Masco Co. Plans Quarterly Dividend of $0.31 (NYSE:MAS)

Masco Co. (NYSE:MAS) declared a quarterly dividend on Monday, May 12th, Wall Street Journal reports. Investors of record on Friday, May 23rd will be given a dividend of 0.31 per share by the construction company on Monday, June 9th. This represents a $1.24 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Friday, May 23rd.

Masco has raised its dividend payment by an average of 18.1% per year over the last three years and has increased its dividend every year for the last 12 years. Masco has a dividend payout ratio of 30.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Masco to earn $4.81 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 25.8%.

Masco Trading Up 11.5%

Masco stock traded up $7.17 during midday trading on Monday, reaching $69.27. The stock had a trading volume of 5,885,518 shares, compared to its average volume of 1,776,756. The firm’s fifty day simple moving average is $65.40 and its two-hundred day simple moving average is $73.27. Masco has a twelve month low of $56.55 and a twelve month high of $86.70. The company has a debt-to-equity ratio of 20.74, a current ratio of 1.75 and a quick ratio of 1.15. The firm has a market cap of $14.61 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 1.94 and a beta of 1.23.

Masco (NYSE:MAS) last released its quarterly earnings results on Wednesday, April 23rd. The construction company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.05). The business had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.84 billion. Masco had a net margin of 10.50% and a return on equity of 838.32%. The firm’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.93 EPS. Equities analysts anticipate that Masco will post 4.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other Masco news, CEO Keith J. Allman sold 21,723 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $76.36, for a total value of $1,658,768.28. Following the completion of the sale, the chief executive officer now owns 60,267 shares of the company’s stock, valued at approximately $4,601,988.12. This represents a 26.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Renee Straber sold 3,139 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $71.78, for a total transaction of $225,317.42. Following the sale, the vice president now directly owns 33,027 shares of the company’s stock, valued at $2,370,678.06. This represents a 8.68% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

MAS has been the topic of several recent analyst reports. Wells Fargo & Company dropped their target price on shares of Masco from $82.00 to $65.00 and set an “equal weight” rating on the stock in a report on Monday, April 14th. Royal Bank of Canada decreased their price target on shares of Masco from $74.00 to $62.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 24th. Jefferies Financial Group decreased their price target on shares of Masco from $64.00 to $62.00 and set a “hold” rating on the stock in a research report on Wednesday, April 23rd. Zelman & Associates upgraded shares of Masco to a “strong-buy” rating in a research report on Friday, January 17th. Finally, Loop Capital set a $62.00 price target on shares of Masco and gave the stock a “hold” rating in a research report on Thursday, April 24th. Ten research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $73.10.

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.