Shares of Masco Co. (NYSE:MAS) have been given a consensus rating of “Buy” by the twenty-one ratings firms that are presently covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $60.55.
Several analysts have recently weighed in on the stock. Barclays downgraded shares of Masco from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $62.00 to $60.00 in a research report on Friday, December 18th. Credit Suisse Group lifted their target price on shares of Masco from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, February 10th. They noted that the move was a valuation call. Jefferies Financial Group cut shares of Masco from a “buy” rating to a “hold” rating and cut their target price for the company from $69.00 to $61.00 in a report on Monday, January 4th. BMO Capital Markets assumed coverage on shares of Masco in a report on Wednesday, January 13th. They issued a “market perform” rating and a $62.00 target price on the stock. Finally, Loop Capital cut shares of Masco from a “buy” rating to a “hold” rating and set a $61.00 target price on the stock. in a report on Wednesday, February 10th.
Shares of NYSE:MAS opened at $61.10 on Monday. The company has a market capitalization of $15.71 billion, a PE ratio of 11.29, a P/E/G ratio of 1.23 and a beta of 1.33. The company has a current ratio of 2.01, a quick ratio of 1.54 and a debt-to-equity ratio of 8.17. Masco has a twelve month low of $37.62 and a twelve month high of $62.86. The firm has a 50 day simple moving average of $56.62 and a 200-day simple moving average of $55.66.
Masco announced that its board has approved a stock repurchase program on Tuesday, February 9th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 13.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
In other Masco news, CEO Keith J. Allman sold 28,261 shares of the company’s stock in a transaction dated Friday, February 5th. The shares were sold at an average price of $56.21, for a total value of $1,588,550.81. Following the transaction, the chief executive officer now directly owns 340,484 shares in the company, valued at approximately $19,138,605.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO John G. Sznewajs sold 7,615 shares of the stock in a transaction dated Friday, February 5th. The stock was sold at an average price of $56.21, for a total transaction of $428,039.15. Following the transaction, the chief financial officer now owns 222,475 shares in the company, valued at $12,505,319.75. The disclosure for this sale can be found here. Insiders sold a total of 44,075 shares of company stock worth $2,452,777 over the last quarter. Insiders own 1.23% of the company’s stock.
Several hedge funds have recently made changes to their positions in MAS. First Trust Advisors LP purchased a new position in shares of Masco during the 1st quarter worth about $1,280,000. First Allied Advisory Services Inc. acquired a new stake in Masco during the 3rd quarter worth approximately $516,000. Allianz Asset Management GmbH increased its position in Masco by 1,461.5% during the 3rd quarter. Allianz Asset Management GmbH now owns 289,344 shares of the construction company’s stock worth $15,952,000 after purchasing an additional 270,814 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in Masco during the 3rd quarter worth approximately $1,797,000. Finally, Wetherby Asset Management Inc. increased its position in Masco by 16.6% during the 3rd quarter. Wetherby Asset Management Inc. now owns 6,595 shares of the construction company’s stock worth $364,000 after purchasing an additional 939 shares in the last quarter. Institutional investors and hedge funds own 90.93% 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 operates through two segments, Plumbing Products and Decorative Architectural Products. The 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.
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