Masco Corp (NYSE:MAS) announced a quarterly dividend on Tuesday, December 18th, RTT News reports. Shareholders of record on Friday, January 11th will be paid a dividend of 0.12 per share by the construction company on Monday, February 11th. This represents a $0.48 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Thursday, January 10th.
Masco has raised its dividend by an average of 6.0% per year over the last three years and has raised its dividend annually for the last 5 consecutive years. Masco has a dividend payout ratio of 19.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Masco to earn $2.72 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 17.6%.
Shares of MAS opened at $31.89 on Wednesday. The company has a debt-to-equity ratio of 14.35, a current ratio of 1.71 and a quick ratio of 1.13. The stock has a market capitalization of $9.39 billion, a price-to-earnings ratio of 16.44, a P/E/G ratio of 0.80 and a beta of 1.45. Masco has a 52 week low of $27.03 and a 52 week high of $46.44.
A number of equities analysts recently commented on the company. ValuEngine lowered Masco from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 18th. Deutsche Bank lowered their price objective on Masco from $48.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, November 1st. Royal Bank of Canada raised Masco from a “sector perform” rating to an “outperform” rating and set a $31.69 price objective for the company in a research note on Sunday, December 9th. Nomura set a $37.00 price objective on Masco and gave the company a “buy” rating in a research note on Monday, December 17th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Masco in a research note on Wednesday, October 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and eighteen have issued a buy rating to the stock. Masco currently has a consensus rating of “Buy” and a consensus price target of $41.14.
In other news, Director Richard A. Manoogian sold 50,000 shares of the stock in a transaction that occurred on Thursday, November 8th. The stock was sold at an average price of $31.30, for a total value of $1,565,000.00. Following the sale, the director now directly owns 575,961 shares in the company, valued at $18,027,579.30. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Richard A. O’reagan sold 12,900 shares of the stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $31.48, for a total value of $406,092.00. Following the completion of the sale, the insider now owns 61,443 shares in the company, valued at $1,934,225.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 212,900 shares of company stock worth $6,631,092. Company insiders own 1.20% of the company’s stock.
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Masco Corporation designs, manufactures, and distributes home improvement and building products worldwide. Its Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower enclosures, toilets, acrylic tubs, shower trays, spas products, exercise pools, brass and copper plumbing system components, and other non-decorative plumbing products.
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