Masco (NYSE:MAS) Price Target Raised to $92.00

Masco (NYSE:MAS) had its price objective increased by Truist Financial from $84.00 to $92.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

Several other brokerages also recently commented on MAS. Jefferies Financial Group upped their price objective on shares of Masco from $89.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. StockNews.com upgraded Masco from a “hold” rating to a “buy” rating in a report on Monday, October 21st. Wells Fargo & Company boosted their target price on Masco from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Barclays raised their price target on Masco from $88.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Finally, Robert W. Baird reduced their price objective on shares of Masco from $95.00 to $94.00 and set an “outperform” rating on the stock in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Masco presently has a consensus rating of “Hold” and an average target price of $84.85.

Masco Trading Up 0.3 %

Shares of Masco stock traded up $0.27 during trading on Wednesday, reaching $80.18. The company’s stock had a trading volume of 982,059 shares, compared to its average volume of 1,812,301. The company has a market cap of $17.30 billion, a price-to-earnings ratio of 21.32, a PEG ratio of 2.71 and a beta of 1.24. The firm’s 50-day moving average is $81.60 and its two-hundred day moving average is $74.53. Masco has a 52-week low of $53.44 and a 52-week high of $86.70. The company has a quick ratio of 1.12, a current ratio of 1.83 and a debt-to-equity ratio of 20.74.

Masco (NYSE:MAS) last announced its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.08 earnings per share for the quarter, meeting the consensus estimate of $1.08. Masco had a return on equity of 615.54% and a net margin of 10.54%. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $2 billion. During the same quarter in the previous year, the company posted $1.00 earnings per share. The business’s revenue was up .2% on a year-over-year basis. On average, sell-side analysts anticipate that Masco will post 4.11 earnings per share for the current year.

Masco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.16 annualized dividend and a dividend yield of 1.45%. Masco’s payout ratio is currently 30.85%.

Insiders Place Their Bets

In related news, VP Kenneth G. Cole sold 37,814 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $78.32, for a total value of $2,961,592.48. Following the transaction, the vice president now owns 36,980 shares in the company, valued at $2,896,273.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Masco

A number of institutional investors have recently made changes to their positions in MAS. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Masco by 1.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 539,398 shares of the construction company’s stock valued at $42,548,000 after acquiring an additional 7,064 shares in the last quarter. Norden Group LLC bought a new stake in shares of Masco during the 1st quarter valued at about $389,000. First Trust Direct Indexing L.P. purchased a new stake in Masco during the first quarter valued at approximately $211,000. SpiderRock Advisors LLC bought a new position in Masco in the 1st quarter worth $268,000. Finally, Diversify Advisory Services LLC purchased a new position in Masco during the first quarter valued at $221,000. Hedge funds and other 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.