Several other brokerages have also issued reports on MAS. Citigroup Inc. boosted their price target on shares of Masco Corp. from $33.00 to $38.00 and gave the company a neutral rating in a report on Friday, July 29th. Jefferies Group reaffirmed a buy rating on shares of Masco Corp. in a research report on Thursday, August 4th. RBC Capital Markets reaffirmed an outperform rating and issued a $41.00 price objective (up from $35.00) on shares of Masco Corp. in a research report on Wednesday, July 27th. Deutsche Bank AG boosted their price objective on shares of Masco Corp. from $28.00 to $31.00 and gave the company a hold rating in a research report on Thursday, July 28th. Finally, FBR & Co boosted their price objective on shares of Masco Corp. from $36.00 to $40.00 and gave the company an outperform rating in a research report on Wednesday, July 27th. Four research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $35.71.
Shares of Masco Corp. (NYSE:MAS) opened at 33.96 on Wednesday. Masco Corp. has a 12 month low of $23.10 and a 12 month high of $37.38. The firm has a market capitalization of $11.08 billion, a P/E ratio of 25.79 and a beta of 1.83. The stock has a 50 day moving average price of $34.60 and a 200 day moving average price of $32.95.
Masco Corp. (NYSE:MAS) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. Masco Corp. had a net margin of 6.12% and a return on equity of 780.00%. The company earned $2 billion during the quarter, compared to analyst estimates of $2 billion. During the same quarter in the previous year, the business earned $0.38 EPS. The firm’s revenue was up 3.7% on a year-over-year basis. On average, analysts expect that Masco Corp. will post $1.57 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 14th. Investors of record on Friday, October 14th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $0.40 dividend on an annualized basis and a yield of 1.18%. This is a positive change from Masco Corp.’s previous quarterly dividend of $0.10. Masco Corp.’s dividend payout ratio is 29.01%.
In related news, VP Kenneth G. Cole sold 3,609 shares of the company’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $37.23, for a total value of $134,363.07. Following the transaction, the vice president now owns 79,192 shares in the company, valued at approximately $2,948,318.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Richard A. Manoogian sold 44,008 shares of the company’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $36.68, for a total transaction of $1,614,213.44. Following the completion of the transaction, the director now owns 818,711 shares in the company, valued at approximately $30,030,319.48. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bessemer Group Inc. raised its position in shares of Masco Corp. by 1.8% in the first quarter. Bessemer Group Inc. now owns 3,334 shares of the company’s stock worth $105,000 after buying an additional 58 shares during the period. IFP Advisors Inc raised its position in shares of Masco Corp. by 203.8% in the first quarter. IFP Advisors Inc now owns 3,904 shares of the company’s stock worth $123,000 after buying an additional 2,619 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Masco Corp. by 1,368.4% in the second quarter. Tower Research Capital LLC TRC now owns 5,477 shares of the company’s stock worth $169,000 after buying an additional 5,104 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in shares of Masco Corp. during the second quarter worth about $174,000. Finally, Pacer Advisors Inc. raised its position in shares of Masco Corp. by 8.6% in the second quarter. Pacer Advisors Inc. now owns 6,221 shares of the company’s stock worth $192,000 after buying an additional 495 shares during the last quarter. Institutional investors and hedge funds own 91.63% of the company’s stock.
Masco Corp. Company Profile
Masco Corporation designs, manufactures, markets and distributes branded home improvement and building products. The Company operates through four business segments: Cabinets and Related Products, Plumbing Products, Decorative Architectural Products and Other Specialty Products. It has a portfolio of brands, which includes KRAFTMAID, MERILLAT and PEERLESS.
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