JPMorgan Chase & Co. boosted its stake in Masco Corporation (NYSE:MAS – Free Report) by 19.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 6,063,286 shares of the construction company’s stock after acquiring an additional 977,684 shares during the quarter. JPMorgan Chase & Co. owned 2.92% of Masco worth $384,776,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its stake in Masco by 6.5% in the 4th quarter. Nordea Investment Management AB now owns 4,371,864 shares of the construction company’s stock valued at $278,619,000 after acquiring an additional 267,012 shares during the period. Swiss Life Asset Management Ltd lifted its holdings in Masco by 347.5% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 102,810 shares of the construction company’s stock valued at $7,237,000 after purchasing an additional 79,834 shares in the last quarter. Atria Investments Inc lifted its holdings in Masco by 31.8% in the 3rd quarter. Atria Investments Inc now owns 106,086 shares of the construction company’s stock valued at $7,467,000 after purchasing an additional 25,608 shares in the last quarter. Cresset Asset Management LLC lifted its holdings in Masco by 30.4% in the 3rd quarter. Cresset Asset Management LLC now owns 71,294 shares of the construction company’s stock valued at $5,018,000 after purchasing an additional 16,612 shares in the last quarter. Finally, Rafferty Asset Management LLC lifted its holdings in Masco by 97.6% in the 3rd quarter. Rafferty Asset Management LLC now owns 184,516 shares of the construction company’s stock valued at $12,988,000 after purchasing an additional 91,161 shares in the last quarter. Institutional investors and hedge funds own 93.91% of the company’s stock.
Masco Stock Down 1.9%
NYSE MAS opened at $70.94 on Thursday. Masco Corporation has a 52 week low of $58.16 and a 52 week high of $79.19. 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 fifty day simple moving average is $67.65 and its 200-day simple moving average is $67.00. The firm has a market cap of $14.31 billion, a PE ratio of 17.60, a P/E/G ratio of 1.78 and a beta of 1.31.
Masco Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Friday, May 22nd were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, May 22nd. Masco’s dividend payout ratio (DPR) is presently 31.76%.
Masco announced that its Board of Directors has initiated a share repurchase program on Thursday, May 7th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the construction company to purchase up to 2.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on MAS. JPMorgan Chase & Co. raised their price objective on Masco from $74.00 to $78.00 and gave the company a “neutral” rating in a report on Friday, April 24th. The Goldman Sachs Group raised their price objective on Masco from $79.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. UBS Group raised 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. Oppenheimer restated an “outperform” rating and issued a $88.00 price objective on shares of Masco in a report on Wednesday, February 11th. Finally, Wells Fargo & Company raised their price objective on Masco from $70.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Seven research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Masco presently has a consensus rating of “Hold” and a consensus target price of $80.07.
Get Our Latest Stock Report on MAS
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.
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