Truist Financial Forecasts Strong Price Appreciation for Masco (NYSE:MAS) Stock

Masco (NYSE:MAS) had its price target raised by Truist Financial from $84.00 to $92.00 in a research note released on Wednesday, Benzinga reports. They currently have a buy rating on the construction company’s stock.

Several other research firms have also commented on MAS. UBS Group lifted their price target on Masco from $89.00 to $94.00 and gave the stock a “buy” rating in a research report on Wednesday. Royal Bank of Canada cut shares of Masco from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from $79.00 to $80.00 in a report on Wednesday. StockNews.com upgraded shares of Masco from a “hold” rating to a “buy” rating in a research note on Monday, October 21st. Citigroup lowered their price objective 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. Finally, Wells Fargo & Company upped their target price on shares of Masco from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $84.85.

Masco Price Performance

MAS stock opened at $80.18 on Wednesday. The business has a 50 day moving average price of $81.60 and a 200 day moving average price of $74.53. The company has a quick ratio of 1.12, a current ratio of 1.83 and a debt-to-equity ratio of 20.74. The stock has a market cap of $17.30 billion, a price-to-earnings ratio of 21.32, a PEG ratio of 2.58 and a beta of 1.24. Masco has a fifty-two week low of $53.44 and a fifty-two week 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 for the quarter, hitting the consensus estimate of $1.08. Masco had a net margin of 10.54% and a return on equity of 615.54%. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $2 billion. During the same quarter in the previous year, the firm earned $1.00 EPS. The company’s revenue was up .2% compared to the same quarter last year. Equities research analysts anticipate that Masco will post 4.1 earnings per share for the current fiscal year.

Masco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Friday, November 8th. Masco’s dividend payout ratio (DPR) is currently 30.85%.

Insiders Place Their Bets

In related news, VP Kenneth G. Cole sold 37,814 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $78.32, for a total value of $2,961,592.48. Following the completion of the sale, the vice president now owns 36,980 shares in the company, valued at $2,896,273.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. New Covenant Trust Company N.A. purchased a new position in Masco in the 1st quarter valued at approximately $25,000. Innealta Capital LLC acquired a new position in shares of Masco during the 2nd quarter worth $25,000. Family Firm Inc. purchased a new stake in shares of Masco in the 2nd quarter worth about $30,000. Capital Performance Advisors LLP acquired a new stake in Masco in the 3rd quarter valued at about $38,000. Finally, Larson Financial Group LLC increased its holdings in Masco by 4,545.5% during the 1st quarter. Larson Financial Group LLC now owns 511 shares of the construction company’s stock valued at $40,000 after acquiring an additional 500 shares in the last quarter. 93.91% of the stock is 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.