Zacks Investment Research downgraded shares of Masco Corporation (NYSE:MAS) from a buy rating to a hold rating in a report issued on Tuesday, July 18th.
According to Zacks, “Masco operates through various divisions with a large number of products and is one of the leading cabinet manufacturers in the U.S. The company plans to launch several new products through 2017 to drive growth. Masco regularly divests its less profitable and underperforming businesses to focus on its core areas in a bid to accelerate growth and improve shareholder value. Notably, shares of Masco outperformed the broader industry, year to date. Masco remains well positioned on expectation of continued momentum in housing. Positives like an improving economy, modest wage growth, low unemployment levels, low interest rates and positive consumer confidence raise optimism over the sector’s performance. Meanwhile, estimates have been stable ahead of its second-quarter earnings release and the company has mixed record of earnings surprises in recent quarters. However, negative impact of currency translation remains a major headwind.”
Other analysts have also issued reports about the company. Royal Bank Of Canada reissued a buy rating on shares of Masco Corporation in a report on Wednesday, April 26th. Instinet reissued a buy rating on shares of Masco Corporation in a report on Friday, April 14th. Nomura started coverage on Masco Corporation in a report on Wednesday, April 12th. They issued a buy rating and a $39.00 price objective on the stock. Longbow Research raised Masco Corporation from a neutral rating to a buy rating and set a $42.00 price objective on the stock in a report on Thursday, April 6th. Finally, BidaskClub raised Masco Corporation from a hold rating to a buy rating in a report on Saturday, June 17th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $40.79.
Masco Corporation (NYSE:MAS) traded up 0.66% on Tuesday, reaching $36.69. The company had a trading volume of 1,241,341 shares. Masco Corporation has a 1-year low of $29.38 and a 1-year high of $39.37. The stock’s 50 day moving average is $38.21 and its 200-day moving average is $35.93. The stock has a market capitalization of $11.57 billion, a P/E ratio of 22.69 and a beta of 1.56.
Masco Corporation (NYSE:MAS) last issued its quarterly earnings data on Thursday, July 27th. The construction company reported $0.60 EPS for the quarter, meeting the consensus estimate of $0.60. Masco Corporation had a return on equity of 20,509.09% and a net margin of 7.09%. The company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period last year, the company earned $0.46 earnings per share. Masco Corporation’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, equities analysts predict that Masco Corporation will post $1.97 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Friday, July 14th will be given a dividend of $0.10 per share. The ex-dividend date is Wednesday, July 12th. This represents a $0.40 dividend on an annualized basis and a yield of 1.09%. Masco Corporation’s payout ratio is 24.69%.
In related news, Director Richard A. Manoogian sold 60,323 shares of Masco Corporation stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $37.11, for a total transaction of $2,238,586.53. Following the transaction, the director now owns 622,281 shares in the company, valued at $23,092,847.91. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Renee Straber sold 4,452 shares of Masco Corporation stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $38.58, for a total value of $171,758.16. Following the completion of the sale, the vice president now owns 65,961 shares in the company, valued at approximately $2,544,775.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 175,602 shares of company stock worth $6,528,540. 1.30% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of MAS. Boys Arnold & Co. Inc. increased its stake in Masco Corporation by 99.5% in the first quarter. Boys Arnold & Co. Inc. now owns 21,950 shares of the construction company’s stock worth $746,000 after buying an additional 10,950 shares in the last quarter. BlackRock Inc. increased its stake in Masco Corporation by 1,387.4% in the first quarter. BlackRock Inc. now owns 27,895,055 shares of the construction company’s stock worth $948,149,000 after buying an additional 26,019,679 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in Masco Corporation during the first quarter worth approximately $402,000. Stifel Financial Corp increased its stake in Masco Corporation by 8.1% in the first quarter. Stifel Financial Corp now owns 93,575 shares of the construction company’s stock worth $3,188,000 after buying an additional 7,027 shares in the last quarter. Finally, Renaissance Investment Group LLC increased its stake in Masco Corporation by 0.8% in the first quarter. Renaissance Investment Group LLC now owns 153,202 shares of the construction company’s stock worth $5,207,000 after buying an additional 1,150 shares in the last quarter. Institutional investors own 89.90% of the company’s stock.
About Masco Corporation
Masco Corporation designs, manufactures, markets and distributes branded home improvement and building products. The Company operates through four business segments: Plumbing Products, Decorative Architectural Products, Cabinetry Products, and Windows and Other Specialty Products. The Company’s portfolio of brands includes BEHR paint; DELTA and HANSGROHE faucets, bath and shower fixtures; KRAFTMAID and MERILLAT cabinets; MILGARD windows and doors, and HOT SPRING spas.
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