Masco Co. (NYSE:MAS) to Issue Quarterly Dividend of $0.29

Masco Co. (NYSE:MAS) declared a quarterly dividend on Friday, May 10th, Wall Street Journal reports. Stockholders of record on Friday, May 24th will be paid a dividend of 0.29 per share by the construction company on Monday, June 10th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Thursday, May 23rd.

Masco has increased its dividend by an average of 27.9% annually over the last three years and has increased its dividend every year for the last 11 years. Masco has a dividend payout ratio of 25.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Masco to earn $4.55 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 25.5%.

Masco Trading Up 0.6 %

Shares of NYSE:MAS opened at $69.93 on Wednesday. The business’s 50 day moving average price is $73.31 and its 200-day moving average price is $69.34. The company has a debt-to-equity ratio of 18.76, a current ratio of 1.74 and a quick ratio of 1.09. The firm has a market capitalization of $15.40 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 1.82 and a beta of 1.28. Masco has a 1 year low of $47.66 and a 1 year high of $78.94.

Masco (NYSE:MAS) last announced its quarterly earnings data on Wednesday, April 24th. The construction company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.06. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.94 billion. Masco had a return on equity of 865.37% and a net margin of 11.60%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.87 EPS. On average, equities research analysts forecast that Masco will post 4.11 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Richard Allan Marshall sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $77.05, for a total value of $385,250.00. Following the transaction, the vice president now owns 10,465 shares of the company’s stock, valued at $806,328.25. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, VP Kenneth G. Cole sold 36,210 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $74.65, for a total transaction of $2,703,076.50. Following the transaction, the vice president now owns 58,885 shares of the company’s stock, valued at $4,395,765.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Richard Allan Marshall sold 5,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $77.05, for a total value of $385,250.00. Following the transaction, the vice president now directly owns 10,465 shares in the company, valued at approximately $806,328.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 83,762 shares of company stock valued at $6,337,597. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MAS shares. Citigroup raised their price objective on Masco from $74.00 to $79.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Truist Financial raised their target price on Masco from $65.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Loop Capital cut their target price on Masco from $79.00 to $76.00 and set a “hold” rating for the company in a research note on Thursday, April 25th. Evercore ISI cut their target price on Masco from $75.00 to $74.00 and set an “in-line” rating for the company in a research note on Thursday, April 25th. Finally, Royal Bank of Canada raised their target price on Masco from $79.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.15.

About Masco

Masco Corporation designs, manufactures, and distributes home improvement and building products in North America, Europe, and internationally. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, sinks, toilets, acrylic tubs, shower trays, spas, exercise pools, and fitness systems; brass, copper, and composite plumbing system components; connected water products; thermoplastic solutions, extruded plastic profiles, specialized fabrications, and PEX tubing products; and other non-decorative plumbing products.