Masco Corp. (MAS) Stock Rating Upgraded by Zacks Investment Research
Masco Corp. (NYSE:MAS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm currently has a $38.00 price objective on the stock. Zacks Investment Research’s price target would indicate a potential upside of 11.90% from the stock’s previous close.
According to Zacks, “Masco’s results in the first two quarters of 2016 were marked by robust growth in earnings, revenues and margins, as the company capitalized on improving momentum in the repair and remodeling and new home construction industry. The company expects repair and remodeling and construction activity to continue to accelerate, which is expected to drive further demand for Masco's leading products in the second half. In addition, management revealed its intention to raise its annual dividend by 5.3% per share, effective from the fourth quarter of 2016. However, adverse currency translations, despite being moderate than 2015 levels, remain a headwind. Further, the company expects the exit of some less profitable direct-to-builder business to hurt Cabinet sales in the upcoming quarters.”
Other equities analysts also recently issued research reports about the stock. Jefferies Group reissued a “buy” rating on shares of Masco Corp. in a research note on Thursday, August 4th. TheStreet upgraded shares of Masco Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, July 21st. Credit Suisse Group AG restated a “buy” rating and issued a $34.00 price target on shares of Masco Corp. in a research report on Wednesday, June 29th. Bank of America Corp. initiated coverage on shares of Masco Corp. in a research report on Friday, September 23rd. They issued a “buy” rating and a $41.00 price target for the company. Finally, Deutsche Bank AG upped their price target 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. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Masco Corp. presently has a consensus rating of “Buy” and a consensus target price of $35.53.
Masco Corp. (NYSE:MAS) traded down 0.085% during midday trading on Tuesday, reaching $33.931. 1,847,871 shares of the company traded hands. The company has a 50 day moving average of $34.60 and a 200-day moving average of $32.95. Masco Corp. has a 12-month low of $23.10 and a 12-month high of $37.38. The stock has a market capitalization of $11.07 billion, a P/E ratio of 25.764 and a beta of 1.83.
Masco Corp. (NYSE:MAS) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ 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 net margin of 6.12% and a return on equity of 780.00%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.38 EPS. Equities analysts anticipate that Masco Corp. will post $1.57 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Friday, October 14th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.18%. This is a positive change from Masco Corp.’s previous quarterly dividend of $0.10. The ex-dividend date is Wednesday, October 12th. Masco Corp.’s dividend payout ratio (DPR) is 29.01%.
In related news, Director Richard A. Manoogian sold 44,008 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $30,030,319.48. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Kenneth G. Cole sold 3,609 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $37.23, for a total transaction of $134,363.07. Following the transaction, the vice president now directly owns 79,192 shares of the company’s stock, valued at approximately $2,948,318.16. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the stock. Bessemer Group Inc. raised its stake 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 valued at $105,000 after buying an additional 58 shares during the last quarter. IFP Advisors Inc raised its stake in shares of Masco Corp. by 2.5% in the second quarter. IFP Advisors Inc now owns 4,000 shares of the company’s stock valued at $124,000 after buying an additional 96 shares during the last quarter. FDx Advisors Inc. raised its stake in shares of Masco Corp. by 1.2% in the second quarter. FDx Advisors Inc. now owns 8,367 shares of the company’s stock valued at $259,000 after buying an additional 97 shares during the last quarter. Bollard Group LLC raised its stake in shares of Masco Corp. by 0.3% in the second quarter. Bollard Group LLC now owns 39,696 shares of the company’s stock valued at $1,228,000 after buying an additional 119 shares during the last quarter. Finally, ING Groep NV raised its stake in shares of Masco Corp. by 2.4% in the first quarter. ING Groep NV now owns 7,669 shares of the company’s stock valued at $241,000 after buying an additional 180 shares during the last quarter. 91.63% of the stock is owned by institutional investors.
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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