Masco (NYSE:MAS) Price Target Raised to $83.50

Masco (NYSE:MAS) had its price objective boosted by JPMorgan Chase & Co. from $80.00 to $83.50 in a research note issued to investors on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the construction company’s stock.

MAS has been the topic of a number of other research reports. Evercore ISI lifted their price target on shares of Masco from $78.00 to $82.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Truist Financial lifted their price objective on shares of Masco from $84.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company raised their price target on shares of Masco from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. StockNews.com downgraded Masco from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Citigroup reduced their price target on shares of Masco from $73.00 to $66.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Masco has an average rating of “Moderate Buy” and a consensus target price of $85.96.

Masco Price Performance

Shares of NYSE MAS traded up $1.44 during midday trading on Tuesday, reaching $81.68. 345,605 shares of the company traded hands, compared to its average volume of 1,800,019. The company has a debt-to-equity ratio of 20.74, a quick ratio of 1.21 and a current ratio of 1.83. The firm has a market cap of $17.62 billion, a PE ratio of 21.34, a PEG ratio of 2.62 and a beta of 1.24. The stock’s 50-day simple moving average is $81.71 and its 200-day simple moving average is $74.77. Masco has a 12 month low of $55.13 and a 12 month high of $86.70.

Masco (NYSE:MAS) last posted its earnings results on Tuesday, October 29th. The construction company reported $1.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.08. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $2 billion. Masco had a return on equity of 615.54% and a net margin of 10.54%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.00 EPS. As a group, equities analysts anticipate that Masco will post 4.1 earnings per share for the current fiscal year.

Masco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Friday, November 8th. Masco’s dividend payout ratio is 30.85%.

Insider Transactions at Masco

In related news, VP Kenneth G. Cole sold 37,814 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $78.32, for a total transaction of $2,961,592.48. Following the completion of the transaction, the vice president now owns 36,980 shares of the company’s stock, valued at $2,896,273.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norden Group LLC purchased a new position in Masco in the 1st quarter worth about $389,000. First Trust Direct Indexing L.P. purchased a new position in Masco during the first quarter valued at approximately $211,000. Janney Montgomery Scott LLC boosted its position in shares of Masco by 1.1% in the first quarter. Janney Montgomery Scott LLC now owns 16,215 shares of the construction company’s stock worth $1,279,000 after purchasing an additional 183 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Masco by 25.4% in the first quarter. Daiwa Securities Group Inc. now owns 25,032 shares of the construction company’s stock worth $1,974,000 after purchasing an additional 5,076 shares in the last quarter. Finally, Rehmann Capital Advisory Group raised its position in shares of Masco by 13.9% during the 1st quarter. Rehmann Capital Advisory Group now owns 4,354 shares of the construction company’s stock valued at $343,000 after purchasing an additional 531 shares during the period. Institutional investors own 93.91% of the company’s stock.

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.