Wells Fargo & Company Reiterates Equal Weight Rating for Masco (NYSE:MAS)

Wells Fargo & Company reissued their equal weight rating on shares of Masco (NYSE:MAS) in a research note released on Tuesday morning, MarketBeat Ratings reports. The firm currently has a $85.00 price objective on the construction company’s stock, down from their prior price objective of $92.00.

A number of other brokerages also recently commented on MAS. Robert W. Baird lowered their price target on shares of Masco from $95.00 to $94.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. BMO Capital Markets lifted their target price on shares of Masco from $78.00 to $85.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada lowered Masco from an “outperform” rating to a “sector perform” rating and increased their price target for the stock from $79.00 to $80.00 in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on Masco from $80.00 to $83.50 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Finally, Truist Financial increased their target price on Masco from $84.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $85.88.

Masco Price Performance

MAS stock opened at $76.57 on Tuesday. The stock’s 50 day moving average price is $80.82 and its 200 day moving average price is $76.71. The firm has a market cap of $16.52 billion, a P/E ratio of 20.36, a PEG ratio of 2.57 and a beta of 1.23. The company has a debt-to-equity ratio of 20.74, a quick ratio of 1.21 and a current ratio of 1.83. Masco has a 1 year low of $63.60 and a 1 year high of $86.70.

Masco (NYSE:MAS) last issued its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.08. The business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $2 billion. Masco had a return on equity of 615.54% and a net margin of 10.54%. The business’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business earned $1.00 earnings per share. On average, sell-side analysts expect that Masco will post 4.09 earnings per share for the current fiscal year.

Masco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Friday, November 8th were issued a $0.29 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.16 annualized dividend and a yield of 1.51%. Masco’s payout ratio is 30.85%.

Institutional Investors Weigh In On Masco

Institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. lifted its stake in shares of Masco by 956.3% during the third quarter. Assenagon Asset Management S.A. now owns 989,640 shares of the construction company’s stock worth $83,070,000 after purchasing an additional 895,950 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Masco by 66.5% during the 2nd quarter. Acadian Asset Management LLC now owns 1,823,934 shares of the construction company’s stock valued at $121,581,000 after buying an additional 728,690 shares during the period. Bank of Montreal Can lifted its position in Masco by 86.5% during the 2nd quarter. Bank of Montreal Can now owns 634,740 shares of the construction company’s stock worth $42,318,000 after acquiring an additional 294,409 shares in the last quarter. Barclays PLC boosted its holdings in Masco by 49.2% in the 3rd quarter. Barclays PLC now owns 883,859 shares of the construction company’s stock worth $74,192,000 after acquiring an additional 291,658 shares during the period. Finally, Teachers Retirement System of The State of Kentucky grew its position in Masco by 89.5% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 579,597 shares of the construction company’s stock valued at $38,642,000 after acquiring an additional 273,718 shares in the last quarter. 93.91% of the stock is currently owned by hedge funds and other institutional investors.

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.