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

Masco Co. (NYSE:MAS) declared a quarterly dividend on Tuesday, October 29th, Zacks reports. Stockholders of record on Friday, November 8th will be paid 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 dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, November 8th.

Masco has increased its dividend payment 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 25.7% meaning its dividend is sufficiently covered by earnings. Research 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 Stock Down 0.5 %

MAS traded down $0.37 on Wednesday, reaching $80.93. The company’s stock had a trading volume of 205,743 shares, compared to its average volume of 1,805,535. The stock has a 50 day moving average of $81.52 and a two-hundred day moving average of $74.41. The company has a quick ratio of 1.12, a current ratio of 1.76 and a debt-to-equity ratio of 16.18. 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. Masco has a fifty-two week low of $51.72 and a fifty-two week high of $86.70.

Masco (NYSE:MAS) last announced its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.08. Masco had a return on equity of 602.39% and a net margin of 11.59%. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $2 billion. During the same period in the prior year, the company posted $1.00 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. As a group, analysts forecast that Masco will post 4.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other Masco news, VP Kenneth G. Cole sold 37,814 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $78.32, for a total value of $2,961,592.48. Following the completion of the transaction, the vice president now owns 36,980 shares in the company, valued at approximately $2,896,273.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MAS shares. Wells Fargo & Company boosted their price objective on Masco from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Royal Bank of Canada cut Masco from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from $79.00 to $80.00 in a research note on Wednesday. Barclays boosted their price objective on Masco from $88.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Jefferies Financial Group boosted their price objective on Masco from $89.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Truist Financial upped their price target on Masco from $81.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.69.

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.