Evercore ISI Cuts Masco (NYSE:MAS) Price Target to $74.00

Masco (NYSE:MAS) had its price target lowered by Evercore ISI from $75.00 to $74.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an in-line rating on the construction company’s stock.

MAS has been the topic of several other research reports. Royal Bank of Canada raised their price objective on Masco from $73.00 to $79.00 and gave the stock an outperform rating in a research note on Friday, February 9th. Truist Financial boosted their price target on shares of Masco from $65.00 to $81.00 and gave the stock a buy rating in a research note on Friday, February 9th. Citigroup raised their target price on shares of Masco from $74.00 to $79.00 and gave the stock a neutral rating in a report on Friday, April 5th. Oppenheimer assumed coverage on shares of Masco in a report on Friday, January 19th. They set a market perform rating for the company. Finally, StockNews.com downgraded shares of Masco from a buy rating to a hold rating in a report on Wednesday, March 27th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $71.07.

Masco Stock Performance

Shares of NYSE MAS traded up $0.01 during trading on Thursday, reaching $69.88. 566,697 shares of the company traded hands, compared to its average volume of 2,063,148. The company has a current ratio of 1.74, a quick ratio of 1.08 and a debt-to-equity ratio of 18.76. Masco has a 12-month low of $47.66 and a 12-month high of $78.94. The stock has a market cap of $15.41 billion, a P/E ratio of 17.13, a PEG ratio of 2.17 and a beta of 1.25. The firm’s fifty day simple moving average is $75.23 and its 200 day simple moving average is $66.76.

Masco (NYSE:MAS) last announced its quarterly earnings data on Wednesday, April 24th. The construction company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.06. Masco had a return on equity of 865.37% and a net margin of 11.60%. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the business earned $0.87 earnings per share. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. As a group, research analysts anticipate that Masco will post 4.11 earnings per share for the current fiscal year.

Masco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Thursday, February 22nd were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.66%. This is a boost from Masco’s previous quarterly dividend of $0.29. The ex-dividend date was Wednesday, February 21st. Masco’s dividend payout ratio is 28.43%.

Insider Transactions at Masco

In other Masco news, VP Richard Allan Marshall sold 5,000 shares of Masco stock in a transaction on Friday, March 1st. The stock was sold at an average price of $77.05, for a total transaction of $385,250.00. Following the completion of the transaction, the vice president now directly owns 10,465 shares of the company’s stock, valued at $806,328.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, VP Kenneth G. Cole sold 36,210 shares of Masco stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $74.65, for a total transaction of $2,703,076.50. Following the sale, the vice president now directly owns 58,885 shares in the company, valued at approximately $4,395,765.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Richard Allan Marshall sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $77.05, for a total value of $385,250.00. Following the completion of the sale, the vice president now owns 10,465 shares of the company’s stock, valued at approximately $806,328.25. The disclosure for this sale can be found here. Insiders sold 83,762 shares of company stock valued at $6,337,597 over the last three months. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Masco

A number of institutional investors have recently bought and sold shares of MAS. Mesirow Financial Investment Management Inc. acquired a new stake in shares of Masco in the first quarter valued at about $205,000. New York State Teachers Retirement System lifted its stake in Masco by 1.3% during the first quarter. New York State Teachers Retirement System now owns 232,411 shares of the construction company’s stock worth $18,333,000 after purchasing an additional 2,904 shares during the last quarter. Equitable Trust Co. grew its holdings in Masco by 4.8% during the first quarter. Equitable Trust Co. now owns 8,149 shares of the construction company’s stock worth $643,000 after acquiring an additional 371 shares during the period. Aaron Wealth Advisors LLC acquired a new stake in shares of Masco during the 1st quarter valued at about $223,000. Finally, Patton Albertson Miller Group LLC bought a new stake in shares of Masco during the first quarter valued at approximately $227,000. Hedge funds and other institutional investors own 93.91% of the company’s stock.

About Masco

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.