Masco (NYSE:MAS) Given New $79.00 Price Target at Oppenheimer

Masco (NYSE:MAS) had its price target increased by Oppenheimer from $73.00 to $79.00 in a research report released on Monday,Benzinga reports. The brokerage currently has an outperform rating on the construction company’s stock.

MAS has been the subject of several other research reports. Royal Bank Of Canada increased their price target on shares of Masco from $62.00 to $71.00 and gave the company a “sector perform” rating in a research note on Friday. Jefferies Financial Group dropped their price target on shares of Masco from $64.00 to $62.00 and set a “hold” rating for the company in a research note on Wednesday, April 23rd. Evercore ISI dropped their price target on shares of Masco from $82.00 to $71.00 and set an “in-line” rating for the company in a research note on Thursday, April 24th. Baird R W cut shares of Masco from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 22nd. Finally, Truist Financial dropped their price target on shares of Masco from $92.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Twelve equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $74.13.

Masco Stock Up 1.1%

Shares of NYSE MAS opened at $69.56 on Monday. Masco has a 12-month low of $56.55 and a 12-month high of $86.70. The stock has a market cap of $14.56 billion, a PE ratio of 18.45, a P/E/G ratio of 2.52 and a beta of 1.16. The company has a current ratio of 1.82, a quick ratio of 1.14 and a debt-to-equity ratio of 19.63. The company has a 50-day moving average of $64.80 and a 200 day moving average of $67.90.

Masco (NYSE:MAS) last announced its quarterly earnings data on Thursday, July 31st. The construction company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.22. Masco had a net margin of 10.51% and a return on equity of 1,519.31%. The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2 billion. During the same quarter in the prior year, the company earned $1.20 EPS. Masco’s revenue was down 1.9% compared to the same quarter last year. As a group, sell-side analysts predict that Masco will post 4.34 EPS for the current fiscal year.

Masco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Friday, August 8th will be issued a dividend of $0.31 per share. The ex-dividend date is Friday, August 8th. This represents a $1.24 dividend on an annualized basis and a yield of 1.8%. Masco’s dividend payout ratio is 32.89%.

Institutional Investors Weigh In On Masco

A number of hedge funds have recently added to or reduced their stakes in the business. HB Wealth Management LLC lifted its holdings in Masco by 2.9% during the 2nd quarter. HB Wealth Management LLC now owns 5,522 shares of the construction company’s stock worth $355,000 after buying an additional 157 shares in the last quarter. Harvest Investment Advisors LLC lifted its holdings in Masco by 0.7% during the 1st quarter. Harvest Investment Advisors LLC now owns 23,063 shares of the construction company’s stock worth $1,604,000 after buying an additional 165 shares in the last quarter. Applied Finance Capital Management LLC lifted its holdings in Masco by 3.2% during the 2nd quarter. Applied Finance Capital Management LLC now owns 5,593 shares of the construction company’s stock worth $360,000 after buying an additional 173 shares in the last quarter. Transcend Capital Advisors LLC raised its holdings in shares of Masco by 2.8% in the 2nd quarter. Transcend Capital Advisors LLC now owns 6,503 shares of the construction company’s stock valued at $419,000 after purchasing an additional 176 shares in the last quarter. Finally, Abundance Wealth Counselors raised its holdings in shares of Masco by 1.0% in the 2nd quarter. Abundance Wealth Counselors now owns 18,651 shares of the construction company’s stock valued at $1,242,000 after purchasing an additional 184 shares in the last quarter. 93.91% of the stock is currently owned by institutional investors and hedge funds.

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.