Masco Co. (NYSE:MAS) to Issue $0.28 Quarterly Dividend

Masco Co. (NYSE:MASGet Rating) declared a quarterly dividend on Friday, May 13th, RTT News reports. Stockholders of record on Friday, May 27th will be paid a dividend of 0.28 per share by the construction company on Monday, June 13th. This represents a $1.12 annualized dividend and a dividend yield of 2.05%.

Masco has raised its dividend by an average of 16.1% per year over the last three years and has increased its dividend annually for the last 9 consecutive years. Masco has a dividend payout ratio of 24.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Masco to earn $4.57 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 24.5%.

Shares of MAS opened at $54.56 on Friday. Masco has a 12 month low of $48.78 and a 12 month high of $71.06. The firm’s 50 day moving average is $52.95 and its 200-day moving average is $60.57. The stock has a market capitalization of $12.87 billion, a PE ratio of 24.04, a P/E/G ratio of 1.08 and a beta of 1.23. The company has a current ratio of 1.60, a quick ratio of 0.98 and a debt-to-equity ratio of 52.66.

Masco (NYSE:MASGet Rating) last announced its earnings results on Wednesday, April 27th. The construction company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.88 by $0.07. Masco had a net margin of 6.38% and a return on equity of 3,870.83%. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same period last year, the firm earned $0.89 earnings per share. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. Equities research analysts predict that Masco will post 4.26 earnings per share for the current fiscal year.

A number of research analysts recently issued reports on the stock. Loop Capital decreased their price objective on shares of Masco from $65.00 to $56.00 and set a “hold” rating on the stock in a research note on Wednesday, April 6th. Wells Fargo & Company dropped their target price on shares of Masco from $70.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, April 21st. Bank of America lowered shares of Masco from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $75.00 to $55.00 in a report on Monday, April 11th. The Goldman Sachs Group dropped their target price on shares of Masco from $75.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, April 12th. Finally, Truist Financial dropped their target price on shares of Masco from $77.00 to $70.00 in a report on Thursday, April 28th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $64.69.

In other news, CEO Keith J. Allman sold 10,000 shares of the business’s stock in a transaction dated Thursday, April 14th. The shares were sold at an average price of $49.88, for a total transaction of $498,800.00. Following the completion of the sale, the chief executive officer now directly owns 298,295 shares of the company’s stock, valued at $14,878,954.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.20% of the company’s stock.

Large investors have recently bought and sold shares of the company. Metropolitan Life Insurance Co NY increased its position in shares of Masco by 15.6% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 27,637 shares of the construction company’s stock worth $1,941,000 after acquiring an additional 3,723 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Masco by 4.8% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,103 shares of the construction company’s stock worth $1,637,000 after purchasing an additional 1,466 shares in the last quarter. Allstate Corp grew its position in Masco by 483.6% in the 4th quarter. Allstate Corp now owns 22,111 shares of the construction company’s stock worth $1,553,000 after purchasing an additional 18,322 shares in the last quarter. Vident Investment Advisory LLC grew its position in Masco by 9.8% in the 4th quarter. Vident Investment Advisory LLC now owns 15,659 shares of the construction company’s stock worth $1,099,000 after purchasing an additional 1,399 shares in the last quarter. Finally, Penserra Capital Management LLC grew its position in Masco by 5.8% in the 4th quarter. Penserra Capital Management LLC now owns 9,502 shares of the construction company’s stock worth $594,000 after purchasing an additional 517 shares in the last quarter. 93.76% of the stock is owned by institutional investors.

About Masco (Get Rating)

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.

Featured Articles

Dividend History for Masco (NYSE:MAS)

Receive News & Ratings for Masco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Masco and related companies with MarketBeat.com's FREE daily email newsletter.