Key Points
- Masco VP Kenneth Cole sold 34,470 shares on October 30 at an average price of $80.64, for about $2.78 million. His remaining direct holdings fell 46.47% to 39,700 shares.
- Masco’s latest quarterly results beat expectations: earnings were $1.19 per share versus a $1.02 consensus, while revenue reached $1.97 billion and increased 2.6% year over year.
- The company announced a quarterly dividend of $0.32 per share, equivalent to $1.28 annually and a 1.6% yield. Analysts’ consensus rating was Hold, with an average price target of $80.94.
Masco Corporation (NYSE:MAS - Get Free Report) VP Kenneth Cole sold 34,470 shares of the stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $80.64, for a total value of $2,779,660.80. Following the transaction, the vice president directly owned 39,700 shares of the company's stock, valued at approximately $3,201,408. This trade represents a 46.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Masco Price Performance
Shares of NYSE MAS opened at $82.19 on Wednesday. The company's fifty day moving average is $71.64 and its two-hundred day moving average is $71.01. The firm has a market capitalization of $15.84 billion, a P/E ratio of 17.79, a PEG ratio of 1.85 and a beta of 1.21. The company has a debt-to-equity ratio of 109.07, a quick ratio of 1.20 and a current ratio of 1.83. Masco Corporation has a one year low of $58.16 and a one year high of $83.85.
Masco (NYSE:MAS - Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The construction company reported $1.19 EPS for the quarter, beating analysts' consensus estimates of $1.02 by $0.17. The firm had revenue of $1.97 billion for the quarter, compared to analysts' expectations of $1.93 billion. Masco had a net margin of 12.07% and a negative return on equity of 1,807.69%. The firm's revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.97 EPS. Analysts forecast that Masco Corporation will post 4.72 EPS for the current fiscal year.
Masco Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Friday, November 6th will be issued a dividend of $0.32 per share. The ex-dividend date is Friday, November 6th. This represents a $1.28 annualized dividend and a dividend yield of 1.6%. Masco's dividend payout ratio (DPR) is 27.71%.
Analyst Upgrades and Downgrades
MAS has been the subject of several analyst reports. Barclays upped their target price on Masco from $79.00 to $82.00 and gave the company an "equal weight" rating in a research note on Thursday, October 29th. DA Davidson set a $82.00 price target on Masco in a research note on Thursday, October 29th. Zacks Research cut Masco from a "strong-buy" rating to a "hold" rating in a report on Friday, August 14th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $95.00 price objective on shares of Masco in a research note on Wednesday, October 28th. Finally, Weiss Ratings upgraded shares of Masco from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, October 16th. Seven research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Masco has a consensus rating of "Hold" and an average price target of $80.94.
Read Our Latest Stock Report on MAS
Institutional Trading of Masco
Several institutional investors have recently made changes to their positions in MAS. Nykredit A S acquired a new position in Masco in the second quarter valued at $2,456,000. Hsbc Holdings PLC grew its position in Masco by 7.2% during the second quarter. Hsbc Holdings PLC now owns 369,842 shares of the construction company's stock valued at $30,116,000 after acquiring an additional 24,934 shares during the period. Balefire LLC acquired a new stake in Masco during the first quarter worth about $1,021,000. CWA Asset Management Group LLC acquired a new stake in Masco during the third quarter worth about $4,038,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Masco during the second quarter worth about $13,269,000. 93.91% of the stock is owned by hedge funds and other institutional investors.
About Masco
(
Get Free Report)
Masco Corporation (NYSE: MAS) is a manufacturer of branded home improvement and building products. The company's portfolio includes faucets, showering and bathing products, architectural coatings, decorative hardware and related products sold to residential and commercial customers.
Masco operates through two principal areas: Plumbing Products and Decorative Architectural Products. Its brands include Delta Faucet, Brizo, Hansgrohe, Behr Paint and Kichler Lighting, among others. These products are distributed through home improvement retailers, specialty dealers, distributors and other channels.
Founded in 1929 by Alex Manoogian, Masco is headquartered in Livonia, Michigan, and serves customers primarily in North America and Europe, with products sold in additional international markets.
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