Masco (NYSE:MAS) Shares Gap Up After Dividend Announcement

Masco Co. (NYSE:MASGet Free Report) gapped up before the market opened on Thursday after the company announced a dividend. The stock had previously closed at $70.44, but opened at $74.24. Masco shares last traded at $74.99, with a volume of 510,823 shares traded.

The newly announced dividend which will be paid on Monday, March 11th. Shareholders of record on Thursday, February 22nd will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.58%. This is an increase from Masco’s previous quarterly dividend of $0.29. Masco’s payout ratio is presently 31.06%.

Analyst Ratings Changes

MAS has been the topic of several recent analyst reports. Oppenheimer began coverage on shares of Masco in a research report on Friday, January 19th. They set a “market perform” rating on the stock. Jefferies Financial Group dropped their target price on shares of Masco from $75.00 to $70.00 in a report on Thursday, October 12th. Citigroup initiated coverage on shares of Masco in a report on Friday, February 2nd. They set a “neutral” rating and a $70.00 price objective on the stock. Wells Fargo & Company lifted their target price on shares of Masco from $58.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, December 6th. Finally, BMO Capital Markets boosted their target price on shares of Masco from $58.00 to $60.00 and gave the stock a “market perform” rating in a research note on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $64.75.

Read Our Latest Stock Analysis on Masco

Masco Stock Up 4.1 %

The company has a market capitalization of $16.46 billion, a PE ratio of 19.98, a price-to-earnings-growth ratio of 3.51 and a beta of 1.25. The company has a quick ratio of 1.15, a current ratio of 1.78 and a debt-to-equity ratio of 19.91. The business’s 50 day simple moving average is $66.91 and its 200 day simple moving average is $59.86.

Insider Transactions at Masco

In other Masco news, insider Jai Shah sold 25,000 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $62.38, for a total transaction of $1,559,500.00. Following the transaction, the insider now owns 34,709 shares in the company, valued at $2,165,147.42. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, VP Kenneth G. Cole sold 27,043 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $62.48, for a total transaction of $1,689,646.64. Following the sale, the vice president now owns 70,198 shares of the company’s stock, valued at approximately $4,385,971.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jai Shah sold 25,000 shares of Masco stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $62.38, for a total value of $1,559,500.00. Following the completion of the sale, the insider now directly owns 34,709 shares in the company, valued at approximately $2,165,147.42. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. DecisionPoint Financial LLC acquired a new position in shares of Masco during the 2nd quarter valued at $29,000. VisionPoint Advisory Group LLC bought a new stake in shares of Masco during the 2nd quarter valued at $35,000. Center for Financial Planning Inc. grew its position in shares of Masco by 270.6% during the 3rd quarter. Center for Financial Planning Inc. now owns 667 shares of the construction company’s stock valued at $36,000 after purchasing an additional 487 shares in the last quarter. Fortitude Family Office LLC bought a new stake in Masco during the fourth quarter valued at approximately $39,000. Finally, Bruce G. Allen Investments LLC bought a new position in shares of Masco during the 4th quarter valued at about $44,000. Institutional investors own 91.67% of the company’s stock.

About Masco

(Get Free Report)

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.

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