Masco Corp. (MAS) Sees Strong Trading Volume
Shares of Masco Corp. (NYSE:MAS) saw an uptick in trading volume on Thursday . 8,525,828 shares were traded during trading, an increase of 92% from the previous session’s volume of 4,431,533 shares.The stock last traded at $33.35 and had previously closed at $34.33.
A number of research firms have commented on MAS. MKM Partners upped their price target on Masco Corp. from $27.00 to $29.00 and gave the company a “neutral” rating in a research report on Wednesday, April 27th. Jefferies Group reaffirmed a “buy” rating and set a $37.00 price target (up previously from $34.00) on shares of Masco Corp. in a research report on Thursday, April 28th. TheStreet raised Masco Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, April 26th. Macquarie raised Masco Corp. from a “neutral” rating to an “outperform” rating in a research report on Wednesday, June 1st. Finally, FBR & Co began coverage on Masco Corp. in a research report on Wednesday, June 1st. They set a “buy” rating for the company. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Masco Corp. presently has a consensus rating of “Buy” and an average target price of $32.83.
The company has a market cap of $10.96 billion and a P/E ratio of 28.58. The firm has a 50 day moving average of $31.75 and a 200-day moving average of $29.92.
Masco Corp. (NYSE:MAS) last released its quarterly earnings results on Tuesday, April 26th. The company reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.06. During the same quarter in the prior year, the business posted $0.18 EPS. The company earned $1.72 billion during the quarter, compared to analysts’ expectations of $1.73 billion. The company’s revenue was up 3.7% on a year-over-year basis. Analysts forecast that Masco Corp. will post $1.53 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 8th. Investors of record on Friday, July 8th will be given a $0.095 dividend. The ex-dividend date is Wednesday, July 6th. This represents a $0.38 annualized dividend and a yield of 1.14%.
In related news, insider Richard A. O’reagan sold 6,000 shares of Masco Corp. stock in a transaction dated Thursday, June 23rd. The stock was sold at an average price of $31.36, for a total value of $188,160.00. Following the completion of the transaction, the insider now owns 85,705 shares in the company, valued at $2,687,708.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard A. Manoogian sold 77,959 shares of Masco Corp. stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $31.33, for a total value of $2,442,455.47. Following the completion of the transaction, the director now owns 1,065,739 shares of the company’s stock, valued at approximately $33,389,602.87. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently added to or reduced their stakes in MAS. Wells Fargo & Company MN raised its position in Masco Corp. by 3.9% in the fourth quarter. Wells Fargo & Company MN now owns 1,586,824 shares of the company’s stock valued at $44,907,000 after buying an additional 58,987 shares in the last quarter. Roosevelt Investment Group Inc. raised its position in Masco Corp. by 11.8% in the fourth quarter. Roosevelt Investment Group Inc. now owns 783,894 shares of the company’s stock valued at $22,184,000 after buying an additional 82,937 shares in the last quarter. BP PLC bought a new position in Masco Corp. during the fourth quarter valued at approximately $1,132,000. Morgan Stanley raised its position in Masco Corp. by 132.2% in the fourth quarter. Morgan Stanley now owns 4,504,388 shares of the company’s stock valued at $127,474,000 after buying an additional 2,564,217 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its position in Masco Corp. by 358.2% in the fourth quarter. OppenheimerFunds Inc. now owns 1,202,035 shares of the company’s stock valued at $34,019,000 after buying an additional 939,725 shares in the last quarter.
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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