LONDON, UK / ACCESSWIRE / November 10, 2017 / Pro-Trader Daily takes a closer look at MSC Industrial Direct Co., Inc. (NYSE: MSM) as the Company's stock will begin trading ex-dividend on November 13, 2017. In order to capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date (excluding weekend) that is by latest at the end of the trading session on November 10, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at:
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On October 25, 2017, MSC Industrial announced that its Board of Directors has declared a cash dividend of $0.48 per share, representing a 6.7% increase from $0.45 per share, in the regular quarterly dividend. The $0.48 dividend is payable on November 28, 2017, to shareholders of record at the close of business on November 14, 2017.
MSC Industrial's indicated dividend represents a yield of 2.35%, which is substantially above the average dividend yield of 2.02% for the Services sector. The Company has raised dividend for six consecutive years.
MSC Industrial has a dividend payout ratio of 43.2%, which indicates that the Company distributes approximately $0.43 for every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts' estimates, MSC Industrial is forecasted to report earnings of $4.90 for the next year, which is more than double compared to the Company's annualized dividend of $1.92 per share.
As of September 30, 2017, MSC Industrial had total cash and cash equivalents worth $16.08 million as compared to $52.89 million as on September 03, 2016. The Company's current assets as on that day were $1.01 billion compared to $981.49 million as on September 03, 2016. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.
Recent Development for MSC Industrial
On October 31, 2017, MSC Industrial announced net sales of $753.8 million in Q4 FY17, reflecting an increase of 1.2% on a y-o-y basis. The Company's average daily sales (ADS) increased 9.2% on y-o-y basis, with 150 basis points of growth from DECO Tool Supply Co, whose acquisition was completed on July 31, 2017.
For Q4 FY17, MSC Industrial reported operating margin of 13.3%, which is flat compared with the year-ago same period and diluted EPS of $1.07 versus EPS of $1.02 for Q4 FY16.
About MSC Industrial
MSC Industrial is a leading North American distributor of metalworking and maintenance, repair, and operations (MRO) products and services. The Company helps its customers drive greater productivity, profitability and growth with more than 1.5 million products, inventory management, and other supply chain solutions, and deep expertise from over 75 years of working with customers across industries.
On Thursday, November 09, 2017, the stock closed the trading session at $79.97, slipping 1.83% from its previous closing price of $81.46. A total volume of 595.93 thousand shares have exchanged hands, which was higher than the 3-month average volume of 525.52 thousand shares. MSC Industrial Direct's stock price surged 7.43% in the last one month and 14.69% in the past three months. The stock is trading at a PE ratio of 19.77 and has a dividend yield of 2.40%. The stock currently has a market cap of $4.53 billion.
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