Masco Co. (NYSE:MAS) Sees Significant Growth in Short Interest

Masco Co. (NYSE:MAS) was the recipient of a large increase in short interest in March. As of March 15th, there was short interest totalling 5,140,000 shares, an increase of 20.7% from the February 28th total of 4,260,000 shares. Based on an average daily volume of 1,680,000 shares, the short-interest ratio is presently 3.1 days. Approximately 2.4% of the company’s stock are short sold.

Masco Price Performance

Masco stock traded down $7.64 during mid-day trading on Thursday, hitting $63.42. 1,186,414 shares of the company were exchanged, compared to its average volume of 1,650,042. The company has a market capitalization of $13.42 billion, a PE ratio of 16.87, a price-to-earnings-growth ratio of 1.94 and a beta of 1.24. The company has a quick ratio of 1.15, a current ratio of 1.75 and a debt-to-equity ratio of 20.74. The business has a fifty day moving average of $74.73 and a 200 day moving average of $77.73. Masco has a 1-year low of $63.19 and a 1-year high of $86.70.

Masco (NYSE:MAS) last issued its quarterly earnings data on Tuesday, February 11th. The construction company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. Masco had a net margin of 10.50% and a return on equity of 838.32%. During the same quarter in the previous year, the business earned $0.83 EPS. As a group, sell-side analysts expect that Masco will post 4.34 earnings per share for the current year.

Masco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 21st were issued a dividend of $0.31 per share. The ex-dividend date was Friday, February 21st. This represents a $1.24 dividend on an annualized basis and a yield of 1.96%. This is a positive change from Masco’s previous quarterly dividend of $0.29. Masco’s dividend payout ratio is currently 32.98%.

Insider Activity at Masco

In other news, CEO Keith J. Allman sold 21,723 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $76.36, for a total transaction of $1,658,768.28. Following the transaction, the chief executive officer now directly owns 60,267 shares of the company’s stock, valued at approximately $4,601,988.12. The trade was a 26.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Renee Straber sold 3,139 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $71.78, for a total transaction of $225,317.42. Following the sale, the vice president now directly owns 33,027 shares of the company’s stock, valued at approximately $2,370,678.06. The trade was a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Institutional Trading of Masco

Hedge funds have recently modified their holdings of the stock. State Street Corp boosted its position in Masco by 1.9% in the 3rd quarter. State Street Corp now owns 10,294,294 shares of the construction company’s stock valued at $864,103,000 after buying an additional 194,297 shares during the last quarter. Geode Capital Management LLC increased its position in Masco by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 5,129,771 shares of the construction company’s stock worth $371,265,000 after purchasing an additional 58,739 shares during the period. Northern Trust Corp raised its holdings in Masco by 9.5% during the 4th quarter. Northern Trust Corp now owns 3,900,643 shares of the construction company’s stock worth $283,070,000 after purchasing an additional 337,164 shares during the last quarter. Van ECK Associates Corp lifted its position in Masco by 10.2% during the 4th quarter. Van ECK Associates Corp now owns 3,250,400 shares of the construction company’s stock valued at $235,881,000 after purchasing an additional 299,520 shares during the period. Finally, Nordea Investment Management AB boosted its stake in shares of Masco by 21.0% in the 4th quarter. Nordea Investment Management AB now owns 2,997,839 shares of the construction company’s stock valued at $218,063,000 after purchasing an additional 520,555 shares during the last quarter. 93.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MAS. Citigroup lowered their price objective on Masco from $82.00 to $77.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Jefferies Financial Group lowered shares of Masco from a “buy” rating to a “hold” rating and dropped their price target for the stock from $96.00 to $89.00 in a research note on Monday, December 16th. UBS Group reduced their price objective on shares of Masco from $94.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft began coverage on shares of Masco in a research report on Tuesday. They issued a “hold” rating and a $71.00 target price for the company. Finally, Wells Fargo & Company reduced their price target on shares of Masco from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Ten equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $85.30.

Masco Company Profile

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.