Masco Corporation (NYSE:MAS) announced a quarterly dividend on Friday, September 22nd, RTT News reports. Investors of record on Friday, October 13th will be given a dividend of 0.105 per share by the construction company on Monday, November 13th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Thursday, October 12th. This is an increase from Masco Corporation’s previous quarterly dividend of $0.10.
Masco Corporation has increased its dividend payment by an average of 8.7% annually over the last three years and has increased its dividend every year for the last 3 years. Masco Corporation has a dividend payout ratio of 21.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Masco Corporation to earn $2.23 per share next year, which means the company should continue to be able to cover its $0.42 annual dividend with an expected future payout ratio of 18.8%.
Shares of Masco Corporation (NYSE:MAS) opened at 38.75 on Wednesday. Masco Corporation has a 12-month low of $29.38 and a 12-month high of $39.62. The firm has a market cap of $12.22 billion, a PE ratio of 23.96 and a beta of 1.54. The company has a 50 day moving average of $37.72 and a 200-day moving average of $37.12.
Masco Corporation (NYSE:MAS) last issued its earnings results on Thursday, July 27th. The construction company reported $0.60 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.60. Masco Corporation had a net margin of 7.09% and a return on equity of 20,509.09%. The company had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the previous year, the company earned $0.46 EPS. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. Equities research analysts forecast that Masco Corporation will post $1.97 EPS for the current fiscal year.
A number of research analysts recently issued reports on MAS shares. Barclays PLC lifted their price target on Masco Corporation from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, July 28th. Credit Suisse Group set a $36.00 price target on Masco Corporation and gave the company a “hold” rating in a report on Thursday, July 27th. Zacks Investment Research cut Masco Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $45.00 price target on shares of Masco Corporation in a report on Wednesday, July 19th. Finally, MKM Partners reaffirmed a “buy” rating and issued a $44.00 price target (up from $43.00) on shares of Masco Corporation in a report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $40.92.
In other Masco Corporation news, insider Joseph B. Gross sold 2,337 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $37.53, for a total transaction of $87,707.61. Following the completion of the transaction, the insider now owns 56,935 shares of the company’s stock, valued at approximately $2,136,770.55. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Kenneth G. Cole sold 2,266 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $37.36, for a total value of $84,657.76. Following the transaction, the vice president now directly owns 85,693 shares of the company’s stock, valued at approximately $3,201,490.48. The disclosure for this sale can be found here. Insiders sold a total of 24,101 shares of company stock valued at $916,799 over the last quarter. 1.30% of the stock is owned by insiders.
About Masco Corporation
Masco Corporation designs, manufactures, markets and distributes branded home improvement and building products. The Company operates through four business segments: Plumbing Products, Decorative Architectural Products, Cabinetry Products, and Windows and Other Specialty Products. The Company’s portfolio of brands includes BEHR paint; DELTA and HANSGROHE faucets, bath and shower fixtures; KRAFTMAID and MERILLAT cabinets; MILGARD windows and doors, and HOT SPRING spas.
What are top analysts saying about Masco Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Masco Corporation and related companies.