Masco Co. (NYSE:MAS) Announces $0.29 Quarterly Dividend

Masco Co. (NYSE:MAS) announced a quarterly dividend on Tuesday, October 29th, Zacks reports. Investors of record on Friday, November 8th will be given a dividend of 0.29 per share by the construction company on Monday, November 25th. This represents a $1.16 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Friday, November 8th.

Masco has raised its dividend by an average of 27.9% per year over the last three years and has increased its dividend annually for the last 11 consecutive years. Masco has a payout ratio of 25.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Masco to earn $4.47 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 26.0%.

Masco Price Performance

Masco stock traded down $0.37 during midday trading on Wednesday, reaching $80.93. 205,743 shares of the company were exchanged, compared to its average volume of 1,805,535. The company has a market capitalization of $17.82 billion, a price-to-earnings ratio of 19.75, a P/E/G ratio of 2.78 and a beta of 1.24. The firm’s 50-day simple moving average is $81.52 and its 200-day simple moving average is $74.41. Masco has a 1 year low of $51.72 and a 1 year high of $86.70. The company has a debt-to-equity ratio of 16.18, a quick ratio of 1.12 and a current ratio of 1.76.

Masco (NYSE:MAS) last posted its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.08 EPS for the quarter, hitting analysts’ consensus estimates of $1.08. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $2 billion. Masco had a return on equity of 602.39% and a net margin of 11.59%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $1.00 EPS. On average, analysts anticipate that Masco will post 4.1 EPS for the current year.

Insider Activity at Masco

In other Masco news, VP Kenneth G. Cole sold 37,814 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $78.32, for a total transaction of $2,961,592.48. Following the transaction, the vice president now directly owns 36,980 shares in the company, valued at $2,896,273.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MAS. Citigroup lowered their price target on Masco from $73.00 to $66.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Barclays upped their price objective on Masco from $88.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. BMO Capital Markets raised their price objective on Masco from $78.00 to $85.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group upped their price target on shares of Masco from $89.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Truist Financial upped their price target on shares of Masco from $81.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Masco has an average rating of “Moderate Buy” and an average price target of $82.69.

Masco Company Profile

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.