Wells Fargo & Company Boosts Masco (NYSE:MAS) Price Target to $92.00

Masco (NYSE:MAS) had its price target hoisted by Wells Fargo & Company from $90.00 to $92.00 in a report published on Monday, Benzinga reports. They currently have an overweight rating on the construction company’s stock.

MAS has been the topic of several other research reports. BMO Capital Markets raised their price objective on Masco from $75.00 to $78.00 and gave the company a market perform rating in a report on Wednesday, July 31st. Barclays raised their price objective on Masco from $79.00 to $88.00 and gave the company an overweight rating in a report on Friday, July 26th. Truist Financial raised their price objective on Masco from $81.00 to $84.00 and gave the company a buy rating in a report on Friday, July 26th. Royal Bank of Canada raised their price objective on Masco from $78.00 to $79.00 and gave the company an outperform rating in a report on Friday, July 26th. Finally, Robert W. Baird lifted their target price on Masco from $84.00 to $88.00 and gave the stock an outperform rating in a report on Friday, July 26th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Masco currently has an average rating of Moderate Buy and a consensus price target of $80.58.

Masco Stock Up 0.9 %

Shares of NYSE MAS opened at $83.98 on Monday. The company has a market cap of $18.50 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 2.59 and a beta of 1.24. The company has a current ratio of 1.76, a quick ratio of 1.12 and a debt-to-equity ratio of 16.18. Masco has a 12 month low of $47.66 and a 12 month high of $84.69. The stock has a 50-day moving average price of $79.02 and a two-hundred day moving average price of $73.75.

Masco (NYSE:MAS) last issued its quarterly earnings data on Thursday, July 25th. The construction company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.18 by $0.02. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.10 billion. Masco had a net margin of 11.59% and a return on equity of 602.39%. The firm’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.19 EPS. As a group, analysts forecast that Masco will post 4.11 earnings per share for the current fiscal year.

Masco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 2nd were paid a $0.29 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $1.16 annualized dividend and a dividend yield of 1.38%. Masco’s dividend payout ratio is currently 28.43%.

Insider Buying and Selling

In other news, VP Kenneth G. Cole sold 37,814 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $78.32, for a total transaction of $2,961,592.48. Following the transaction, the vice president now owns 36,980 shares in the company, valued at approximately $2,896,273.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Masco

Institutional investors have recently modified their holdings of the company. New Covenant Trust Company N.A. acquired a new stake in Masco in the 1st quarter valued at $25,000. Innealta Capital LLC acquired a new position in shares of Masco during the second quarter valued at about $25,000. Versant Capital Management Inc increased its position in shares of Masco by 62.4% during the first quarter. Versant Capital Management Inc now owns 354 shares of the construction company’s stock worth $28,000 after acquiring an additional 136 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of Masco in the 2nd quarter worth about $30,000. Finally, Massmutual Trust Co. FSB ADV lifted its position in Masco by 46.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the construction company’s stock valued at $38,000 after acquiring an additional 179 shares in 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.