Masco Corporation (MAS) Short Interest Update
Masco Corporation (NYSE:MAS) was the recipient of a significant growth in short interest during the month of August. As of August 15th, there was short interest totalling 8,981,698 shares, a growth of 167.0% from the July 31st total of 3,364,273 shares. Approximately 2.8% of the company’s stock are short sold. Based on an average daily trading volume, of 1,787,441 shares, the days-to-cover ratio is currently 5.0 days.
MAS has been the subject of a number of analyst reports. BidaskClub upgraded shares of Masco Corporation from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Royal Bank Of Canada reissued a “buy” rating and set a $43.00 price target on shares of Masco Corporation in a research report on Wednesday, May 31st. MKM Partners reissued a “buy” rating and set a $43.00 price target (up from $40.00) on shares of Masco Corporation in a research report on Friday, May 19th. Instinet reissued a “buy” rating and set a $41.00 price target (up from $39.00) on shares of Masco Corporation in a research report on Friday, May 19th. Finally, Longbow Research reissued a “buy” rating and set a $42.00 price target on shares of Masco Corporation in a research report on Tuesday, July 4th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $40.93.
In other news, insider Richard A. O’reagan sold 19,498 shares of Masco Corporation stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $38.18, for a total transaction of $744,433.64. Following the completion of the transaction, the insider now directly owns 91,154 shares in the company, valued at $3,480,259.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Renee Straber sold 4,452 shares of Masco Corporation stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $38.58, for a total transaction of $171,758.16. Following the transaction, the vice president now owns 65,961 shares of the company’s stock, valued at $2,544,775.38. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Masco Corporation by 1,387.4% in the first quarter. BlackRock Inc. now owns 27,895,055 shares of the construction company’s stock worth $948,149,000 after buying an additional 26,019,679 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Masco Corporation during the first quarter worth $402,000. Stifel Financial Corp raised its stake in shares of Masco Corporation by 8.1% in the first quarter. Stifel Financial Corp now owns 93,575 shares of the construction company’s stock worth $3,188,000 after buying an additional 7,027 shares during the last quarter. Clinton Group Inc. acquired a new stake in shares of Masco Corporation during the first quarter worth $1,503,000. Finally, Morgan Stanley raised its stake in shares of Masco Corporation by 53.3% in the first quarter. Morgan Stanley now owns 1,779,228 shares of the construction company’s stock worth $60,477,000 after buying an additional 618,256 shares during the last quarter. Institutional investors and hedge funds own 88.48% of the company’s stock.
Shares of Masco Corporation (MAS) opened at 36.77 on Friday. Masco Corporation has a one year low of $29.38 and a one year high of $39.37. The stock’s 50 day moving average is $37.55 and its 200-day moving average is $36.27. The stock has a market cap of $11.60 billion, a P/E ratio of 22.74 and a beta of 1.56.
Masco Corporation (NYSE:MAS) last issued its quarterly earnings results on Thursday, July 27th. The construction company reported $0.60 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.60. Masco Corporation had a return on equity of 20,509.09% and a net margin of 7.09%. The business had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the previous year, the firm earned $0.46 earnings per share. The company’s revenue was up 2.8% on a year-over-year basis. On average, equities analysts forecast that Masco Corporation will post $1.97 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Friday, July 14th were paid a dividend of $0.10 per share. The ex-dividend date was Wednesday, July 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.09%. Masco Corporation’s payout ratio is 24.69%.
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About Masco Corporation
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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