Masco (NYSE:MAS) Shares Gap Up Following Earnings Beat

Shares of Masco Corporation (NYSE:MAS) gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $65.73, but opened at $71.66. Masco shares last traded at $69.51, with a volume of 1,111,473 shares trading hands.

The construction company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.08 by $0.22. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2 billion. Masco had a return on equity of 1,320.76% and a net margin of 10.30%. The company’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.20 EPS.

Masco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Friday, August 8th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.8%. Masco’s dividend payout ratio (DPR) is presently 33.88%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Barclays increased their price target on shares of Masco from $71.00 to $77.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Robert W. Baird cut Masco from an “outperform” rating to a “neutral” rating and set a $70.00 target price on the stock. in a report on Tuesday, July 22nd. Loop Capital set a $62.00 price target on Masco and gave the stock a “hold” rating in a report on Thursday, April 24th. The Goldman Sachs Group reduced their price objective on Masco from $82.00 to $73.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Masco in a research report on Wednesday, May 28th. Twelve research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $74.03.

Institutional Investors Weigh In On Masco

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Masco by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 27,092,099 shares of the construction company’s stock valued at $1,883,985,000 after purchasing an additional 984,403 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Masco by 1.2% in the 4th 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 during the period. Invesco Ltd. boosted its holdings in Masco by 47.4% in the first quarter. Invesco Ltd. now owns 4,159,518 shares of the construction company’s stock valued at $289,253,000 after acquiring an additional 1,337,889 shares during the last quarter. Northern Trust Corp grew its position in Masco by 9.5% during the fourth quarter. Northern Trust Corp now owns 3,900,643 shares of the construction company’s stock valued at $283,070,000 after acquiring an additional 337,164 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Masco by 4.2% during the first quarter. JPMorgan Chase & Co. now owns 3,882,253 shares of the construction company’s stock worth $269,972,000 after acquiring an additional 155,351 shares during the last quarter. 93.91% of the stock is currently owned by hedge funds and other institutional investors.

Masco Stock Up 3.7%

The company has a market capitalization of $14.38 billion, a price-to-earnings ratio of 18.63, a price-to-earnings-growth ratio of 2.68 and a beta of 1.19. The company has a 50 day simple moving average of $64.50 and a 200 day simple moving average of $68.14.

Masco Company Profile

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.