Masco Corp. (MAS) Sets New 52-Week High at $32.92
Masco Corp. (NYSE:MAS) reached a new 52-week high on Monday . The stock traded as high as $32.92 and last traded at $32.81, with a volume of 4,056,667 shares traded. The stock had previously closed at $32.22.
Several equities research analysts recently weighed in on MAS shares. Zacks Investment Research upgraded shares of Masco Corp. from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Wednesday, April 20th. Barclays PLC increased their price objective on shares of Masco Corp. from $31.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, April 7th. JPMorgan Chase & Co. increased their price objective on shares of Masco Corp. from $31.00 to $34.50 and gave the stock an “overweight” rating in a research note on Thursday, March 24th. Vertical Research lowered shares of Masco Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, March 31st. Finally, Jefferies Group reiterated a “buy” rating on shares of Masco Corp. in a research note on Wednesday, July 6th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $32.83.
The firm has a 50 day moving average price of $31.39 and a 200 day moving average price of $29.64. The firm has a market capitalization of $10.78 billion and a PE ratio of 28.11.
Masco Corp. (NYSE:MAS) last released its quarterly earnings results on Tuesday, April 26th. The company reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.06. The company earned $1.72 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the company earned $0.18 EPS. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities analysts predict that Masco Corp. will post $1.53 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 8th. Stockholders of record on Friday, July 8th will be given a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Wednesday, July 6th.
In other news, insider Richard A. O’reagan sold 6,000 shares of the business’s stock in a transaction on Thursday, June 23rd. The shares were sold at an average price of $31.36, for a total value of $188,160.00. Following the sale, the insider now owns 85,705 shares of the company’s stock, valued at $2,687,708.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Renee Straber sold 3,694 shares of the business’s stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $32.60, for a total transaction of $120,424.40. Following the completion of the sale, the vice president now directly owns 61,442 shares in the company, valued at approximately $2,003,009.20. The disclosure for this sale can be found here.
Several hedge funds have made changes to their positions in the company. Old Mutual Global Investors UK Ltd. acquired a new stake in shares of Masco Corp. during the fourth quarter worth approximately $7,112,000. First Houston Capital Inc. acquired a new stake in shares of Masco Corp. during the fourth quarter worth approximately $1,129,000. Synovus Financial Corp raised its stake in shares of Masco Corp. by 47,000.0% in the fourth quarter. Synovus Financial Corp now owns 46,158 shares of the company’s stock worth $1,306,000 after buying an additional 46,060 shares in the last quarter. OppenheimerFunds Inc. raised its stake in shares of Masco Corp. by 358.2% in the fourth quarter. OppenheimerFunds Inc. now owns 1,202,035 shares of the company’s stock worth $34,019,000 after buying an additional 939,725 shares in the last quarter. Finally, Stevens Capital Management LP acquired a new stake in shares of Masco Corp. during the fourth quarter worth approximately $5,396,000.
Masco Corporation designs, manufactures, markets and distributes branded home improvement and building products. The Company operates through four business segments: Cabinets and Related Products, Plumbing Products, Decorative Architectural Products and Other Specialty Products. It has a portfolio of brands, which includes KRAFTMAID, MERILLAT and PEERLESS.
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