Masco (NYSE:MAS) Sets New 52-Week Low on Analyst Downgrade

Masco Co. (NYSE:MAS)’s share price reached a new 52-week low on Wednesday after Barclays lowered their price target on the stock from $87.00 to $75.00. Barclays currently has an overweight rating on the stock. Masco traded as low as $57.81 and last traded at $58.66, with a volume of 2732453 shares. The stock had previously closed at $60.96.

Several other research firms have also issued reports on MAS. Jefferies Financial Group lowered Masco from a “buy” rating to a “hold” rating and dropped their price objective for the company from $96.00 to $89.00 in a research note on Monday, December 16th. Deutsche Bank Aktiengesellschaft began coverage on Masco in a report on Tuesday, April 1st. They set a “hold” rating and a $71.00 price target for the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $74.00 price objective on shares of Masco in a report on Wednesday, February 12th. The Goldman Sachs Group raised their target price on shares of Masco from $85.00 to $96.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, Oppenheimer upgraded shares of Masco from a “market perform” rating to an “outperform” rating and set a $89.00 price target on the stock in a research note on Friday, January 10th. Ten analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $84.50.

Insiders Place Their Bets

In related news, CEO Keith J. Allman sold 21,723 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $76.36, for a total transaction of $1,658,768.28. Following the sale, the chief executive officer now owns 60,267 shares in the company, valued at approximately $4,601,988.12. This trade represents a 26.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Renee Straber sold 3,139 shares of Masco stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $71.78, for a total transaction of $225,317.42. Following the completion of the transaction, the vice president now directly owns 33,027 shares in the company, valued at $2,370,678.06. This trade represents a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Masco

Several hedge funds and other institutional investors have recently modified their holdings of the business. Golden State Wealth Management LLC bought a new stake in shares of Masco during the 4th quarter worth $27,000. ORG Wealth Partners LLC bought a new position in shares of Masco in the fourth quarter worth about $27,000. Kestra Investment Management LLC bought a new position in shares of Masco in the fourth quarter worth about $30,000. Lee Danner & Bass Inc. bought a new stake in shares of Masco during the 4th quarter valued at approximately $42,000. Finally, GeoWealth Management LLC increased its position in Masco by 89.0% during the 4th quarter. GeoWealth Management LLC now owns 684 shares of the construction company’s stock worth $50,000 after purchasing an additional 322 shares in the last quarter. Institutional investors own 93.91% of the company’s stock.

Masco Stock Performance

The company has a debt-to-equity ratio of 20.74, a quick ratio of 1.15 and a current ratio of 1.75. The firm has a market cap of $12.42 billion, a P/E ratio of 15.60, a P/E/G ratio of 1.94 and a beta of 1.24. The company’s 50 day moving average is $72.82 and its 200 day moving average is $77.00.

Masco (NYSE:MAS) last announced its quarterly earnings results on Tuesday, February 11th. The construction company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Masco had a return on equity of 838.32% and a net margin of 10.50%. During the same period in the previous year, the business posted $0.83 earnings per share. As a group, equities analysts predict that Masco Co. will post 4.34 earnings per share for the current fiscal year.

Masco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 21st were issued a dividend of $0.31 per share. This is a boost from Masco’s previous quarterly dividend of $0.29. This represents a $1.24 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Friday, February 21st. Masco’s payout ratio is 32.98%.

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.