Masco Corp. (MAS) Sees Strong Trading Volume
Masco Corp. (NYSE:MAS) shares saw unusually-strong trading volume on Thursday . Approximately 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 equities analysts have recently weighed in on MAS shares. Jefferies Group reaffirmed a “buy” rating on shares of Masco Corp. in a research report on Wednesday, July 6th. Credit Suisse Group AG reaffirmed a “buy” rating and set a $34.00 target price on shares of Masco Corp. in a research report on Wednesday, June 29th. Zacks Investment Research lowered Masco Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, June 28th. TheStreet lowered Masco Corp. from a “buy” rating to a “hold” rating in a research report on Friday, June 10th. Finally, FBR & Co reaffirmed an “outperform” rating and set a $36.00 target price (up from $32.00) on shares of Masco Corp. in a research report on Wednesday, April 27th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $32.83.
The stock has a market capitalization of $11.11 billion and a P/E ratio of 28.95. The firm has a 50-day moving average of $31.80 and a 200-day moving average of $29.96.
Masco Corp. (NYSE:MAS) last announced its quarterly earnings data on Tuesday, April 26th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.06. During the same quarter in the previous year, the firm posted $0.18 EPS. The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.73 billion. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. Analysts forecast that Masco Corp. will post $1.53 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 8th. Stockholders of record on Friday, July 8th will be paid a $0.095 dividend. This represents a $0.38 annualized dividend and a dividend yield of 1.12%. The ex-dividend date 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 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 Securities & Exchange Commission, which can be accessed 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 value of $120,424.40. Following the completion of the transaction, the vice president now owns 61,442 shares of the company’s stock, valued at approximately $2,003,009.20. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have bought and sold shares of the company. Vanguard Group Inc. boosted its position in Masco Corp. by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 29,719,468 shares of the company’s stock valued at $841,061,000 after buying an additional 1,091,852 shares in the last quarter. Morgan Stanley raised its stake in shares of 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 during the last quarter. Wells Fargo & Company MN raised its stake in shares of 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 during 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 valued at $34,019,000 after buying an additional 939,725 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Masco Corp. by 79.2% in the fourth quarter. Principal Financial Group Inc. now owns 887,680 shares of the company’s stock valued at $25,122,000 after buying an additional 392,289 shares during 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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