Masco Corp (NYSE:MAS) – Investment analysts at B. Riley increased their FY2018 earnings per share (EPS) estimates for Masco in a research note issued on Wednesday. B. Riley analyst A. Rygiel now expects that the construction company will post earnings of $2.56 per share for the year, up from their previous forecast of $2.20. B. Riley has a “Buy” rating on the stock.
Several other brokerages also recently weighed in on MAS. JPMorgan Chase & Co. downgraded shares of Masco from an “overweight” rating to a “neutral” rating in a report on Friday. Zacks Investment Research downgraded shares of Masco from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. Barclays set a $45.00 price target on shares of Masco and gave the stock a “buy” rating in a report on Wednesday, October 25th. FBR & Co reiterated a “buy” rating and issued a $46.00 price target (up previously from $43.00) on shares of Masco in a report on Wednesday, October 25th. Finally, Nomura set a $45.00 price target on shares of Masco and gave the stock a “buy” rating in a report on Wednesday, October 25th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $43.47.
Masco (NYSE:MAS) last issued its quarterly earnings results on Tuesday, October 24th. The construction company reported $0.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.03). Masco had a negative return on equity of 7,325.00% and a net margin of 7.23%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter last year, the company posted $0.41 EPS. Masco’s quarterly revenue was up 3.1% compared to the same quarter last year.
Several large investors have recently made changes to their positions in MAS. AJO LP lifted its position in shares of Masco by 1,209.7% during the 2nd quarter. AJO LP now owns 3,165,592 shares of the construction company’s stock valued at $120,957,000 after buying an additional 2,923,889 shares in the last quarter. BlackRock Inc. lifted its position in shares of Masco by 9.9% during the 2nd quarter. BlackRock Inc. now owns 30,658,112 shares of the construction company’s stock valued at $1,171,447,000 after buying an additional 2,763,057 shares in the last quarter. Northern Trust Corp lifted its position in shares of Masco by 31.3% during the 2nd quarter. Northern Trust Corp now owns 8,246,426 shares of the construction company’s stock valued at $315,096,000 after buying an additional 1,963,938 shares in the last quarter. FMR LLC lifted its position in shares of Masco by 7.5% during the 2nd quarter. FMR LLC now owns 20,535,390 shares of the construction company’s stock valued at $784,657,000 after buying an additional 1,439,946 shares in the last quarter. Finally, Alyeska Investment Group L.P. lifted its position in shares of Masco by 41.4% during the 3rd quarter. Alyeska Investment Group L.P. now owns 2,814,420 shares of the construction company’s stock valued at $109,791,000 after buying an additional 824,665 shares in the last quarter. Hedge funds and other institutional investors own 88.93% of the company’s stock.
In other news, Director Lokeren Mary Ann Van sold 16,850 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $38.85, for a total transaction of $654,622.50. Following the transaction, the director now owns 47,909 shares in the company, valued at approximately $1,861,264.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO John G. Sznewajs sold 52,511 shares of the stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $39.83, for a total value of $2,091,513.13. Following the transaction, the chief financial officer now owns 391,443 shares in the company, valued at approximately $15,591,174.69. The disclosure for this sale can be found here. In the last 90 days, insiders sold 88,961 shares of company stock worth $3,537,891. Insiders own 1.30% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 12th. Shareholders of record on Friday, January 12th will be given a $0.105 dividend. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $0.42 annualized dividend and a yield of 0.95%. Masco’s dividend payout ratio is presently 24.85%.
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Masco Company Profile
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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