Masco Corp (MAS) To Go Ex-Dividend on April 11th
Masco Corp (NYSE:MAS) announced a quarterly dividend on Monday, March 18th, Wall Street Journal reports. Investors of record on Friday, April 12th will be given a dividend of 0.12 per share by the construction company on Monday, May 13th. This represents a $0.48 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Thursday, April 11th.
Masco has raised its dividend payment by an average of 6.0% annually over the last three years and has raised its dividend every year for the last 5 years. Masco has a payout ratio of 19.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Masco to earn $3.05 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 15.7%.
NYSE MAS opened at $40.25 on Wednesday. Masco has a 12 month low of $27.03 and a 12 month high of $41.76. The company has a debt-to-equity ratio of 43.06, a quick ratio of 1.08 and a current ratio of 1.64. The firm has a market cap of $11.94 billion, a price-to-earnings ratio of 16.10, a P/E/G ratio of 1.47 and a beta of 1.46.
In related news, CFO John G. Sznewajs sold 165,248 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $39.92, for a total value of $6,596,700.16. Following the sale, the chief financial officer now owns 398,178 shares of the company’s stock, valued at approximately $15,895,265.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Keith J. Allman sold 51,283 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $39.82, for a total transaction of $2,042,089.06. Following the completion of the sale, the insider now directly owns 426,072 shares in the company, valued at approximately $16,966,187.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 298,940 shares of company stock worth $11,890,269. Corporate insiders own 1.17% of the company’s stock.
A number of research analysts have commented on MAS shares. Robert W. Baird set a $41.00 price objective on shares of Masco and gave the company a “buy” rating in a research note on Friday, February 8th. Credit Suisse Group reiterated a “hold” rating and set a $34.00 price objective on shares of Masco in a research note on Thursday, February 7th. SunTrust Banks increased their price objective on shares of Masco to $52.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Masco from a “sell” rating to a “hold” rating in a research note on Thursday, January 17th. Finally, Royal Bank of Canada set a $39.00 price objective on shares of Masco and gave the company a “buy” rating in a research note on Friday, February 8th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Masco currently has an average rating of “Buy” and a consensus price target of $42.90.
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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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