Masco (NYSE:MAS) Reaches New 52-Week Low – Here’s What Happened

Shares of Masco Co. (NYSE:MAS) reached a new 52-week low during trading on Thursday . The company traded as low as $63.12 and last traded at $63.56, with a volume of 1059015 shares traded. The stock had previously closed at $71.06.

Analysts Set New Price Targets

MAS has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Masco in a research note on Tuesday. They set a “hold” rating and a $71.00 price target on the stock. UBS Group reduced their price objective on Masco from $94.00 to $91.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Citigroup dropped their price objective on shares of Masco from $82.00 to $77.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Zelman & Associates upgraded shares of Masco to a “strong-buy” rating in a research report on Friday, January 17th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $74.00 price target on shares of Masco in a research report on Wednesday, February 12th. Ten equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $85.30.

Masco Stock Performance

The company has a current ratio of 1.75, a quick ratio of 1.15 and a debt-to-equity ratio of 20.74. The firm’s fifty day moving average is $74.73 and its 200 day moving average is $77.73. The company has a market cap of $13.53 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 1.94 and a beta of 1.24.

Masco (NYSE:MAS) last released its quarterly earnings results 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 prior year, the firm posted $0.83 earnings per share. As a group, research analysts predict that Masco Co. will post 4.34 EPS for the current fiscal year.

Masco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 21st were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.94%. This is a boost from Masco’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, February 21st. Masco’s payout ratio is presently 32.98%.

Insider Activity at Masco

In related news, CEO Keith J. Allman sold 21,723 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 60,267 shares of the company’s stock, valued at approximately $4,601,988.12. This represents a 26.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Renee Straber sold 3,139 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $71.78, for a total transaction of $225,317.42. Following the completion of the transaction, the vice president now directly owns 33,027 shares in the company, valued at $2,370,678.06. This trade represents 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 corporate insiders.

Institutional Investors Weigh In On Masco

A number of large investors have recently made changes to their positions in the stock. ORG Wealth Partners LLC acquired a new position in Masco during the fourth quarter worth $27,000. Golden State Wealth Management LLC acquired a new position in shares of Masco during the 4th quarter valued at about $27,000. Kestra Investment Management LLC acquired a new position in shares of Masco during the 4th quarter valued at about $30,000. Lee Danner & Bass Inc. purchased a new stake in shares of Masco in the fourth quarter valued at about $42,000. Finally, GeoWealth Management LLC increased its position in Masco by 89.0% during the fourth quarter. GeoWealth Management LLC now owns 684 shares of the construction company’s stock worth $50,000 after purchasing an additional 322 shares during the last quarter. 93.91% of the stock is currently owned by hedge funds and other institutional investors.

About Masco

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.