Masco Corp.’s (MAS) “Buy” Rating Reiterated at JPMorgan Chase & Co.

Masco Corp. (NYSE:MAS)‘s stock had its “buy” rating restated by JPMorgan Chase & Co. in a research note issued to investors on Wednesday. They currently have a $39.00 price target on the stock. JPMorgan Chase & Co.’s price objective indicates a potential upside of 8.79% from the stock’s previous close.

A number of institutional investors have recently made changes to their positions in the stock. Bessemer Group Inc. raised its position in shares of Masco Corp. by 1.8% in the first quarter. Bessemer Group Inc. now owns 3,334 shares of the company’s stock worth $105,000 after buying an additional 58 shares during the last quarter. IFP Advisors Inc raised its position in shares of Masco Corp. by 203.8% in the first quarter. IFP Advisors Inc now owns 3,904 shares of the company’s stock worth $123,000 after buying an additional 2,619 shares during the last quarter. YHB Investment Advisors Inc. purchased a new position in shares of Masco Corp. during the second quarter worth approximately $213,000. Reynolds Capital Management LLC purchased a new position in shares of Masco Corp. during the first quarter worth approximately $214,000. Finally, ING Groep NV raised its position in shares of Masco Corp. by 2.4% in the first quarter. ING Groep NV now owns 7,669 shares of the company’s stock worth $241,000 after buying an additional 180 shares during the last quarter.

Other research analysts also recently issued reports about the company. Jefferies Group reaffirmed a “buy” rating on shares of Masco Corp. in a report on Wednesday, July 6th. Credit Suisse Group AG reaffirmed a “buy” rating and set a $34.00 price target on shares of Masco Corp. in a report on Wednesday, June 29th. Zacks Investment Research downgraded Masco Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, June 28th. TheStreet downgraded Masco Corp. from a “buy” rating to a “hold” rating in a report on Friday, June 10th. Finally, FBR & Co reaffirmed an “outperform” rating and set a $36.00 price target (up from $32.00) on shares of Masco Corp. in a report on Wednesday, April 27th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $34.47.

Shares of Masco Corp. (NYSE:MAS) traded up 1.65% on Wednesday, reaching $36.44. The company’s stock had a trading volume of 8,005,022 shares. The company’s 50-day moving average is $31.98 and its 200 day moving average is $30.13. Masco Corp. has a 12-month low of $23.10 and a 12-month high of $36.65. The company has a market capitalization of $11.98 billion and a price-to-earnings ratio of 31.23.

Masco Corp. (NYSE:MAS) last released its earnings results on Tuesday, July 26th. The company reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.03. The company earned $2 billion during the quarter, compared to the consensus estimate of $2 billion. The company’s revenue was up 3.7% compared to the same quarter last year. During the same period last year, the firm posted $0.38 earnings per share. Equities analysts anticipate that Masco Corp. will post $1.52 earnings per share for the current fiscal year.

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Wednesday, July 6th.

In other news, Director Richard A. Manoogian sold 77,959 shares of the company’s stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $31.33, for a total value of $2,442,455.47. Following the completion of the transaction, the director now owns 1,065,739 shares of the company’s stock, valued at $33,389,602.87. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Renee Straber sold 3,694 shares of the company’s stock in a transaction dated 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 directly 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.

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.