Masco Corp (NYSE:MAS) Sees Significant Decrease in Short Interest
Masco Corp (NYSE:MAS) saw a significant drop in short interest in the month of July. As of July 15th, there was short interest totalling 5,345,800 shares, a drop of 7.1% from the June 15th total of 5,753,300 shares. Based on an average daily trading volume, of 3,410,000 shares, the days-to-cover ratio is presently 1.6 days. Approximately 1.8% of the company’s shares are sold short.
NYSE:MAS traded up $0.78 during mid-day trading on Tuesday, hitting $41.56. The stock had a trading volume of 2,313,911 shares, compared to its average volume of 3,617,986. The firm’s 50-day simple moving average is $38.94. The company has a market capitalization of $12.18 billion, a P/E ratio of 16.62, a PEG ratio of 1.66 and a beta of 1.46. Masco has a twelve month low of $27.03 and a twelve month high of $42.58. The company has a quick ratio of 0.96, a current ratio of 1.46 and a debt-to-equity ratio of 39.03.
Masco (NYSE:MAS) last released its quarterly earnings data on Thursday, July 25th. The construction company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.07. Masco had a net margin of 8.77% and a return on equity of 792.80%. The company had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter last year, the company earned $0.75 earnings per share. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, equities analysts anticipate that Masco will post 2.66 EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in MAS. Penserra Capital Management LLC acquired a new stake in Masco during the first quarter worth approximately $29,000. Ellis Investment Partners LLC purchased a new position in shares of Masco during the first quarter worth approximately $38,000. Zions Bancorporation N.A. purchased a new position in shares of Masco during the first quarter worth approximately $44,000. SevenBridge Financial Group LLC grew its position in shares of Masco by 271.3% during the second quarter. SevenBridge Financial Group LLC now owns 1,218 shares of the construction company’s stock worth $48,000 after acquiring an additional 890 shares during the last quarter. Finally, NuWave Investment Management LLC grew its position in shares of Masco by 305.1% during the second quarter. NuWave Investment Management LLC now owns 1,260 shares of the construction company’s stock worth $50,000 after acquiring an additional 949 shares during the last quarter. 90.02% of the stock is currently owned by institutional investors.
Several analysts have recently issued reports on the stock. Royal Bank of Canada set a $179.00 price target on shares of 3M and gave the stock a “hold” rating in a research report on Friday. Raymond James set a $240.00 price target on shares of Stryker and gave the stock a “buy” rating in a research report on Friday. Zacks Investment Research cut shares of Goosehead Insurance from a “buy” rating to a “hold” rating in a research report on Monday. Barclays set a $82.00 price target on shares of Baxter International and gave the stock a “hold” rating in a research report on Friday. Finally, Bank of America raised shares of Esperion Therapeutics from an “underperform” rating to a “neutral” rating in a research report on Monday, May 6th. Five analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Masco currently has a consensus rating of “Buy” and an average price target of $45.41.
Masco Corporation designs, manufactures, and distributes home improvement and building products worldwide. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, toilets, acrylic tubs, shower trays, spas, exercise pools, fitness systems, and other non-decorative plumbing products; brass, copper, and composite plumbing system components; and thermoplastic extrusions, extruded plastic profiles, and specialized fabrications.
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