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

Masco Co. (NYSE:MAS) saw a large drop in short interest in February. As of February 28th, there was short interest totalling 4,260,000 shares, a drop of 15.5% from the February 13th total of 5,040,000 shares. Based on an average trading volume of 1,480,000 shares, the short-interest ratio is presently 2.9 days. Currently, 2.0% of the company’s stock are sold short.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MAS shares. Citigroup dropped their target price 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. Barclays raised their price objective on Masco from $84.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Wells Fargo & Company decreased their target price on Masco from $85.00 to $82.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Jefferies Financial Group downgraded Masco from a “buy” rating to a “hold” rating and cut their price target for the company from $96.00 to $89.00 in a report on Monday, December 16th. Finally, The Goldman Sachs Group upped their price objective on shares of Masco from $85.00 to $96.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $86.32.

Masco Price Performance

Shares of MAS stock traded up $0.96 during trading on Wednesday, hitting $71.64. The company had a trading volume of 2,160,312 shares, compared to its average volume of 1,607,808. The firm has a market capitalization of $15.19 billion, a P/E ratio of 19.05, a price-to-earnings-growth ratio of 1.94 and a beta of 1.24. Masco has a one year low of $63.81 and a one year high of $86.70. The company has a debt-to-equity ratio of 20.74, a quick ratio of 1.15 and a current ratio of 1.75. The stock’s 50-day moving average price is $75.98 and its 200 day moving average price is $78.35.

Masco (NYSE:MAS) last released its earnings results on Tuesday, February 11th. The construction company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Masco had a return on equity of 838.32% and a net margin of 10.50%. During the same quarter in the prior year, the business posted $0.83 earnings per share. Equities analysts expect that Masco will post 4.34 EPS for the current fiscal year.

Masco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 21st were issued a $0.31 dividend. This is a positive change from Masco’s previous quarterly dividend of $0.29. This represents a $1.24 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend was Friday, February 21st. Masco’s dividend payout ratio (DPR) is currently 32.98%.

Insider Activity

In related news, 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 value of $225,317.42. Following the completion of the transaction, the vice president now directly owns 33,027 shares of the company’s stock, valued at approximately $2,370,678.06. This trade represents a 8.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Keith J. Allman sold 21,723 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was 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 owns 60,267 shares in the company, valued at approximately $4,601,988.12. The trade was a 26.49 % 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 Trading of Masco

Institutional investors and hedge funds have recently made changes to their positions in the company. ORG Wealth Partners LLC acquired a new position in Masco during the fourth quarter valued at approximately $27,000. Golden State Wealth Management LLC bought a new position in shares of Masco in the 4th quarter valued at $27,000. Kestra Investment Management LLC acquired a new position in shares of Masco during the 4th quarter worth $30,000. Lee Danner & Bass Inc. bought a new stake in shares of Masco during the 4th quarter worth $42,000. Finally, GeoWealth Management LLC boosted its stake in Masco by 89.0% in the fourth quarter. GeoWealth Management LLC now owns 684 shares of the construction company’s stock valued at $50,000 after buying an additional 322 shares in the last quarter. 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.