BidaskClub downgraded shares of Masco Corporation (NYSE:MAS) from a buy rating to a hold rating in a report published on Monday, July 24th.
A number of other brokerages have also recently weighed in on MAS. Instinet reaffirmed a buy rating and set a $41.00 price target (up from $39.00) on shares of Masco Corporation in a research report on Friday, May 19th. Robert W. Baird reaffirmed an outperform rating and set a $40.00 price target on shares of Masco Corporation in a research report on Wednesday, May 17th. Zacks Investment Research upgraded shares of Masco Corporation from a sell rating to a hold rating and set a $42.00 price objective on the stock in a research note on Wednesday, April 26th. Credit Suisse Group started coverage on shares of Masco Corporation in a research note on Thursday, June 22nd. They set a neutral rating and a $36.00 price objective on the stock. Finally, Deutsche Bank AG lifted their price objective on shares of Masco Corporation from $31.00 to $35.00 and gave the company a hold rating in a research note on Friday, April 28th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Masco Corporation presently has a consensus rating of Buy and a consensus price target of $40.79.
Shares of Masco Corporation (NYSE:MAS) opened at 36.40 on Monday. Masco Corporation has a 1-year low of $29.38 and a 1-year high of $39.37. The stock has a 50 day moving average of $37.99 and a 200-day moving average of $36.06. The stock has a market capitalization of $11.48 billion, a P/E ratio of 22.51 and a beta of 1.56.
Masco Corporation (NYSE:MAS) last announced its quarterly earnings results on Thursday, July 27th. The construction company reported $0.60 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.60. The firm had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Masco Corporation had a net margin of 7.09% and a return on equity of 20,509.09%. Masco Corporation’s revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.46 earnings per share. Equities research analysts predict that Masco Corporation will post $1.97 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Friday, July 14th were paid a $0.10 dividend. The ex-dividend date was Wednesday, July 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.10%. Masco Corporation’s dividend payout ratio (DPR) is presently 24.69%.
In related news, 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 $2,544,775.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Richard A. O’reagan sold 19,498 shares of Masco Corporation stock in a transaction on Friday, August 4th. The stock was sold at an average price of $38.18, for a total transaction of $744,433.64. Following the completion of the sale, the insider now owns 91,154 shares of the company’s stock, valued at approximately $3,480,259.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 114,262 shares of company stock valued at $4,259,573. Insiders own 1.30% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in MAS. UBS Asset Management Americas Inc. increased its position in Masco Corporation by 3.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,561,324 shares of the construction company’s stock worth $80,989,000 after buying an additional 84,174 shares in the last quarter. Hudson Bay Capital Management LP acquired a new position in Masco Corporation during the fourth quarter worth approximately $791,000. Kentucky Retirement Systems acquired a new position in Masco Corporation during the fourth quarter worth approximately $753,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Masco Corporation during the fourth quarter worth approximately $336,000. Finally, Highbridge Capital Management LLC acquired a new position in Masco Corporation during the fourth quarter worth approximately $402,000. 89.17% of the stock is owned by hedge funds and other institutional investors.
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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