Royal Bank Of Canada Increases Masco Corporation (MAS) Price Target to $47.00

Masco Corporation (NYSE:MAS) had its target price hoisted by Royal Bank Of Canada from $44.00 to $47.00 in a report released on Wednesday morning, MarketBeat.com reports. The firm currently has an outperform rating on the construction company’s stock.

Other equities research analysts have also issued research reports about the company. MKM Partners reissued a buy rating and set a $44.00 target price (up previously from $43.00) on shares of Masco Corporation in a research report on Tuesday, August 1st. Zacks Investment Research raised Masco Corporation from a hold rating to a buy rating and set a $43.00 target price on the stock in a research report on Tuesday, September 26th. Robert W. Baird reissued a buy rating and set a $42.00 target price on shares of Masco Corporation in a research report on Monday, August 28th. Jefferies Group LLC reissued a buy rating and set a $45.00 target price on shares of Masco Corporation in a research report on Wednesday, July 19th. Finally, Longbow Research reissued a buy rating and set a $42.00 target price on shares of Masco Corporation in a research report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. Masco Corporation has a consensus rating of Buy and an average price target of $42.71.

Masco Corporation (NYSE:MAS) opened at 40.16 on Wednesday. The firm has a market cap of $12.67 billion, a P/E ratio of 24.84 and a beta of 1.54. Masco Corporation has a 12-month low of $29.38 and a 12-month high of $41.10. The stock’s 50 day moving average is $38.72 and its 200 day moving average is $37.61.

Masco Corporation (NYSE:MAS) last issued its 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). Masco Corporation had a negative return on equity of 7,325.00% and a net margin of 7.23%. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the business posted $0.41 EPS. Masco Corporation’s revenue was up 3.1% on a year-over-year basis. On average, equities research analysts expect that Masco Corporation will post $1.95 EPS for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Friday, October 13th will be given a dividend of $0.105 per share. This is a positive change from Masco Corporation’s previous quarterly dividend of $0.10. The ex-dividend date is Thursday, October 12th. This represents a $0.42 annualized dividend and a yield of 1.05%. Masco Corporation’s payout ratio is 25.00%.

In other news, CFO John G. Sznewajs sold 52,511 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 391,443 shares of the company’s stock, valued at $15,591,174.69. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Kenneth G. Cole sold 2,266 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $37.36, for a total value of $84,657.76. Following the completion of the transaction, the vice president now directly owns 85,693 shares in the company, valued at approximately $3,201,490.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 93,638 shares of company stock worth $3,690,544. 1.30% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the company. Mckinley Capital Management LLC Delaware acquired a new position in shares of Masco Corporation in the second quarter valued at approximately $101,000. YorkBridge Wealth Partners LLC increased its holdings in shares of Masco Corporation by 4.6% in the second quarter. YorkBridge Wealth Partners LLC now owns 2,895 shares of the construction company’s stock valued at $110,000 after purchasing an additional 127 shares during the period. Trust Co. of Vermont increased its holdings in shares of Masco Corporation by 4.4% in the second quarter. Trust Co. of Vermont now owns 2,964 shares of the construction company’s stock valued at $113,000 after purchasing an additional 125 shares during the period. Advisory Services Network LLC increased its holdings in shares of Masco Corporation by 27.6% in the second quarter. Advisory Services Network LLC now owns 3,532 shares of the construction company’s stock valued at $135,000 after purchasing an additional 763 shares during the period. Finally, Fiduciary Trust Co. acquired a new position in shares of Masco Corporation in the second quarter valued at approximately $166,000. 88.33% of the stock is currently owned by institutional investors and hedge funds.

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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