Masco Co. (NYSE:MAS) Short Interest Down 18.3% in September

Masco Co. (NYSE:MAS) was the target of a large drop in short interest during the month of September. As of September 15th, there was short interest totalling 3,340,000 shares, a drop of 18.3% from the August 31st total of 4,090,000 shares. Based on an average daily volume of 1,800,000 shares, the short-interest ratio is presently 1.9 days. Currently, 1.5% of the company’s stock are short sold.

Masco Stock Up 0.5 %

Shares of Masco stock opened at $83.57 on Monday. The company has a debt-to-equity ratio of 16.18, a current ratio of 1.76 and a quick ratio of 1.12. The stock has a market cap of $18.41 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 2.59 and a beta of 1.24. The firm’s 50-day moving average is $77.73 and its two-hundred day moving average is $73.30. Masco has a 1 year low of $47.66 and a 1 year high of $84.37.

Masco (NYSE:MAS) last announced its earnings results on Thursday, July 25th. The construction company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.02. Masco had a return on equity of 602.39% and a net margin of 11.59%. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter last year, the firm earned $1.19 EPS. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, research analysts expect that Masco will post 4.11 earnings per share for the current fiscal year.

Masco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 2nd were issued a dividend of $0.29 per share. The ex-dividend date was Friday, August 2nd. This represents a $1.16 annualized dividend and a dividend yield of 1.39%. Masco’s dividend payout ratio is presently 28.43%.

Insider Buying and Selling at Masco

In other Masco news, VP Kenneth G. Cole sold 37,814 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $78.32, for a total value of $2,961,592.48. Following the completion of the transaction, the vice president now owns 36,980 shares of the company’s stock, valued at approximately $2,896,273.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MAS. Sanctuary Advisors LLC purchased a new stake in Masco during the 2nd quarter worth approximately $3,377,000. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Masco by 89.5% during 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 buying an additional 273,718 shares during the last quarter. Cetera Investment Advisers increased its position in shares of Masco by 9.3% in the 2nd quarter. Cetera Investment Advisers now owns 31,846 shares of the construction company’s stock valued at $2,123,000 after acquiring an additional 2,698 shares during the period. Truist Financial Corp raised its stake in Masco by 6.5% in the 2nd quarter. Truist Financial Corp now owns 61,263 shares of the construction company’s stock worth $4,084,000 after acquiring an additional 3,724 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its position in Masco by 3.8% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 6,870 shares of the construction company’s stock worth $458,000 after acquiring an additional 251 shares during the period. 93.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Royal Bank of Canada raised their target price on shares of Masco from $78.00 to $79.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Jefferies Financial Group boosted their target price on shares of Masco from $83.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Citigroup decreased their target price on shares of Masco from $73.00 to $66.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Robert W. Baird boosted their price objective on Masco from $84.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Truist Financial raised their price objective on Masco from $81.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $77.58.

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.