Masco (MAS) Raised to Outperform at Wells Fargo
Wells Fargo upgraded shares of Masco (NYSE:MAS) from a market perform rating to an outperform rating in a report issued on Monday morning, Marketbeat.com reports. Wells Fargo currently has $45.00 target price on the construction company’s stock.
A number of other analysts have also recently commented on the stock. Deutsche Bank upgraded shares of Masco from a hold rating to a buy rating and set a $43.00 price target for the company in a research note on Thursday, March 22nd. Zacks Investment Research cut shares of Masco from a buy rating to a hold rating in a research note on Tuesday, March 6th. Royal Bank of Canada set a $46.00 target price on shares of Masco and gave the stock a buy rating in a research note on Friday, February 9th. Credit Suisse Group restated a neutral rating and set a $46.00 target price (up previously from $36.00) on shares of Masco in a research note on Monday, January 22nd. They noted that the move was a valuation call. Finally, Barclays set a $47.00 target price on shares of Masco and gave the stock a buy rating in a research note on Wednesday, April 25th. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $44.54.
Shares of MAS stock opened at $37.91 on Monday. The firm has a market capitalization of $11.69 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 0.97 and a beta of 1.52. The company has a quick ratio of 1.10, a current ratio of 1.69 and a debt-to-equity ratio of 16.23. Masco has a one year low of $37.27 and a one year high of $37.79.
The firm also recently declared a quarterly dividend, which was paid on Monday, May 14th. Investors of record on Friday, April 13th were given a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Thursday, April 12th. Masco’s dividend payout ratio is 21.65%.
In related news, Director Lisa A. Payne sold 5,577 shares of the firm’s stock in a transaction dated Thursday, March 22nd. The shares were sold at an average price of $41.85, for a total transaction of $233,397.45. Following the transaction, the director now directly owns 56,766 shares of the company’s stock, valued at $2,375,657.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Joseph B. Gross sold 10,203 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $42.95, for a total transaction of $438,218.85. Following the transaction, the insider now directly owns 51,020 shares in the company, valued at $2,191,309. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 109,727 shares of company stock worth $4,695,460. 1.20% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in MAS. Millennium Management LLC increased its position in Masco by 2,720.8% during the first quarter. Millennium Management LLC now owns 2,357,770 shares of the construction company’s stock worth $95,348,000 after acquiring an additional 2,274,184 shares during the period. APG Asset Management N.V. increased its position in Masco by 32.1% during the fourth quarter. APG Asset Management N.V. now owns 6,489,828 shares of the construction company’s stock worth $237,478,000 after acquiring an additional 1,577,500 shares during the period. Amundi Pioneer Asset Management Inc. increased its holdings in Masco by 12.9% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 9,274,700 shares of the construction company’s stock valued at $407,529,000 after buying an additional 1,056,570 shares during the period. Old Mutual Global Investors UK Ltd. bought a new position in Masco in the 1st quarter valued at about $33,468,000. Finally, Point72 Asset Management L.P. increased its holdings in Masco by 256.8% in the 1st quarter. Point72 Asset Management L.P. now owns 935,151 shares of the construction company’s stock valued at $37,818,000 after buying an additional 673,051 shares during the period. 90.91% of the stock is currently owned by institutional investors and hedge funds.
Masco Corporation designs, manufactures, and distributes home improvement and building products worldwide. Its Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower enclosures, toilets, acrylic tubs, shower trays, spas products, exercise pools, brass and copper plumbing system components, and other non-decorative plumbing products.
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