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

Masco Co. (NYSE:MAS) declared a quarterly dividend on Thursday, July 25th, RTT News reports. Investors of record on Friday, August 2nd will be paid a dividend of 0.29 per share by the construction company on Monday, August 19th. This represents a $1.16 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Friday, August 2nd.

Masco has increased its dividend by an average of 27.9% annually 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 $4.50 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 25.8%.

Masco Price Performance

Shares of MAS stock opened at $77.85 on Thursday. Masco has a fifty-two week low of $47.66 and a fifty-two week high of $79.54. The company has a debt-to-equity ratio of 16.18, a quick ratio of 1.12 and a current ratio of 1.76. The firm has a market capitalization of $16.99 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 2.46 and a beta of 1.24. The stock’s 50-day simple moving average is $69.29 and its 200-day simple moving average is $71.49.

Masco (NYSE:MAS) last posted its quarterly earnings results on Thursday, July 25th. The construction company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.02. The business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.10 billion. Masco had a net margin of 11.59% and a return on equity of 602.39%. The business’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the company posted $1.19 earnings per share. As a group, equities analysts forecast that Masco will post 4.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MAS. Evercore ISI reduced their price objective 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. Truist Financial increased their price objective on shares of Masco from $81.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Robert W. Baird upped their price target on shares of Masco from $84.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Loop Capital reduced their price objective on Masco from $79.00 to $76.00 and set a “hold” rating for the company in a research note on Thursday, April 25th. Finally, Royal Bank of Canada upped their target price on Masco from $78.00 to $79.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $77.58.

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.