Masco Corp (NYSE:MAS) declared a quarterly dividend on Friday, June 19th, RTT News reports. Shareholders of record on Friday, July 10th will be given a dividend of 0.135 per share by the construction company on Monday, August 10th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Thursday, July 9th.
Masco has raised its dividend by an average of 10.0% per year over the last three years and has raised its dividend every year for the last 6 years. Masco has a dividend payout ratio of 27.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Masco to earn $2.57 per share next year, which means the company should continue to be able to cover its $0.54 annual dividend with an expected future payout ratio of 21.0%.
MAS stock opened at $50.02 on Wednesday. The stock has a market capitalization of $13.28 billion, a PE ratio of 10.49, a price-to-earnings-growth ratio of 2.19 and a beta of 1.49. Masco has a 12-month low of $27.04 and a 12-month high of $51.18. The stock’s 50 day simple moving average is $47.61 and its 200 day simple moving average is $44.10.
Several equities analysts have recently weighed in on MAS shares. KeyCorp increased their price target on Masco from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, June 17th. Deutsche Bank increased their price target on Masco from $48.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Nomura Securities upped their price objective on Masco from $38.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. Robert W. Baird upped their price objective on Masco from $45.00 to $54.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 17th. Finally, SunTrust Banks upped their price objective on Masco from $52.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the stock. Masco presently has an average rating of “Buy” and an average price target of $50.57.
In related news, insider Richard A. O’reagan sold 12,000 shares of Masco stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $39.96, for a total value of $479,520.00. Following the completion of the transaction, the insider now owns 43,553 shares in the company, valued at $1,740,377.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO John P. Lindow sold 5,674 shares of Masco stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $49.00, for a total value of $278,026.00. Following the completion of the transaction, the chief accounting officer now owns 23,958 shares of the company’s stock, valued at approximately $1,173,942. The disclosure for this sale can be found here. Insiders have sold a total of 18,920 shares of company stock valued at $819,846 in the last three months. Insiders own 1.23% of the company’s stock.
Masco Corporation designs, manufactures, and distributes home improvement and building products worldwide. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, toilets, acrylic tubs, shower trays, spas, exercise pools, fitness systems, and other non-decorative plumbing products; brass, copper, and composite plumbing system components; and thermoplastic extrusions, extruded plastic profiles, and specialized fabrications.
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