Masco (NYSE:MAS) Shares Gap Down to $73.01

Shares of Masco Co. (NYSE:MAS) gapped down prior to trading on Wednesday . The stock had previously closed at $73.01, but opened at $70.05. Masco shares last traded at $70.01, with a volume of 899,138 shares.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MAS. Citigroup raised their target price on Masco from $74.00 to $79.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Oppenheimer began coverage on Masco in a report on Friday, January 19th. They set a “market perform” rating on the stock. Evercore ISI reduced their target price on Masco from $75.00 to $74.00 and set an “in-line” rating for the company in a research note on Thursday. Royal Bank of Canada lifted their price target on shares of Masco from $79.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, StockNews.com upgraded shares of Masco from a “hold” rating to a “buy” rating in a research note on Thursday. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.07.

Masco Trading Up 0.2 %

The company has a debt-to-equity ratio of 18.76, a quick ratio of 1.08 and a current ratio of 1.74. The firm has a fifty day moving average of $75.23 and a 200-day moving average of $66.76. The firm has a market cap of $15.41 billion, a P/E ratio of 17.13, a P/E/G ratio of 2.17 and a beta of 1.25.

Masco (NYSE:MAS) last released its quarterly earnings results on Wednesday, April 24th. The construction company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.87 by $0.06. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.94 billion. Masco had a net margin of 11.60% and a return on equity of 865.37%. The company’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.87 earnings per share. Equities research analysts forecast that Masco Co. will post 4.11 earnings per share for the current year.

Masco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Thursday, February 22nd were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This is an increase from Masco’s previous quarterly dividend of $0.29. This represents a $1.16 annualized dividend and a dividend yield of 1.66%. Masco’s payout ratio is currently 28.43%.

Insider Buying and Selling

In other Masco news, insider Jai Shah sold 42,552 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $76.36, for a total transaction of $3,249,270.72. Following the completion of the transaction, the insider now owns 15,830 shares in the company, valued at approximately $1,208,778.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Richard Allan Marshall sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $77.05, for a total transaction of $385,250.00. Following the transaction, the vice president now owns 10,465 shares in the company, valued at $806,328.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jai Shah sold 42,552 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $76.36, for a total value of $3,249,270.72. Following the sale, the insider now directly owns 15,830 shares in the company, valued at approximately $1,208,778.80. The disclosure for this sale can be found here. Insiders sold 83,762 shares of company stock valued at $6,337,597 in the last three months. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Masco

Several hedge funds have recently modified their holdings of MAS. Vanguard Group Inc. grew its holdings in Masco by 1.2% during the third quarter. Vanguard Group Inc. now owns 25,787,414 shares of the construction company’s stock worth $1,378,337,000 after acquiring an additional 298,116 shares during the period. Harris Associates L P raised its holdings in shares of Masco by 1.5% in the 4th quarter. Harris Associates L P now owns 9,769,194 shares of the construction company’s stock worth $654,341,000 after purchasing an additional 140,334 shares in the last quarter. Boston Partners lifted its stake in Masco by 1.8% during the fourth quarter. Boston Partners now owns 9,180,364 shares of the construction company’s stock valued at $615,282,000 after purchasing an additional 159,052 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Masco by 4.8% during the fourth quarter. Van ECK Associates Corp now owns 5,574,976 shares of the construction company’s stock worth $373,411,000 after buying an additional 254,040 shares in the last quarter. Finally, Northern Trust Corp grew its position in Masco by 3.8% in the third quarter. Northern Trust Corp now owns 3,934,986 shares of the construction company’s stock worth $210,325,000 after buying an additional 145,472 shares during the last quarter. 93.91% 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 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.