Several other analysts have also recently weighed in on the stock. FBR & Co reiterated a buy rating and issued a $46.00 price target (up previously from $43.00) on shares of Masco Corp in a report on Wednesday. Nomura set a $45.00 price target on shares of Masco Corp and gave the company a buy rating in a report on Wednesday. Robert W. Baird lifted their price target on shares of Masco Corp from $42.00 to $44.00 and gave the company an outperform rating in a report on Wednesday. Raymond James Financial, Inc. reiterated a market perform rating on shares of Masco Corp in a report on Wednesday. Finally, Royal Bank Of Canada lifted their price target on shares of Masco Corp from $44.00 to $47.00 and gave the company an outperform rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $42.71.
Masco Corp (MAS) traded up 0.12% on Wednesday, hitting $40.16. 2,408,481 shares of the company were exchanged. The stock has a 50 day moving average of $38.72 and a 200 day moving average of $37.61. The company has a market capitalization of $12.67 billion, a price-to-earnings ratio of 24.84 and a beta of 1.54. Masco Corp has a 52 week low of $29.38 and a 52 week high of $41.10.
Masco Corp (NYSE:MAS) last released its quarterly earnings results on Tuesday, October 24th. The construction company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.03). The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.96 billion. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.41 EPS. Analysts predict that Masco Corp will post $1.95 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Stockholders of record on Friday, October 13th will be given a $0.105 dividend. This represents a $0.42 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Thursday, October 12th. This is a positive change from Masco Corp’s previous quarterly dividend of $0.10. Masco Corp’s payout ratio is currently 25.00%.
In other news, CFO John G. Sznewajs sold 52,511 shares of Masco Corp stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $39.83, for a total value of $2,091,513.13. Following the completion of the transaction, the chief financial officer now owns 391,443 shares of the company’s stock, valued at approximately $15,591,174.69. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP John P. Lindow sold 17,026 shares of Masco Corp stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $40.07, for a total value of $682,231.82. Following the completion of the transaction, the vice president now directly owns 101,681 shares of the company’s stock, valued at approximately $4,074,357.67. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,638 shares of company stock valued at $3,690,544. 1.30% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. KBC Group NV raised its position in shares of Masco Corp by 12.5% in the 2nd quarter. KBC Group NV now owns 38,066 shares of the construction company’s stock worth $1,454,000 after purchasing an additional 4,223 shares during the last quarter. State of Tennessee Treasury Department raised its position in shares of Masco Corp by 19.4% in the 2nd quarter. State of Tennessee Treasury Department now owns 199,990 shares of the construction company’s stock worth $7,642,000 after purchasing an additional 32,532 shares during the last quarter. Calamos Advisors LLC raised its position in shares of Masco Corp by 29.1% in the 2nd quarter. Calamos Advisors LLC now owns 989,188 shares of the construction company’s stock worth $37,797,000 after purchasing an additional 223,177 shares during the last quarter. MUFG Securities EMEA plc purchased a new position in shares of Masco Corp in the 2nd quarter worth about $10,508,000. Finally, Franklin Resources Inc. purchased a new position in shares of Masco Corp in the 2nd quarter worth about $2,824,000. 88.33% of the stock is owned by hedge funds and other institutional investors.
About Masco Corp
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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