Masco (NYSE:MAS) Sets New 1-Year High – Still a Buy?

Masco Corporation (NYSE:MAS)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $83.50 and last traded at $83.4020, with a volume of 206269 shares traded. The stock had previously closed at $81.16.

Analysts Set New Price Targets

Several equities analysts recently commented on MAS shares. Weiss Ratings raised Masco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Evercore raised Masco from an “in-line” rating to an “outperform” rating and set a $78.00 price target for the company in a report on Monday, April 13th. Royal Bank Of Canada upped their price objective on Masco from $67.00 to $72.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 23rd. UBS Group increased their price objective on Masco from $96.00 to $97.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Finally, Zacks Research raised Masco from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $80.67.

Masco Trading Up 1.9%

The stock has a market capitalization of $16.69 billion, a PE ratio of 20.60, a PEG ratio of 1.95 and a beta of 1.29. 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 business’s 50-day moving average is $74.72 and its two-hundred day moving average is $70.16.

Masco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Friday, May 22nd were given 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 dividend yield of 1.5%. Masco’s payout ratio is 31.76%.

Masco announced that its board has authorized a stock buyback plan on Thursday, May 7th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the construction company to repurchase up to 2.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Masco in the fourth quarter valued at approximately $194,818,000. Wellington Management Group LLP acquired a new position in Masco during the third quarter worth $192,948,000. Jacobs Levy Equity Management Inc. boosted its position in Masco by 443.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,330,523 shares of the construction company’s stock worth $164,046,000 after purchasing an additional 1,901,815 shares in the last quarter. Barclays PLC boosted its position in Masco by 234.5% during the fourth quarter. Barclays PLC now owns 1,624,841 shares of the construction company’s stock worth $103,112,000 after purchasing an additional 1,139,098 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Masco by 19.2% in the fourth quarter. JPMorgan Chase & Co. now owns 6,063,286 shares of the construction company’s stock valued at $384,776,000 after purchasing an additional 977,684 shares during 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.