Masco Co. (NYSE:MAS) Declares $0.31 Quarterly Dividend

Masco Co. (NYSE:MAS) declared a quarterly dividend on Monday, May 12th, Wall Street Journal reports. Investors of record on Friday, May 23rd will be paid a dividend of 0.31 per share by the construction company on Monday, June 9th. This represents a $1.24 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Friday, May 23rd.

Masco has increased its dividend by an average of 18.1% per year over the last three years and has raised its dividend annually for the last 12 consecutive years. Masco has a dividend payout ratio of 30.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Masco to earn $4.81 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 25.8%.

Masco Trading Down 1.5%

Masco stock opened at $68.09 on Wednesday. The company has a debt-to-equity ratio of 20.74, a quick ratio of 1.15 and a current ratio of 1.75. The firm’s 50-day moving average is $65.19 and its 200-day moving average is $73.15. The company has a market cap of $14.36 billion, a P/E ratio of 18.11, a PEG ratio of 1.94 and a beta of 1.23. Masco has a 1 year low of $56.55 and a 1 year high of $86.70.

Masco (NYSE:MAS) last issued its earnings results on Wednesday, April 23rd. The construction company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.05). The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.84 billion. Masco had a return on equity of 838.32% and a net margin of 10.50%. The business’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.93 earnings per share. On average, equities analysts expect that Masco will post 4.34 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Masco in a report on Tuesday, April 1st. They issued a “hold” rating and a $71.00 price objective for the company. Zelman & Associates raised Masco to a “strong-buy” rating in a report on Friday, January 17th. Robert W. Baird decreased their price target on shares of Masco from $72.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Truist Financial lowered their price objective on Masco from $92.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Finally, Royal Bank of Canada decreased their price target on Masco from $74.00 to $62.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 24th. Ten investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $73.10.

Insider Activity at Masco

In related news, CEO Keith J. Allman sold 21,723 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $76.36, for a total value of $1,658,768.28. Following the transaction, the chief executive officer now owns 60,267 shares of the company’s stock, valued at $4,601,988.12. This trade represents a 26.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Renee Straber sold 3,139 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $71.78, for a total transaction of $225,317.42. Following the completion of the transaction, the vice president now directly owns 33,027 shares of the company’s stock, valued at $2,370,678.06. This trade represents a 8.68% decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

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.