Masco (NYSE:MAS) Now Covered by Goldman Sachs Group

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Goldman Sachs Group began coverage on shares of Masco (NYSE:MAS) in a research note released on Friday, Benzinga reports. The firm issued a buy rating and a $55.00 price objective on the construction company’s stock.

MAS has been the topic of a number of other reports. Zelman & Associates downgraded shares of Masco from a buy rating to a hold rating in a report on Thursday, October 31st. They noted that the move was a valuation call. SunTrust Banks dropped their price objective on shares of Masco from $50.00 to $48.00 and set a buy rating for the company in a report on Thursday, September 19th. TheStreet upgraded Masco from a c+ rating to a b- rating in a research report on Tuesday, October 22nd. Deutsche Bank initiated coverage on Masco in a report on Wednesday, November 27th. They issued a buy rating and a $52.00 target price on the stock. Finally, Bank of America decreased their target price on Masco from $56.00 to $54.00 and set a buy rating on the stock in a research report on Wednesday, September 18th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $47.71.

Shares of MAS opened at $46.36 on Friday. The firm has a market cap of $13.26 billion, a P/E ratio of 18.54, a price-to-earnings-growth ratio of 2.42 and a beta of 1.42. The company has a debt-to-equity ratio of 120.48, a current ratio of 1.46 and a quick ratio of 0.98. Masco has a 1 year low of $27.03 and a 1 year high of $47.51. The company has a 50 day simple moving average of $45.70 and a two-hundred day simple moving average of $41.14.

Masco (NYSE:MAS) last released its earnings results on Wednesday, October 30th. The construction company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.01). Masco had a return on equity of 1,500.49% and a net margin of 8.27%. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the firm posted $0.61 EPS. Masco’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Masco will post 2.23 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Friday, October 11th were issued a $0.135 dividend. This is an increase from Masco’s previous quarterly dividend of $0.12. The ex-dividend date was Thursday, October 10th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.16%. Masco’s dividend payout ratio (DPR) is presently 21.60%.

Masco declared that its board has approved a stock buyback program on Tuesday, September 17th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the construction company to buy up to 16.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

In related news, CFO John G. Sznewajs sold 20,000 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $46.36, for a total transaction of $927,200.00. Also, insider Jai Shah sold 73,118 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $45.63, for a total value of $3,336,374.34. In the last quarter, insiders sold 249,338 shares of company stock valued at $11,429,523. 1.17% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the business. First Trust Advisors LP purchased a new position in shares of Masco during the 1st quarter worth about $1,280,000. Arizona State Retirement System raised its holdings in shares of Masco by 0.9% in the second quarter. Arizona State Retirement System now owns 91,430 shares of the construction company’s stock worth $3,588,000 after buying an additional 823 shares during the period. Strs Ohio raised its holdings in shares of Masco by 265.6% in the second quarter. Strs Ohio now owns 14,815 shares of the construction company’s stock worth $581,000 after buying an additional 10,763 shares during the period. Ballentine Partners LLC purchased a new stake in shares of Masco in the second quarter worth approximately $219,000. Finally, Steward Partners Investment Advisory LLC bought a new stake in shares of Masco during the 2nd quarter worth approximately $342,000. Institutional investors and hedge funds own 91.45% of the company’s stock.

Masco Company Profile

Masco Corporation designs, manufactures, and distributes home improvement and building products worldwide. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, toilets, acrylic tubs, shower trays, spas, exercise pools, fitness systems, and other non-decorative plumbing products; brass, copper, and composite plumbing system components; and thermoplastic extrusions, extruded plastic profiles, and specialized fabrications.

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Analyst Recommendations for Masco (NYSE:MAS)

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