Masco Co. (NYSE:MAS – Get Rating) – Jefferies Financial Group raised their FY2022 earnings per share (EPS) estimates for shares of Masco in a research note issued to investors on Wednesday, April 27th. Jefferies Financial Group analyst P. Ng now forecasts that the construction company will post earnings per share of $4.21 for the year, up from their previous estimate of $4.07.
A number of other research firms also recently issued reports on MAS. JPMorgan Chase & Co. dropped their price target on Masco from $60.00 to $54.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 20th. Wells Fargo & Company decreased their price target on Masco from $70.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, April 21st. Zacks Investment Research raised Masco from a “sell” rating to a “hold” rating and set a $57.00 target price on the stock in a report on Friday. KeyCorp dropped their price target on Masco from $79.00 to $72.00 and set an “overweight” rating for the company in a research report on Wednesday, February 9th. Finally, StockNews.com upgraded Masco from a “hold” rating to a “buy” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $64.69.
Masco (NYSE:MAS – Get Rating) last issued its quarterly earnings results on Wednesday, April 27th. The construction company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.10. Masco had a return on equity of 3,870.83% and a net margin of 6.38%. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same period in the previous year, the firm posted $0.89 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA grew its holdings in Masco by 3.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 21,229,307 shares of the construction company’s stock worth $1,490,722,000 after acquiring an additional 615,687 shares in the last quarter. State Street Corp boosted its holdings in shares of Masco by 2.0% in the 4th quarter. State Street Corp now owns 11,502,439 shares of the construction company’s stock valued at $807,701,000 after buying an additional 221,519 shares during the period. Pictet Asset Management SA lifted its position in Masco by 6.1% in the 4th quarter. Pictet Asset Management SA now owns 5,453,874 shares of the construction company’s stock valued at $382,971,000 after purchasing an additional 315,343 shares during the last quarter. Geode Capital Management LLC lifted its position in Masco by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 4,403,661 shares of the construction company’s stock valued at $308,386,000 after purchasing an additional 100,336 shares during the last quarter. Finally, AustralianSuper Pty Ltd lifted its position in Masco by 3.1% in the 1st quarter. AustralianSuper Pty Ltd now owns 4,118,639 shares of the construction company’s stock valued at $210,051,000 after purchasing an additional 124,036 shares during the last quarter. Institutional investors own 92.35% of the company’s stock.
In other news, CEO Keith J. Allman sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, April 14th. The shares were sold at an average price of $49.88, for a total value of $498,800.00. Following the completion of the transaction, the chief executive officer now owns 298,295 shares of the company’s stock, valued at $14,878,954.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO John G. Sznewajs sold 12,447 shares of the company’s stock in a transaction that occurred on Wednesday, February 9th. The stock was sold at an average price of $60.25, for a total transaction of $749,931.75. The disclosure for this sale can be found here. Insiders have sold a total of 66,331 shares of company stock worth $3,911,613 over the last quarter. 1.20% of the stock is owned by company insiders.
The business also recently declared a quarterly dividend, which was paid on Monday, March 14th. Investors of record on Friday, February 25th were paid a dividend of $0.28 per share. This is a positive change from Masco’s previous quarterly dividend of $0.24. This represents a $1.12 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend was Thursday, February 24th. Masco’s dividend payout ratio (DPR) is currently 49.34%.
About Masco (Get Rating)
Masco Corporation designs, manufactures, and distributes home improvement and building products in North America, Europe, and internationally. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, sinks, toilets, acrylic tubs, shower trays, spas, exercise pools, and fitness systems; brass, copper, and composite plumbing system components; connected water products; thermoplastic solutions, extruded plastic profiles, specialized fabrications, and PEX tubing products; and other non-decorative plumbing products.
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