The firm has a 50-day moving average of $74.36 and a 200 day moving average of $79.22. The firm has a market cap of $4.41 billion, a price-to-earnings ratio of 19.33 and a beta of 0.53.

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MSM has been the subject of several research analyst reports. Credit Suisse Group lowered their price target on MSC Industrial Direct from $100.00 to $93.00 and set an “outperform” rating for the company in a research report on Thursday, July 13th. Zacks Investment Research upgraded MSC Industrial Direct from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a report on Wednesday, September 27th. Robert W. Baird reiterated a “neutral” rating and issued a $85.00 target price (down from $92.00) on shares of MSC Industrial Direct in a report on Thursday, July 13th. BMO Capital Markets decreased their target price on MSC Industrial Direct from $98.00 to $87.00 and set a “market perform” rating for the company in a report on Friday, July 14th. Finally, BidaskClub upgraded MSC Industrial Direct from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 5th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. MSC Industrial Direct currently has a consensus rating of “Hold” and an average price target of $88.38.

MSC Industrial Direct Company Profile

MSC Industrial Direct Co, Inc is a North American distributor of metalworking and maintenance, repair and operations (MRO) products and services. The Company’s range of MRO products include cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, raw materials, abrasives, machinery hand and power tools, safety and janitorial supplies, plumbing supplies, materials handling products, power transmission components and electrical supplies.

Dividend History for MSC Industrial Direct (NYSE:MSM)

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