Masco Corp. (MAS) Receives New Coverage from Analysts at Wells Fargo & Co.
A number of other research analysts also recently commented on MAS. FBR & Co started coverage on Masco Corp. in a research note on Wednesday, June 1st. They issued a buy rating for the company. Macquarie upgraded Masco Corp. from a neutral rating to an outperform rating in a research report on Wednesday, June 1st. TheStreet cut Masco Corp. from a buy rating to a hold rating in a research report on Friday, June 10th. Zacks Investment Research cut Masco Corp. from a buy rating to a hold rating in a research report on Tuesday, June 28th. Finally, Credit Suisse Group AG reiterated a buy rating and issued a $34.00 target price on shares of Masco Corp. in a research report on Wednesday, June 29th. Four research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $35.71.
Masco Corp. (NYSE:MAS) opened at 34.55 on Wednesday. The firm has a market capitalization of $11.27 billion, a PE ratio of 26.23 and a beta of 1.92. Masco Corp. has a 1-year low of $23.10 and a 1-year high of $37.38. The company’s 50-day moving average is $34.78 and its 200 day moving average is $32.83.
Masco Corp. (NYSE:MAS) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.03. The business earned $2 billion during the quarter, compared to the consensus estimate of $2 billion. Masco Corp. had a return on equity of 780.00% and a net margin of 6.12%. Masco Corp.’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.38 earnings per share. On average, equities analysts expect that Masco Corp. will post $1.57 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 14th. Stockholders of record on Friday, October 14th will be paid a dividend of $0.10 per share. This is an increase from Masco Corp.’s previous quarterly dividend of $0.10. The ex-dividend date is Wednesday, October 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.16%. Masco Corp.’s dividend payout ratio is presently 29.01%.
In related news, Director Richard A. Manoogian sold 35,244 shares of the stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $36.30, for a total transaction of $1,279,357.20. Following the sale, the director now owns 765,739 shares of the company’s stock, valued at approximately $27,796,325.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Kenneth G. Cole sold 3,609 shares of the stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $37.23, for a total value of $134,363.07. Following the sale, the vice president now directly owns 79,192 shares in the company, valued at approximately $2,948,318.16. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Aperio Group LLC boosted its stake in shares of Masco Corp. by 13.3% in the first quarter. Aperio Group LLC now owns 172,344 shares of the company’s stock worth $5,420,000 after buying an additional 20,269 shares during the period. IFP Advisors Inc boosted its stake 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. CIBC World Markets Inc. boosted its stake in shares of Masco Corp. by 33.2% in the first quarter. CIBC World Markets Inc. now owns 29,478 shares of the company’s stock worth $927,000 after buying an additional 7,345 shares during the period. Ngam Advisors L.P. boosted its stake in shares of Masco Corp. by 2.9% in the first quarter. Ngam Advisors L.P. now owns 25,136 shares of the company’s stock worth $791,000 after buying an additional 714 shares during the period. Finally, FDO Partners LLC bought a new stake in shares of Masco Corp. during the first quarter worth about $433,000. 91.63% of the stock is currently owned by institutional investors and hedge funds.
About Masco Corp.
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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