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

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

Masco has raised its dividend payment by an average of 27.9% per year over the last three years and has raised 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. Research 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 Stock Performance

NYSE MAS opened at $80.21 on Thursday. The company has a quick ratio of 1.21, a current ratio of 1.83 and a debt-to-equity ratio of 20.74. Masco has a twelve month low of $54.67 and a twelve month high of $86.70. The business has a 50-day moving average price of $81.68 and a 200-day moving average price of $74.73. The firm has a market cap of $17.31 billion, a price-to-earnings ratio of 21.33, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24.

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

Wall Street Analysts Forecast Growth

Several analysts have commented on MAS shares. Robert W. Baird decreased their price target on shares of Masco from $95.00 to $94.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Citigroup decreased their target price on Masco from $73.00 to $66.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Royal Bank of Canada cut Masco from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $79.00 to $80.00 in a report on Wednesday, October 30th. JPMorgan Chase & Co. upped their price objective on Masco from $80.00 to $83.50 and gave the stock a “neutral” rating in a report on Tuesday. Finally, 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 report on Wednesday, October 9th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $85.96.

Insider Activity

In related news, VP Kenneth G. Cole sold 37,814 shares of Masco 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 completion of the transaction, the vice president now directly owns 36,980 shares of the company’s stock, valued at approximately $2,896,273.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

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.