Welcome to our dedicated page for Masco news (Ticker: MAS), a resource for investors and traders seeking the latest updates and insights on Masco stock.
Masco Corporation reports developments tied to its global design, manufacture and distribution of branded home improvement and building products. The company’s portfolio includes Behr paint; Delta and hansgrohe faucets, bath and shower fixtures; Liberty decorative and functional hardware; and HotSpring spas. News commonly covers sales and margin results, segment trends in plumbing and decorative architectural products, share repurchases and dividends, product introductions from Behr, investor presentations, and leadership or operating-structure changes.
Company updates also address business drivers and risks linked to residential repair and remodel activity, new home construction, brand strength, consumer purchasing patterns, key customers, material costs, suppliers, tariffs, international operations, cybersecurity and information systems.
Masco Corporation (NYSE: MAS) will hold a conference call on July 29, 2021, at 8:00 a.m. ET to discuss its second quarter results. The call will be hosted by President and CEO Keith Allman. Participants are encouraged to register 5-10 minutes early. Results and supplemental materials will be available at 7:00 a.m. ET on the same day, both on the company's website and during the call. A replay will be available shortly after the call concludes, lasting until August 29, 2021. For more information, visit www.masco.com.
Masco Corporation (NYSE: MAS) has announced an accelerated share repurchase (ASR) agreement worth $350 million with the Royal Bank of Canada to buy back its common stock. This buyback is part of a larger $2 billion share repurchase program initiated on February 9, 2021. Masco will receive approximately 5.1 million shares on June 10, 2021, equating to about 85% of the initial shares based on a closing price of $58.41. The final repurchased share count will depend on the company's volume-weighted average price during the agreement period and is expected to conclude by July 29, 2021.
Masco Corporation (NYSE: MAS) has declared a quarterly dividend of $0.235 per common share, scheduled for payment on June 14, 2021. Shareholders of record as of May 28, 2021 will receive this dividend. Masco is a leader in home improvement and building products, boasting brands like Behr® paint and Delta® faucets. The company aims to leverage its diverse portfolio to create value for customers and shareholders. For further details, visit www.masco.com.
Masco Corporation (NYSE: MAS) announced that CFO John Sznewajs will present at J.P. Morgan’s 14th Annual Homebuilding and Building Products Conference on May 20 at 1:15 p.m. ET. The presentation will be webcast live on Masco’s investor relations website, with a replay available until June 20, 2021. Masco is a global leader in home improvement and building products, featuring esteemed brands like Behr®, Delta®, and HotSpring®. The company aims to leverage its strong brand portfolio across various product categories to create shareholder value.
Masco Corporation (NYSE: MAS) reported a strong first quarter in 2021, achieving a 25% increase in net sales to $1,970 million and an 89% rise in adjusted earnings per share. North American and international sales rose 21% and 27%, respectively. Gross margins increased to 35.5%, while operating profit surged 62% to $365 million. The company returned $339 million to shareholders through dividends and buybacks, while also refinancing debts to reduce interest expenses. Masco raised its earnings per share forecast for 2021 to $3.50-$3.70.
Behr Paint has appointed UM as its media Agency of Record in the U.S., effective immediately. This partnership will encompass all media strategy, planning, buying, and analytics for Behr's DIY, Professional, and KILZ brands. Jodi Allen, Global CMO of Behr, expressed excitement about collaborating with UM to enhance brand connections with consumers. UM's US CEO, Lynn Lewis, emphasized the agency's commitment to driving Behr's growth through data-driven strategies. Behr, a leading paint manufacturer, is a subsidiary of Masco Corporation (NYSE: MAS).
Masco Corporation (NYSE: MAS) will host a conference call on April 28, 2021, at 8:00 a.m. ET to discuss its first quarter 2021 results. President and CEO Keith Allman will lead the call. Results and supplementary materials will be released at 7:00 a.m. ET the same day and available on Masco's website. Interested parties can register for the call by dialing (855) 226-2726 or (706) 679-3614 for international participants, using the ID number 9998268. A replay will be accessible post-call until May 28, 2021, via telephone and the company website.
Masco Corporation (NYSE: MAS) announced that CFO John Sznewajs will present at the Raymond James 42nd Annual Virtual Institutional Investors Conference on March 2, 2021, at 8:20 a.m. ET. The presentation will be available via live webcast on Masco's Investor Relations website and can be replayed until May 2, 2021. Masco is a leader in home improvement and building products, known for brands like Behr® paint and Delta® faucets, helping to create value for customers and shareholders.
Masco Corporation (NYSE: MAS) has announced the creation of Masco Ventures, a $50 million venture capital fund aimed at investing in startups that align with its commitment to innovation. This fully-owned subsidiary will focus on early and growth-stage companies enhancing home improvement experiences, particularly in water management and customer service improvements. Investments will range from $500,000 to $5 million, targeting firms where Masco can add value. Managed by Touchdown Ventures, this initiative aims to leverage Masco's industry expertise and distribution channels.
Behr Paint Company has unveiled its 2021 Color of the Year, Canyon Dusk S210-4, described as an earthy terracotta shade that promotes comfort and grounding warmth. This color reflects a desire for stability during uncertain times and is versatile for various design styles. Canyon Dusk pairs well with other hues from Behr's Color Trends 2021 palette, making it suitable for both residential and commercial spaces. The company encourages the public to share interpretations of Canyon Dusk through a social media contest, with prizes including a photo collection and a gift card valued at $1,000.