Masco Corp (NYSE:MAS) – Analysts at Gabelli upped their FY2019 earnings estimates for shares of Masco Corp in a report issued on Thursday. Gabelli analyst A. Lacayo now expects that the construction company will post earnings per share of $2.40 for the year, up from their previous forecast of $2.30.
Several other research analysts have also issued reports on MAS. Robert W. Baird reaffirmed an “outperform” rating and set a $40.00 target price on shares of Masco Corp in a research report on Wednesday. Instinet reaffirmed a “buy” rating and set a $41.00 target price (up from $39.00) on shares of Masco Corp in a research report on Friday. MKM Partners reaffirmed a “buy” rating and set a $43.00 target price (up from $40.00) on shares of Masco Corp in a research report on Friday. Barclays PLC reiterated an “overweight” rating and set a $36.00 price target (down previously from $37.00) on shares of Masco Corp in a research note on Thursday, February 16th. Finally, Deutsche Bank AG boosted their price target on Masco Corp from $31.00 to $35.00 and gave the company a “hold” rating in a research note on Friday, April 28th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $39.76.
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Masco Corp (NYSE:MAS) traded up 0.16% during midday trading on Friday, hitting $37.08. The company had a trading volume of 975,417 shares. The stock has a 50 day moving average price of $35.34 and a 200-day moving average price of $33.34. The stock has a market capitalization of $11.72 billion, a PE ratio of 23.47 and a beta of 1.51. Masco Corp has a 52 week low of $29.11 and a 52 week high of $37.58.
Masco Corp (NYSE:MAS) last released its quarterly earnings data on Tuesday, April 25th. The construction company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.35 by $0.06. Masco Corp had a return on equity of 1,293.51% and a net margin of 6.67%. The company had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the firm posted $0.32 earnings per share. Masco Corp’s revenue was up 3.3% compared to the same quarter last year.
Several institutional investors have recently made changes to their positions in MAS. BlackRock Inc. boosted its position in shares of Masco Corp by 1,387.4% in the first quarter. BlackRock Inc. now owns 27,895,055 shares of the construction company’s stock worth $948,149,000 after buying an additional 26,019,679 shares during the last quarter. FMR LLC boosted its position in shares of Masco Corp by 1.2% in the first quarter. FMR LLC now owns 19,095,444 shares of the construction company’s stock worth $649,054,000 after buying an additional 235,564 shares during the last quarter. State Street Corp boosted its position in shares of Masco Corp by 5.3% in the fourth quarter. State Street Corp now owns 16,041,738 shares of the construction company’s stock worth $507,236,000 after buying an additional 808,972 shares during the last quarter. Boston Partners boosted its position in shares of Masco Corp by 7.4% in the first quarter. Boston Partners now owns 8,887,709 shares of the construction company’s stock worth $302,093,000 after buying an additional 611,363 shares during the last quarter. Finally, Pioneer Investment Management Inc. boosted its position in shares of Masco Corp by 6.3% in the first quarter. Pioneer Investment Management Inc. now owns 6,679,450 shares of the construction company’s stock worth $227,035,000 after buying an additional 392,963 shares during the last quarter. 88.65% of the stock is owned by institutional investors and hedge funds.
In other Masco Corp news, VP Christopher K. Kastner sold 5,463 shares of the stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $33.80, for a total transaction of $184,649.40. Following the completion of the transaction, the vice president now owns 35,524 shares of the company’s stock, valued at $1,200,711.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard A. Manoogian sold 61,340 shares of the stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $36.99, for a total value of $2,268,966.60. Following the transaction, the director now directly owns 716,885 shares of the company’s stock, valued at approximately $26,517,576.15. The disclosure for this sale can be found here. Insiders have sold 109,133 shares of company stock valued at $4,012,215 in the last three months. Insiders own 1.70% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Monday, May 8th. Shareholders of record on Monday, April 17th were issued a dividend of $0.10 per share. The ex-dividend date was Wednesday, April 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.08%. Masco Corp’s payout ratio is currently 27.21%.
About Masco Corp
Masco Corporation designs, manufactures, markets and distributes branded home improvement and building products. The Company operates through four business segments: Plumbing Products, Decorative Architectural Products, Cabinetry Products, and Windows and Other Specialty Products. The Company’s portfolio of brands includes BEHR paint; DELTA and HANSGROHE faucets, bath and shower fixtures; KRAFTMAID and MERILLAT cabinets; MILGARD windows and doors, and HOT SPRING spas.
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