Masco (NYSE:MAS) Shares Gap Down to $73.01

Masco Co. (NYSE:MAS - Get Free Report)'s share price gapped down before the market opened on Wednesday . The stock had previously closed at $73.01, but opened at $70.05. Masco shares last traded at $70.01, with a volume of 899,138 shares.

Analysts Set New Price Targets

MAS has been the subject of a number of recent research reports. Royal Bank of Canada raised their price target on shares of Masco from $73.00 to $79.00 and gave the stock an "outperform" rating in a research report on Friday, February 9th. Truist Financial increased their price target on Masco from $65.00 to $81.00 and gave the stock a "buy" rating in a research report on Friday, February 9th. Citigroup boosted their price objective on Masco from $74.00 to $79.00 and gave the company a "neutral" rating in a report on Friday, April 5th. Oppenheimer started coverage on Masco in a research report on Friday, January 19th. They set a "market perform" rating for the company. Finally, StockNews.com downgraded Masco from a "buy" rating to a "hold" rating in a report on Wednesday, March 27th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $69.62.

Masco Price Performance

The company has a debt-to-equity ratio of 30.05, a quick ratio of 1.08 and a current ratio of 1.68. The stock's 50-day moving average is $75.31 and its two-hundred day moving average is $66.74. The stock has a market cap of $15.38 billion, a PE ratio of 17.39, a PEG ratio of 2.24 and a beta of 1.25.

Masco (NYSE:MAS - Get Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The construction company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.06. Masco had a net margin of 11.40% and a return on equity of 3,111.50%. The business had revenue of $1.93 billion for the quarter, compared to analysts' expectations of $1.94 billion. During the same quarter in the prior year, the company earned $0.87 earnings per share. The business's quarterly revenue was down 2.7% on a year-over-year basis. On average, equities analysts predict that Masco Co. will post 4.11 earnings per share for the current year.

Masco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Thursday, February 22nd were issued a dividend of $0.29 per share. This is an increase from Masco's previous quarterly dividend of $0.29. The ex-dividend date was Wednesday, February 21st. This represents a $1.16 annualized dividend and a yield of 1.66%. Masco's dividend payout ratio is 28.93%.

Insider Buying and Selling

In other news, VP Richard Allan Marshall sold 5,000 shares of Masco stock in a transaction on Friday, March 1st. The shares were sold at an average price of $77.05, for a total transaction of $385,250.00. Following the completion of the sale, the vice president now directly owns 10,465 shares of the company's stock, valued at approximately $806,328.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Jai Shah sold 42,552 shares of Masco stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $76.36, for a total transaction of $3,249,270.72. Following the sale, the insider now directly owns 15,830 shares in the company, valued at approximately $1,208,778.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Richard Allan Marshall sold 5,000 shares of the company's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $77.05, for a total transaction of $385,250.00. Following the completion of the transaction, the vice president now owns 10,465 shares of the company's stock, valued at approximately $806,328.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 83,762 shares of company stock worth $6,337,597. Company insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. HB Wealth Management LLC acquired a new position in Masco in the third quarter valued at $205,000. Exchange Traded Concepts LLC acquired a new stake in Masco during the 3rd quarter worth approximately $66,000. SS&H Financial Advisors Inc. purchased a new position in shares of Masco in the 3rd quarter valued at approximately $408,000. Czech National Bank increased its holdings in shares of Masco by 47.5% in the third quarter. Czech National Bank now owns 39,313 shares of the construction company's stock valued at $2,101,000 after purchasing an additional 12,667 shares during the period. Finally, Asset Management One Co. Ltd. raised its stake in shares of Masco by 5.6% during the third quarter. Asset Management One Co. Ltd. now owns 89,402 shares of the construction company's stock worth $4,779,000 after purchasing an additional 4,702 shares during the last quarter. Hedge funds and other institutional investors own 93.91% of the company's stock.

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.