Brokerages Set Masco Corp. (NYSE:MAS) Target Price at $35.93
Masco Corp. (NYSE:MAS) has been given a consensus recommendation of “Buy” by the twenty-one research firms that are presently covering the firm. Four research analysts have rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $35.71.
MAS has been the subject of a number of research analyst reports. TheStreet cut shares of Masco Corp. from a “buy” rating to a “hold” rating in a research report on Friday, June 10th. Zacks Investment Research cut shares of Masco Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, June 28th. Credit Suisse Group AG restated a “buy” rating and set a $34.00 price objective on shares of Masco Corp. in a research report on Wednesday, June 29th. Jefferies Group restated a “buy” rating on shares of Masco Corp. in a research report on Wednesday, July 6th. Finally, FBR & Co upped their price objective on shares of Masco Corp. from $36.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 27th.
Masco Corp. (NYSE:MAS) opened at 34.93 on Tuesday. Masco Corp. has a 12-month low of $23.10 and a 12-month high of $37.38. The stock has a market cap of $11.39 billion, a P/E ratio of 26.52 and a beta of 1.83. The stock has a 50 day moving average of $34.49 and a 200 day moving average of $32.99.
Masco Corp. (NYSE:MAS) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.03. The company earned $2 billion during the quarter, compared to analysts’ expectations of $2 billion. Masco Corp. had a net margin of 6.12% and a return on equity of 780.00%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.38 earnings per share. On average, equities research analysts anticipate that Masco Corp. will post $1.57 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Friday, October 14th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.15%. The ex-dividend date is Wednesday, October 12th. This is a positive change from Masco Corp.’s previous quarterly dividend of $0.10. Masco Corp.’s dividend payout ratio (DPR) is 29.01%.
In other news, Director Richard A. Manoogian sold 35,244 shares of the stock in a transaction dated Tuesday, August 9th. The shares were 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 $27,796,325.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John G. Sznewajs sold 19,353 shares of the stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $37.22, for a total transaction of $720,318.66. Following the sale, the chief financial officer now directly owns 295,979 shares in the company, valued at approximately $11,016,338.38. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.
Several hedge funds have recently modified their holdings of MAS. Boothbay Fund Management LLC acquired a new stake in shares of Masco Corp. during the first quarter valued at about $10,532,000. FMR LLC boosted its stake in shares of Masco Corp. by 119.3% in the second quarter. FMR LLC now owns 13,777,625 shares of the company’s stock valued at $426,281,000 after buying an additional 7,495,650 shares in the last quarter. Anchor Bolt Capital LP acquired a new stake in shares of Masco Corp. during the first quarter valued at about $47,731,000. Societe Generale acquired a new stake in shares of Masco Corp. during the second quarter valued at about $43,482,000. Finally, Cibc World Markets Corp boosted its stake in shares of Masco Corp. by 1,731.1% in the second quarter. Cibc World Markets Corp now owns 1,299,663 shares of the company’s stock valued at $40,212,000 after buying an additional 1,228,684 shares in the last quarter. 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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