Masco (NYSE:MAS) Price Target Raised to $73.00

Masco (NYSE:MAS) had its target price boosted by Wells Fargo & Company from $65.00 to $73.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the construction company’s stock.

MAS has been the subject of several other reports. Truist Financial decreased their price objective on shares of Masco from $92.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, April 24th. The Goldman Sachs Group dropped their price objective on Masco from $82.00 to $73.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Royal Bank of Canada decreased their target price on Masco from $74.00 to $62.00 and set a “sector perform” rating for the company in a research note on Thursday, April 24th. Loop Capital set a $62.00 price target on shares of Masco and gave the stock a “hold” rating in a research report on Thursday, April 24th. Finally, Evercore ISI reduced their price objective on shares of Masco from $82.00 to $71.00 and set an “in-line” rating for the company in a research report on Thursday, April 24th. Ten research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $73.63.

Masco Stock Performance

Shares of MAS stock opened at $67.68 on Wednesday. Masco has a 12-month low of $56.55 and a 12-month high of $86.70. The company has a debt-to-equity ratio of 20.74, a current ratio of 1.75 and a quick ratio of 1.15. The firm has a market capitalization of $14.28 billion, a price-to-earnings ratio of 18.00, a price-to-earnings-growth ratio of 1.94 and a beta of 1.23. The business has a 50 day simple moving average of $64.81 and a 200 day simple moving average of $72.91.

Masco (NYSE:MAS) last released its quarterly earnings results on Wednesday, April 23rd. The construction company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.05). The business had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.84 billion. Masco had a return on equity of 838.32% and a net margin of 10.50%. The company’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.93 EPS. On average, equities research analysts anticipate that Masco will post 4.34 EPS for the current year.

Masco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.31 per share. The ex-dividend date is Friday, May 23rd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.83%. Masco’s dividend payout ratio is 33.88%.

Insider Buying and Selling

In other news, VP Renee Straber sold 3,139 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $71.78, for a total transaction of $225,317.42. Following the transaction, the vice president now directly owns 33,027 shares in the company, valued at $2,370,678.06. The trade was a 8.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Keith J. Allman sold 21,723 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $76.36, for a total value 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 disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Masco

Large investors have recently made changes to their positions in the company. Global X Japan Co. Ltd. increased its stake in shares of Masco by 120.2% during the 1st quarter. Global X Japan Co. Ltd. now owns 381 shares of the construction company’s stock worth $26,000 after purchasing an additional 208 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Masco during the 4th quarter worth about $27,000. Alpine Bank Wealth Management acquired a new position in shares of Masco during the 1st quarter valued at about $29,000. Kestra Investment Management LLC bought a new position in shares of Masco in the 4th quarter valued at approximately $30,000. Finally, Costello Asset Management INC acquired a new stake in Masco in the 1st quarter worth approximately $31,000. Institutional investors 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.