Masco (NYSE:MAS) Given New $76.00 Price Target at Loop Capital

Masco (NYSE:MAS) had its price objective reduced by Loop Capital from $79.00 to $76.00 in a research note issued to investors on Thursday, Benzinga reports. Loop Capital currently has a hold rating on the construction company’s stock.

A number of other equities research analysts have also recently issued reports on MAS. Truist Financial upped their price target on shares of Masco from $65.00 to $81.00 and gave the company a buy rating in a report on Friday, February 9th. Evercore ISI cut their price target on Masco from $75.00 to $74.00 and set an in-line rating for the company in a report on Thursday. Oppenheimer assumed coverage on Masco in a report on Friday, January 19th. They set a market perform rating on the stock. Royal Bank of Canada raised their target price on Masco from $79.00 to $80.00 and gave the stock an outperform rating in a research report on Thursday. Finally, Citigroup boosted their price target on shares of Masco from $74.00 to $79.00 and gave the company a neutral rating in a report on Friday, April 5th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Masco has an average rating of Moderate Buy and a consensus price target of $71.07.

Masco Stock Up 0.1 %

Shares of Masco stock traded up $0.09 during midday trading on Thursday, hitting $69.96. The company’s stock had a trading volume of 916,918 shares, compared to its average volume of 2,067,061. The firm has a market capitalization of $15.43 billion, a P/E ratio of 17.13, a PEG ratio of 2.17 and a beta of 1.25. Masco has a 1-year low of $47.66 and a 1-year high of $78.94. The company has a quick ratio of 1.08, a current ratio of 1.74 and a debt-to-equity ratio of 18.76. The stock has a 50-day simple moving average of $75.23 and a 200-day simple moving average of $66.76.

Masco (NYSE:MAS) last posted its quarterly earnings results on Wednesday, April 24th. The construction company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.06. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.94 billion. Masco had a net margin of 11.60% and a return on equity of 865.37%. Masco’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.87 earnings per share. As a group, sell-side analysts expect that Masco will post 4.11 earnings per share for the current year.

Masco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Thursday, February 22nd were issued a $0.29 dividend. 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%. The ex-dividend date of this dividend was Wednesday, February 21st. Masco’s payout ratio is presently 28.43%.

Insider Buying and Selling at Masco

In related news, insider Jai Shah sold 42,552 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $76.36, for a total transaction of $3,249,270.72. Following 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 filing with the SEC, which can be accessed through this link. In other Masco news, insider Jai Shah sold 42,552 shares of the company’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 transaction, the insider now owns 15,830 shares of the company’s stock, valued at approximately $1,208,778.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Kenneth G. Cole sold 36,210 shares of Masco stock in a transaction on 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 directly owns 58,885 shares of the company’s stock, valued at $4,395,765.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,762 shares of company stock worth $6,337,597. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Masco

Institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC grew its holdings in Masco by 35.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 59,792 shares of the construction company’s stock worth $4,005,000 after acquiring an additional 15,591 shares during the period. New York State Teachers Retirement System boosted its position in shares of Masco by 8.6% in the 4th quarter. New York State Teachers Retirement System now owns 229,507 shares of the construction company’s stock worth $15,372,000 after purchasing an additional 18,140 shares during the last quarter. Ritholtz Wealth Management grew its stake in shares of Masco by 264.5% during the fourth quarter. Ritholtz Wealth Management now owns 18,219 shares of the construction company’s stock worth $1,220,000 after purchasing an additional 13,221 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Masco by 6.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 344,141 shares of the construction company’s stock valued at $23,051,000 after purchasing an additional 21,165 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Masco in the fourth quarter valued at about $2,606,000. Institutional investors and hedge funds own 93.91% of the company’s stock.

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.