Masco (MAS) Downgraded to “Neutral” at Longbow Research

Longbow Research cut shares of Masco (NYSE:MAS) from a buy rating to a neutral rating in a research report released on Friday morning, Marketbeat reports.

A number of other brokerages have also issued reports on MAS. Wells Fargo & Co restated a buy rating on shares of Masco in a research note on Tuesday, July 31st. Bank of America raised their target price on Masco from $44.00 to $45.00 and gave the stock a hold rating in a research note on Wednesday, August 1st. B. Riley raised their target price on Masco from $46.00 to $47.00 and gave the stock a buy rating in a research note on Wednesday, August 1st. Cfra restated a buy rating and issued a $46.00 target price on shares of Masco in a research note on Sunday, August 5th. Finally, ValuEngine upgraded Masco from a sell rating to a hold rating in a research note on Saturday, July 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the company. Masco presently has an average rating of Buy and a consensus target price of $45.67.

Shares of Masco stock traded down $0.31 during trading on Friday, reaching $32.29. The company’s stock had a trading volume of 6,370,098 shares, compared to its average volume of 3,412,676. The company has a debt-to-equity ratio of 23.57, a current ratio of 1.67 and a quick ratio of 1.10. The stock has a market capitalization of $11.25 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 0.99 and a beta of 1.39. Masco has a 1-year low of $31.88 and a 1-year high of $46.44.

Masco (NYSE:MAS) last posted its quarterly earnings data on Tuesday, July 31st. The construction company reported $0.75 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.02). The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.29 billion. Masco had a return on equity of 490.27% and a net margin of 7.41%. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 EPS. On average, equities research analysts anticipate that Masco will post 2.51 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 13th. Shareholders of record on Friday, October 12th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, October 11th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.49%. This is a positive change from Masco’s previous quarterly dividend of $0.11. Masco’s dividend payout ratio (DPR) is presently 21.65%.

In other Masco news, CFO John G. Sznewajs sold 96,869 shares of Masco stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $38.95, for a total transaction of $3,773,047.55. Following the completion of the transaction, the chief financial officer now owns 237,578 shares in the company, valued at approximately $9,253,663.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph B. Gross sold 1,286 shares of Masco stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $39.91, for a total value of $51,324.26. Following the transaction, the insider now owns 48,740 shares of the company’s stock, valued at approximately $1,945,213.40. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Iridian Asset Management LLC CT grew its position in shares of Masco by 4,126.8% during the 2nd quarter. Iridian Asset Management LLC CT now owns 3,100,364 shares of the construction company’s stock valued at $116,016,000 after acquiring an additional 3,027,014 shares during the period. Millennium Management LLC grew its position in shares of Masco by 2,720.8% during the 1st quarter. Millennium Management LLC now owns 2,357,770 shares of the construction company’s stock valued at $95,348,000 after acquiring an additional 2,274,184 shares during the period. Point72 Asset Management L.P. grew its position in shares of Masco by 147.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,312,287 shares of the construction company’s stock valued at $86,526,000 after acquiring an additional 1,377,136 shares during the period. Advisors Asset Management Inc. grew its position in shares of Masco by 1,747.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,361,542 shares of the construction company’s stock valued at $2,598,000 after acquiring an additional 1,287,847 shares during the period. Finally, Janus Henderson Group PLC grew its position in shares of Masco by 189.4% during the 2nd quarter. Janus Henderson Group PLC now owns 1,823,176 shares of the construction company’s stock valued at $68,217,000 after acquiring an additional 1,193,132 shares during the period. Institutional investors and hedge funds own 89.53% of the company’s stock.

Masco Company Profile

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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