Masco (NYSE:MAS) Sets New 12-Month High - Here's Why

Key Points

• Masco shares reached a new 52-week high of $83.50, up from the previous close of $81.16. The stock trades above both its 50-day and 200-day moving averages.
• Analyst sentiment is mixed: UBS and Truist raised their price targets and maintained “buy” ratings, while the overall consensus remains “Hold” with an average target of $80.67.
• Masco offers a quarterly dividend of $0.32 per share, equal to a 1.5% yield, and authorized a $300 million share-repurchase program. Institutional investors own approximately 93.9% of the company.

Masco Corporation (NYSE:MAS - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $83.50 and last traded at $83.4020, with a volume of 206269 shares changing hands. The stock had previously closed at $81.16.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MAS shares. UBS Group lifted their price target on shares of Masco from $96.00 to $97.00 and gave the company a "buy" rating in a research report on Thursday, April 23rd. Truist Financial upped their price objective on shares of Masco from $85.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, April 22nd. Barclays lifted their target price on shares of Masco from $78.00 to $82.00 and gave the company an "equal weight" rating in a report on Tuesday, July 14th. Robert W. Baird boosted their target price on Masco from $72.00 to $80.00 and gave the company a "neutral" rating in a research report on Thursday, April 23rd. Finally, BMO Capital Markets decreased their price target on Masco from $77.00 to $75.00 and set a "market perform" rating on the stock in a research note on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Masco has an average rating of "Hold" and an average price target of $80.67.

Masco Price Performance

The company's 50-day moving average price is $74.72 and its 200-day moving average price is $70.16. The company has a quick ratio of 1.11, a current ratio of 1.75 and a debt-to-equity ratio of 109.07. The firm has a market cap of $16.69 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 1.95 and a beta of 1.29.

Masco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Friday, May 22nd were issued a dividend of $0.32 per share. The ex-dividend date was Friday, May 22nd. This represents a $1.28 dividend on an annualized basis and a yield of 1.5%. Masco's dividend payout ratio is 31.76%.

Masco declared that its Board of Directors has approved a stock buyback plan on Thursday, May 7th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the construction company to reacquire up to 2.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Institutional Trading of Masco

A number of large investors have recently modified their holdings of the stock. State Street Corp grew its stake in Masco by 0.6% during the 4th quarter. State Street Corp now owns 10,235,505 shares of the construction company's stock worth $649,545,000 after purchasing an additional 60,430 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Masco by 19.2% during the fourth quarter. JPMorgan Chase & Co. now owns 6,063,286 shares of the construction company's stock worth $384,776,000 after buying an additional 977,684 shares during the period. Boston Partners raised its holdings in Masco by 1.0% in the third quarter. Boston Partners now owns 5,850,170 shares of the construction company's stock valued at $411,832,000 after acquiring an additional 58,609 shares in the last quarter. Wellington Management Group LLP lifted its stake in Masco by 76.1% in the fourth quarter. Wellington Management Group LLP now owns 4,826,584 shares of the construction company's stock worth $306,295,000 after acquiring an additional 2,085,454 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Masco by 18.0% during the 4th quarter. Invesco Ltd. now owns 3,405,974 shares of the construction company's stock worth $216,143,000 after acquiring an additional 518,679 shares in the last quarter. Hedge funds and other institutional investors own 93.91% of the company's stock.

Masco Company Profile

Masco Corporation is a global leader in the design, manufacture and distribution of branded home improvement and building products. Founded in 1929 and headquartered in Livonia, Michigan, the company has evolved from a small door‐bell manufacturer into a diversified enterprise serving both residential and commercial markets. Over its history, Masco has grown through a combination of organic innovation and strategic acquisitions, building a portfolio of well-recognized brands.

The company's product offerings are organized into two primary segments.

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