Masco (NYSE:MAS) Hits New 52-Week High at $82.32

Masco Co. (NYSE:MAS)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $82.32 and last traded at $82.03, with a volume of 127935 shares. The stock had previously closed at $81.04.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MAS shares. Barclays lifted their target price on Masco from $79.00 to $88.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Robert W. Baird upped their price objective on shares of Masco from $84.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Jefferies Financial Group raised their target price on shares of Masco from $83.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Truist Financial upped their price target on shares of Masco from $81.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Citigroup cut their price objective on shares of Masco from $73.00 to $66.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $77.58.

Masco Price Performance

The stock has a 50-day moving average price of $75.59 and a two-hundred day moving average price of $72.91. The stock has a market cap of $17.73 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 2.45 and a beta of 1.24. The company has a current ratio of 1.76, a quick ratio of 1.12 and a debt-to-equity ratio of 16.18.

Masco (NYSE:MAS) last issued its quarterly earnings results on Thursday, July 25th. The construction company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.02. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.10 billion. Masco had a return on equity of 602.39% and a net margin of 11.59%. The company’s revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.19 earnings per share. As a group, equities research analysts forecast that Masco Co. will post 4.11 EPS for the current year.

Masco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 2nd were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Friday, August 2nd. Masco’s payout ratio is 28.43%.

Insider Activity at Masco

In other Masco news, VP Kenneth G. Cole sold 37,814 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were 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 directly owns 36,980 shares of the company’s stock, valued at approximately $2,896,273.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Masco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC acquired a new stake in Masco during the second quarter worth about $3,377,000. Teachers Retirement System of The State of Kentucky boosted its position in Masco by 89.5% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 579,597 shares of the construction company’s stock worth $38,642,000 after purchasing an additional 273,718 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Masco by 9.3% during the 2nd quarter. Cetera Investment Advisers now owns 31,846 shares of the construction company’s stock worth $2,123,000 after purchasing an additional 2,698 shares during the period. Truist Financial Corp lifted its stake in shares of Masco by 6.5% in the 2nd quarter. Truist Financial Corp now owns 61,263 shares of the construction company’s stock valued at $4,084,000 after purchasing an additional 3,724 shares during the period. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in Masco by 3.8% during the second quarter. B. Riley Wealth Advisors Inc. now owns 6,870 shares of the construction company’s stock worth $458,000 after buying an additional 251 shares in the last quarter. 93.91% of the stock is owned by institutional investors and hedge funds.

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.