Masco (NYSE:MAS) Given New $48.00 Price Target at SunTrust Banks

Masco (NYSE:MAS) had its price objective lowered by SunTrust Banks from $50.00 to $48.00 in a report released on Thursday morning, The Fly reports. SunTrust Banks currently has a buy rating on the construction company’s stock.

MAS has been the topic of a number of other research reports. Argus increased their price objective on Masco from $44.00 to $48.00 and gave the company a buy rating in a research note on Monday, September 9th. Royal Bank of Canada set a $45.00 price objective on Masco and gave the company a buy rating in a research note on Friday, July 26th. Robert W. Baird decreased their price target on Masco from $48.00 to $46.00 and set an outperform rating on the stock in a research note on Wednesday. Bank of America decreased their price target on Masco from $56.00 to $54.00 and set a buy rating on the stock in a research note on Wednesday. Finally, Raymond James set a $50.00 price target on Masco and gave the stock a buy rating in a research note on Friday, July 26th. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $45.50.

Shares of MAS traded up $0.08 during trading hours on Thursday, reaching $41.13. 8,162 shares of the company traded hands, compared to its average volume of 2,807,777. The company has a quick ratio of 0.96, a current ratio of 1.46 and a debt-to-equity ratio of 39.03. The stock has a market capitalization of $11.95 billion, a PE ratio of 16.44, a price-to-earnings-growth ratio of 1.73 and a beta of 1.41. Masco has a fifty-two week low of $27.03 and a fifty-two week high of $43.59. The stock has a fifty day simple moving average of $40.25 and a 200 day simple moving average of $39.18.

Masco (NYSE:MAS) last posted its quarterly earnings data on Thursday, July 25th. The construction company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.07. The business had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.34 billion. Masco had a return on equity of 792.80% and a net margin of 8.77%. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.75 earnings per share. Research analysts predict that Masco will post 2.66 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Friday, October 11th will be issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.31%. This is an increase from Masco’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Thursday, October 10th. Masco’s dividend payout ratio (DPR) is 19.20%.

Masco declared that its board has approved a share repurchase program on Tuesday, September 17th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 16.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

In other news, CFO John G. Sznewajs sold 85,473 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $40.88, for a total value of $3,494,136.24. Following the transaction, the chief financial officer now directly owns 318,403 shares in the company, valued at approximately $13,016,314.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.17% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Rational Advisors LLC raised its holdings in shares of Masco by 111.6% in the 2nd quarter. Rational Advisors LLC now owns 658 shares of the construction company’s stock worth $26,000 after purchasing an additional 347 shares during the period. Johnson Financial Group Inc. raised its holdings in shares of Masco by 94.5% during the 2nd quarter. Johnson Financial Group Inc. now owns 706 shares of the construction company’s stock valued at $27,000 after buying an additional 343 shares during the period. Penserra Capital Management LLC purchased a new stake in shares of Masco during the 1st quarter valued at about $29,000. TRUE Private Wealth Advisors purchased a new stake in shares of Masco during the 2nd quarter valued at about $30,000. Finally, Redhawk Wealth Advisors Inc. purchased a new stake in shares of Masco during the 2nd quarter valued at about $30,000. Institutional investors own 90.15% of the company’s stock.

Masco Company Profile

Masco Corporation designs, manufactures, and distributes home improvement and building products worldwide. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, toilets, acrylic tubs, shower trays, spas, exercise pools, fitness systems, and other non-decorative plumbing products; brass, copper, and composite plumbing system components; and thermoplastic extrusions, extruded plastic profiles, and specialized fabrications.

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