Barclays Raises Masco (NYSE:MAS) Price Target to $92.00

Masco (NYSE:MAS) had its price objective hoisted by Barclays from $88.00 to $92.00 in a research report released on Wednesday morning, Benzinga reports. Barclays currently has an overweight rating on the construction company’s stock.

Other analysts have also recently issued reports about the stock. BMO Capital Markets boosted their price objective on shares of Masco from $75.00 to $78.00 and gave the company a market perform rating in a research note on Wednesday, July 31st. Wells Fargo & Company increased their target price on shares of Masco from $90.00 to $92.00 and gave the stock an overweight rating in a research report on Monday, October 7th. Robert W. Baird increased their price target on Masco from $84.00 to $88.00 and gave the company an outperform rating in a report on Friday, July 26th. Truist Financial raised their target price on Masco from $81.00 to $84.00 and gave the company a buy rating in a report on Friday, July 26th. Finally, Royal Bank of Canada lifted their price objective on shares of Masco from $78.00 to $79.00 and gave the company an outperform rating in a research note on Friday, July 26th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $80.58.

Masco Stock Performance

NYSE MAS opened at $83.49 on Wednesday. The company has a current ratio of 1.76, a quick ratio of 1.12 and a debt-to-equity ratio of 16.18. The company has a market capitalization of $18.22 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 2.64 and a beta of 1.24. The business’s 50-day moving average price is $79.33 and its 200 day moving average price is $73.87. Masco has a twelve month low of $47.66 and a twelve month high of $84.69.

Masco (NYSE:MAS) last announced its quarterly earnings data on Thursday, July 25th. The construction company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.02. Masco had a net margin of 11.59% and a return on equity of 602.39%. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same period in the prior year, the firm posted $1.19 EPS. The company’s revenue was down 1.7% on a year-over-year basis. On average, research analysts predict that Masco will post 4.11 earnings per share for the current year.

Masco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 2nd were paid a dividend of $0.29 per share. The ex-dividend date was Friday, August 2nd. This represents a $1.16 annualized dividend and a yield of 1.39%. Masco’s dividend payout ratio (DPR) is 28.36%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Manning & Napier Advisors LLC acquired a new position in Masco in the second quarter worth approximately $82,363,000. Confluence Investment Management LLC bought a new position in Masco during the first quarter valued at approximately $78,181,000. Acadian Asset Management LLC raised its holdings in shares of Masco by 66.5% during the 2nd quarter. Acadian Asset Management LLC now owns 1,823,934 shares of the construction company’s stock valued at $121,581,000 after purchasing an additional 728,690 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Masco by 2.8% in the first quarter. Vanguard Group Inc. now owns 26,300,591 shares of the construction company’s stock worth $2,074,591,000 after buying an additional 721,117 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in Masco by 55.8% in the 1st quarter. Lazard Asset Management LLC now owns 1,538,952 shares of the construction company’s stock worth $121,391,000 after purchasing an additional 551,203 shares during the last quarter. 93.91% of the stock is currently owned by institutional investors.

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.