Masco Corporation, a major player in the home improvement and building products sector, has recently attracted increased attention from institutional investors.
Vanguard Group Inc. has notably increased its stake, now holding over 26 million shares valued at approximately $2.07 billion after acquiring an additional 721,117 shares in the last quarter. Other institutional investors, such as Massachusetts Financial Services Co. and Van ECK Associates Corp, have also raised their stakes, reflecting a broader trend of institutional interest in the construction sector.
Analysts have been optimistic about Masco's stock, with several firms recently raising their price targets. Evercore ISI raised its price objective from $78 to $82, Truist Financial set a new target of $84, and Wells Fargo raised theirs to $92.
Despite a slight decline in recent trading, Masco's market capitalization stands at $17.75 billion, supported by strong financial metrics. The company's recent quarterly earnings report showed steady performance, with earnings of $1.08 per share and revenue of $1.98 billion. Masco's financial health is further illustrated by its robust liquidity ratios, including a current ratio of 1.76 and a quick ratio of 1.12.
Recent insider transactions, such as VP Kenneth G. Cole selling 37,814 shares, have raised questions about insider sentiment. However, insiders still hold a modest 1.10% of the company's stock.
Overall, Masco Corporation is positioned for growth and stability in the construction and home improvement sector.