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

Masco Co. (NYSE:MAS) announced a quarterly dividend on Tuesday, October 29th, Zacks reports. Stockholders 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 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Friday, November 8th.

Masco has raised 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 dividend payout ratio of 26.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Masco to earn $4.45 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 26.1%.

Masco Trading Down 1.9 %

NYSE MAS opened at $80.21 on Thursday. Masco has a 12 month low of $54.67 and a 12 month high of $86.70. The company’s 50-day moving average price is $81.68 and its 200-day moving average price is $74.73. The stock has a market cap of $17.31 billion, a PE ratio of 21.33, a PEG ratio of 2.62 and a beta of 1.24. The company has a current ratio of 1.83, a quick ratio of 1.21 and a debt-to-equity ratio of 20.74.

Masco (NYSE:MAS) last issued its earnings results on Tuesday, October 29th. The construction company reported $1.08 EPS for the quarter, hitting analysts’ consensus estimates of $1.08. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $2 billion. Masco had a net margin of 10.54% and a return on equity of 615.54%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the company posted $1.00 earnings per share. Equities research analysts forecast that Masco will post 4.1 earnings per share for the current year.

Insider Buying and Selling at Masco

In other news, VP Kenneth G. Cole sold 37,814 shares of the company’s stock in a transaction dated 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 owns 36,980 shares in the company, valued at $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 is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MAS shares. Truist Financial upped their target price on Masco from $84.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Robert W. Baird lowered their price objective on shares of Masco from $95.00 to $94.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Jefferies Financial Group raised their target price on shares of Masco from $89.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. upped their price target on shares of Masco from $80.00 to $83.50 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Loop Capital upped their target price on Masco from $76.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $85.96.

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.