The Vanguard Group, Inc. recently announced the acquisition of new stake in Masco Corporation (NYSE:MAS). The institutional investor has increased its shareholding in the Industrials company by 1.00% to 23.85 million shares with purchase of 0.24 million shares. This fresh investment now brings its stake to 10.59% valued currently at $1.25 billion. In addition, Massachusetts Financial Services raised its holdings by 76667.0 to 21.42 million shares. And Boston Partners Global Investors, has lifted its position by 21.62% or 1.79 million shares – to 10.05 million shares.
With over 2.67 million Masco Corporation (MAS) shares trading Friday and a closing price of $50.10 on the day, the dollar volume was approximately $133.88 million. The shares have shown a negative half year performance of -2.11% and its price on 03/10/23 lost nearly -1.86%. Currently, there are 228.00M common shares owned by the public and among those 224.74M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 21 analysts who have offered their price forecasts for MAS have a consensus price objective of $57.31. The analysts have set the share’s price value over the next 12 months at a high of $70.00 and a low of $45.00. The average price target is 12.92% above its recent price level and a downside to the estimated low will see the stock lose -11.33% over that period. But an upside of 28.43% will see the stock hit the forecast high price target while median target price for the stock is $56.50.
Insiders at the company have transacted a total of 40 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 13 of these insider trades were purchases, accounting for 226,199 shares. Insider sales of the common stock occurred on 27 occasions, with total insider shares sold totaling 300,689 shares.
The top 3 mutual fund holders in Masco Corporation are MFS Value Fund, Vanguard Total Stock Market Index, and Vanguard Mid Cap Index Fund. MFS Value Fund owns 7.16 million shares of the company’s stock, all valued at over $375.42 million. The company sold -0.66 million shares recently to bring their total holdings to about 3.18% of the shares outstanding. Vanguard Total Stock Market Index bought 73118.0 shares to see its total holdings expand to 6.92 million shares valued at over $363.07 million and representing 3.08% of the shares outstanding. Vanguard Mid Cap Index Fund bought 8443.0 shares to bring its total holdings to over 5.25 million shares at a value of $275.4 million. Vanguard Mid Cap Index Fund now owns shares totaling to 2.33% of the shares outstanding.
Shares of Masco Corporation (NYSE: MAS) opened at $51.22, up $0.17 from a prior closing price of $51.05. However, the script later moved the day high at 51.31, down -1.86%. The company’s stock has a 5-day price change of -5.29% and 2.41% over the past three months. MAS shares are trading 7.35% year to date (YTD), with the 12-month market performance down to -7.41% lower. It has a 12-month low price of $42.33 and touched a high of $58.18 over the same period. MAS has an average intraday trading volume of 1.80 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -6.06%, -3.37%, and -1.86% respectively.
Institutional ownership of Masco Corporation (NYSE: MAS) shares accounts for 97.60% of the company’s 228.00M shares outstanding. Mutual fund holders own 38.73%, while other institutional holders and individual stakeholders account for 59.24% and 2.10% respectively.
It has a market capitalization of $11.50B and a beta (3y monthly) value of 1.20. The stock’s trailing 12-month PE ratio is 13.83, while the earnings-per-share (ttm) stands at $3.62. The company has a PEG of 5.47 and a Quick Ratio of 0.90. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.55% over the week and 2.78% over the month.
Analysts forecast that Masco Corporation (MAS) will achieve an EPS of $0.78 for the current quarter, $1.05 for the next quarter and $3.94 for 2024. The lowest estimate earnings-per-share for the quarter is $0.65 while analysts give the company a high EPS estimate of $0.93. Comparatively, EPS for the current quarter was $0.95 a year ago. Earnings per share for the fiscal year are expected to increase by 124.40%, and 13.84% over the next financial year. EPS should shrink at an annualized rate of 2.53% over the next five years, compared to 23.30% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 21 brokerage firm advisors rate Masco Corporation (MAS) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 10 of the 21 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the MAS, a number of firms have released research notes about the stock. Deutsche Bank stated their Hold rating for the stock in a research note on February 13, 2023, with the firm’s price target at $43-$56. RBC Capital Mkts coverage for the Masco Corporation (MAS) stock in a research note released on February 10, 2023 offered a Outperform rating with a price target of $57. Deutsche Bank was of a view on January 11, 2023 that the stock is Sell, while RBC Capital Mkts gave the stock Sector Perform rating on October 27, 2022, issuing a price target of $57- $47. BofA Securities on their part issued Underperform rating on October 18, 2022.
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