The Goldman Sachs Group Cuts Masco (NYSE:MAS) Price Target to $73.00

Masco (NYSE:MAS) had its price target decreased by The Goldman Sachs Group from $82.00 to $73.00 in a research report report published on Thursday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the construction company’s stock.

Several other analysts have also commented on MAS. Zelman & Associates upgraded shares of Masco to a “strong-buy” rating in a research report on Friday, January 17th. Citigroup cut their price objective on Masco from $82.00 to $77.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Truist Financial reduced their price objective on shares of Masco from $92.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday. Robert W. Baird lowered their price target on Masco from $72.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Loop Capital set a $62.00 target price on shares of Masco and gave the stock a “hold” rating in a report on Thursday. Ten research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $73.10.

Masco Stock Performance

Shares of NYSE MAS opened at $60.41 on Thursday. The stock has a market cap of $12.79 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 1.94 and a beta of 1.24. The company has a 50 day simple moving average of $68.19 and a two-hundred day simple moving average of $74.94. Masco has a 12 month low of $56.55 and a 12 month high of $86.70. The company has a current ratio of 1.75, a quick ratio of 1.15 and a debt-to-equity ratio of 20.74.

Masco (NYSE:MAS) last released its quarterly earnings data on Wednesday, April 23rd. The construction company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.05). Masco had a net margin of 10.50% and a return on equity of 838.32%. The company had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.84 billion. As a group, analysts predict that Masco will post 4.34 earnings per share for the current year.

Masco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 21st were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, February 21st. This is a boost from Masco’s previous quarterly dividend of $0.29. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.05%. Masco’s dividend payout ratio is currently 32.98%.

Insider Activity at Masco

In other news, CEO Keith J. Allman sold 21,723 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $76.36, for a total transaction of $1,658,768.28. Following the sale, the chief executive officer now owns 60,267 shares of the company’s stock, valued at approximately $4,601,988.12. This represents a 26.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Renee Straber sold 3,139 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $71.78, for a total transaction of $225,317.42. Following the sale, the vice president now directly owns 33,027 shares in the company, valued at approximately $2,370,678.06. The trade was a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Masco

Institutional investors have recently modified their holdings of the business. Geode Capital Management LLC grew its position in shares of Masco by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 5,129,771 shares of the construction company’s stock worth $371,265,000 after buying an additional 58,739 shares in the last quarter. Northern Trust Corp boosted its position in shares of Masco by 9.5% during the 4th quarter. Northern Trust Corp now owns 3,900,643 shares of the construction company’s stock worth $283,070,000 after acquiring an additional 337,164 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Masco by 10.2% in the 4th quarter. Van ECK Associates Corp now owns 3,250,400 shares of the construction company’s stock valued at $235,881,000 after acquiring an additional 299,520 shares during the last quarter. Nordea Investment Management AB raised its holdings in Masco by 21.0% during the fourth quarter. Nordea Investment Management AB now owns 2,997,839 shares of the construction company’s stock worth $218,063,000 after purchasing an additional 520,555 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Masco by 14.7% in the 4th quarter. Invesco Ltd. now owns 2,821,629 shares of the construction company’s stock valued at $204,766,000 after buying an additional 360,931 shares during the last quarter. Institutional investors and hedge funds own 93.91% of the company’s stock.

About Masco

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.