Masco Co. (NYSE:MAS) Short Interest Down 18.3% in September

Masco Co. (NYSE:MAS) was the target of a significant decline in short interest in 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. Based on an average trading volume of 1,800,000 shares, the short-interest ratio is presently 1.9 days. Approximately 1.5% of the company’s shares are sold short.

Insider Activity at Masco

In related news, VP Kenneth G. Cole sold 37,814 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $78.32, for a total transaction of $2,961,592.48. Following the transaction, the vice president now owns 36,980 shares in the company, valued at $2,896,273.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Masco

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC bought a new position in shares of Masco during the 2nd quarter valued at approximately $82,363,000. Confluence Investment Management LLC bought a new stake in Masco during the first quarter worth approximately $78,181,000. Acadian Asset Management LLC raised its position in Masco by 66.5% during the second quarter. Acadian Asset Management LLC now owns 1,823,934 shares of the construction company’s stock valued at $121,581,000 after purchasing an additional 728,690 shares during the period. Vanguard Group Inc. lifted its stake in shares of Masco by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 26,300,591 shares of the construction company’s stock valued at $2,074,591,000 after purchasing an additional 721,117 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in shares of Masco by 55.8% in the 1st quarter. Lazard Asset Management LLC now owns 1,538,952 shares of the construction company’s stock worth $121,391,000 after purchasing an additional 551,203 shares during the period. 93.91% of the stock is owned by institutional investors.

Masco Price Performance

Shares of NYSE:MAS traded up $0.42 during trading on Friday, hitting $83.57. 1,138,224 shares of the company’s stock were exchanged, compared to its average volume of 1,865,469. The business’s 50-day simple moving average is $77.73 and its 200 day simple moving average is $73.31. The company has a market cap of $18.41 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 2.59 and a beta of 1.24. Masco has a 52-week low of $47.66 and a 52-week high of $84.37. The company has a debt-to-equity ratio of 16.18, a current ratio of 1.76 and a quick ratio of 1.12.

Masco (NYSE:MAS) last announced its quarterly earnings data on Thursday, July 25th. The construction company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.02. Masco had a net margin of 11.59% and a return on equity of 602.39%. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same period last year, the firm posted $1.19 EPS. The company’s revenue was down 1.7% on a year-over-year basis. As a group, equities analysts predict that Masco will post 4.11 EPS for the current year.

Masco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 2nd were given a dividend of $0.29 per share. The ex-dividend date was Friday, August 2nd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.39%. Masco’s payout ratio is 28.43%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MAS. Royal Bank of Canada raised their price target on Masco from $78.00 to $79.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Jefferies Financial Group upped their price target on shares of Masco from $83.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Barclays raised their price objective on shares of Masco from $79.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Truist Financial upped their target price on shares of Masco from $81.00 to $84.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Citigroup dropped their price target on shares of Masco from $73.00 to $66.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Masco has a consensus rating of “Moderate Buy” and an average target price of $77.58.

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.