Masco Co. (NYSE:MAS) Sees Large Decrease in Short Interest

Masco Co. (NYSE:MAS) was the target of a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 3,340,000 shares, a decline of 18.3% from the August 31st total of 4,090,000 shares. Currently, 1.5% of the shares of the company are short sold. Based on an average daily volume of 1,800,000 shares, the short-interest ratio is currently 1.9 days.

Masco Price Performance

Shares of Masco stock traded up $0.42 on Friday, hitting $83.57. The company’s stock had a trading volume of 1,138,224 shares, compared to its average volume of 1,865,469. The company has a quick ratio of 1.12, a current ratio of 1.76 and a debt-to-equity ratio of 16.18. The firm has a fifty day moving average price of $77.73 and a 200-day moving average price of $73.33. Masco has a 52-week low of $47.66 and a 52-week high of $84.37. The company has a market capitalization of $18.41 billion, a P/E ratio of 20.49, a price-to-earnings-growth ratio of 2.59 and a beta of 1.24.

Masco (NYSE:MAS) last issued its quarterly earnings data on Thursday, July 25th. The construction company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.02. Masco had a return on equity of 602.39% and a net margin of 11.59%. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same period in the previous year, the firm posted $1.19 EPS. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. On average, equities research analysts expect that Masco will post 4.11 earnings per share for the current fiscal year.

Masco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 2nd were paid a $0.29 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $1.16 annualized dividend and a yield of 1.39%. Masco’s payout ratio is currently 28.43%.

Analysts Set New Price Targets

Several brokerages recently issued reports on MAS. Robert W. Baird boosted their price target on Masco from $84.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. BMO Capital Markets lifted their price objective on shares of Masco from $75.00 to $78.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. Jefferies Financial Group raised their target price on shares of Masco from $83.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Barclays raised their price objective on shares of Masco from $79.00 to $88.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, Truist Financial boosted their target price on Masco from $81.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Masco has an average rating of “Moderate Buy” and an average target price of $77.58.

Insider Activity

In other news, VP Kenneth G. Cole sold 37,814 shares of Masco stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $78.32, for a total value of $2,961,592.48. Following the transaction, the vice president now directly owns 36,980 shares of the company’s stock, valued at approximately $2,896,273.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Masco

Several institutional investors have recently added to or reduced their stakes in the business. New Covenant Trust Company N.A. purchased a new position in shares of Masco in the 1st quarter worth $25,000. Innealta Capital LLC acquired a new position in shares of Masco in the 2nd quarter valued at about $25,000. Versant Capital Management Inc grew its holdings in shares of Masco by 62.4% during the 1st quarter. Versant Capital Management Inc now owns 354 shares of the construction company’s stock worth $28,000 after purchasing an additional 136 shares during the period. Family Firm Inc. purchased a new position in Masco in the second quarter valued at approximately $30,000. Finally, Massmutual Trust Co. FSB ADV lifted its position in Masco by 46.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the construction company’s stock valued at $38,000 after buying an additional 179 shares in the last quarter. 93.91% of the stock is currently owned by institutional investors and hedge funds.

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.