Masco (NYSE:MAS) PT Lowered to $46.00

Masco (NYSE:MAS) had its price target reduced by Robert W. Baird from $48.00 to $46.00 in a report published on Wednesday, BenzingaRatingsTable reports. Robert W. Baird currently has an outperform rating on the construction company’s stock.

A number of other equities analysts have also weighed in on MAS. Argus lifted their price target on shares of Masco from $44.00 to $48.00 and gave the company a buy rating in a report on Monday, September 9th. Raymond James set a $50.00 price target on shares of Masco and gave the company a buy rating in a report on Friday, July 26th. Barclays set a $45.00 price target on shares of Masco and gave the company a buy rating in a report on Friday, July 26th. JPMorgan Chase & Co. lifted their price target on shares of Masco from $42.00 to $45.00 and gave the company a neutral rating in a report on Wednesday. Finally, TheStreet lowered shares of Masco from a b rating to a c+ rating in a report on Friday, July 26th. Seven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $45.50.

Shares of MAS opened at $40.63 on Wednesday. The firm has a market cap of $12.01 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 1.74 and a beta of 1.41. The company’s fifty day moving average is $40.24 and its two-hundred day moving average is $39.19. Masco has a fifty-two week low of $27.03 and a fifty-two week high of $43.59. The company has a quick ratio of 0.96, a current ratio of 1.46 and a debt-to-equity ratio of 39.03.

Masco (NYSE:MAS) last announced its quarterly earnings results on Thursday, July 25th. The construction company reported $0.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.07. The company had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.34 billion. Masco had a net margin of 8.77% and a return on equity of 792.80%. Masco’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter last year, the business earned $0.75 EPS. As a group, equities research analysts anticipate that Masco will post 2.66 earnings per share for the current year.

Masco declared that its Board of Directors has approved a share buyback plan on Tuesday, September 17th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 16.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Friday, October 11th will be paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Thursday, October 10th. This is an increase from Masco’s previous quarterly dividend of $0.12. Masco’s dividend payout ratio (DPR) is currently 19.20%.

In other news, CFO John G. Sznewajs sold 85,473 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $40.88, for a total value of $3,494,136.24. Following the transaction, the chief financial officer now owns 318,403 shares of the company’s stock, valued at approximately $13,016,314.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.17% of the company’s stock.

Several hedge funds have recently modified their holdings of MAS. Geode Capital Management LLC increased its stake in Masco by 7.1% during the 4th quarter. Geode Capital Management LLC now owns 3,821,402 shares of the construction company’s stock worth $111,533,000 after buying an additional 252,240 shares during the period. Dimensional Fund Advisors LP increased its stake in Masco by 17.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,246,159 shares of the construction company’s stock worth $36,436,000 after buying an additional 180,698 shares during the period. Janney Montgomery Scott LLC increased its stake in Masco by 22.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 10,027 shares of the construction company’s stock worth $394,000 after buying an additional 1,828 shares during the period. Moors & Cabot Inc. purchased a new stake in Masco during the 1st quarter worth $232,000. Finally, Sumitomo Mitsui Asset Management Company LTD increased its stake in Masco by 14.7% during the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 22,438 shares of the construction company’s stock worth $882,000 after buying an additional 2,878 shares during the period. 90.15% 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 worldwide. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, toilets, acrylic tubs, shower trays, spas, exercise pools, fitness systems, and other non-decorative plumbing products; brass, copper, and composite plumbing system components; and thermoplastic extrusions, extruded plastic profiles, and specialized fabrications.

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