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

Shares of Masco Co. (NYSE:MAS) gapped down before the market opened 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 changing hands.

Analysts Set New Price Targets

A number of research analysts have weighed in on MAS shares. Citigroup lifted their price target on shares of Masco from $74.00 to $79.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Royal Bank of Canada lifted their price target on shares of Masco from $73.00 to $79.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Truist Financial boosted their target price on shares of Masco from $65.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Oppenheimer assumed coverage on shares of Masco in a research report on Friday, January 19th. They set a “market perform” rating on the stock. Finally, StockNews.com cut shares of Masco from a “buy” rating to a “hold” rating in a research report on Wednesday, March 27th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $69.62.

Masco Trading Down 5.1 %

The company has a quick ratio of 1.08, a current ratio of 1.68 and a debt-to-equity ratio of 30.05. The business’s 50 day moving average is $75.38 and its 200-day moving average is $66.72. The firm has a market cap of $15.29 billion, a P/E ratio of 17.12, a price-to-earnings-growth ratio of 2.24 and a beta of 1.25.

Masco (NYSE:MAS) last issued its quarterly earnings results on Wednesday, April 24th. The construction company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.06. Masco had a net margin of 11.40% and a return on equity of 3,111.50%. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the firm earned $0.87 earnings per share. The business’s revenue was down 2.7% compared to the same quarter last year. As a group, analysts forecast that Masco Co. will post 4.11 earnings per share for the current fiscal year.

Masco Increases Dividend

The company also recently declared 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 represents a $1.16 annualized dividend and a dividend yield of 1.67%. This is a positive change from Masco’s previous quarterly dividend of $0.29. Masco’s dividend payout ratio is currently 28.93%.

Insider Transactions at Masco

In related news, VP Richard Allan Marshall sold 5,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $77.05, for a total value of $385,250.00. Following the completion of the sale, the vice president now owns 10,465 shares of the company’s stock, valued at $806,328.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Kenneth G. Cole sold 36,210 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $74.65, for a total value of $2,703,076.50. Following the completion of the sale, the vice president now owns 58,885 shares of the company’s stock, valued at $4,395,765.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Richard Allan Marshall sold 5,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $77.05, for a total transaction of $385,250.00. Following the completion of the sale, the vice president now directly owns 10,465 shares of the company’s stock, valued at $806,328.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 83,762 shares of company stock worth $6,337,597. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Masco

A number of institutional investors and hedge funds have recently bought and sold shares of MAS. Versant Capital Management Inc lifted its holdings in Masco by 62.4% in the 1st quarter. Versant Capital Management Inc now owns 354 shares of the construction company’s stock valued at $28,000 after acquiring an additional 136 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in Masco by 70.1% in the 1st quarter. Venturi Wealth Management LLC now owns 432 shares of the construction company’s stock valued at $34,000 after acquiring an additional 178 shares during the last quarter. Center for Financial Planning Inc. lifted its holdings in Masco by 270.6% in the 3rd quarter. Center for Financial Planning Inc. now owns 667 shares of the construction company’s stock valued at $36,000 after acquiring an additional 487 shares during the last quarter. Fortitude Family Office LLC acquired a new stake in Masco in the 4th quarter valued at about $39,000. Finally, Union Savings Bank lifted its holdings in Masco by 91.7% in the 4th quarter. Union Savings Bank now owns 575 shares of the construction company’s stock valued at $39,000 after acquiring an additional 275 shares during 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.