Oxbow Advisors LLC grew its holdings in shares of Masco Corporation (NYSE:MAS – Free Report) by 65.4% in the first quarter, HoldingsChannel.com reports. The fund owned 85,269 shares of the construction company’s stock after purchasing an additional 33,720 shares during the period. Oxbow Advisors LLC’s holdings in Masco were worth $5,148,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. HB Wealth Management LLC increased its position in shares of Masco by 7.1% in the first quarter. HB Wealth Management LLC now owns 8,160 shares of the construction company’s stock worth $493,000 after purchasing an additional 541 shares during the last quarter. World Investment Advisors raised its stake in Masco by 5.3% in the first quarter. World Investment Advisors now owns 60,590 shares of the construction company’s stock valued at $3,658,000 after purchasing an additional 3,062 shares in the last quarter. Boyd Watterson Asset Management LLC OH lifted its position in Masco by 24.3% during the first quarter. Boyd Watterson Asset Management LLC OH now owns 15,043 shares of the construction company’s stock valued at $908,000 after purchasing an additional 2,942 shares during the last quarter. New York State Teachers Retirement System lifted its position in Masco by 11.3% during the first quarter. New York State Teachers Retirement System now owns 192,791 shares of the construction company’s stock valued at $11,639,000 after purchasing an additional 19,598 shares during the last quarter. Finally, Private Advisor Group LLC grew its stake in Masco by 2.6% in the 1st quarter. Private Advisor Group LLC now owns 10,929 shares of the construction company’s stock worth $660,000 after buying an additional 278 shares in the last quarter. Hedge funds and other institutional investors own 93.91% of the company’s stock.
Masco Stock Up 0.0%
Shares of MAS opened at $82.80 on Friday. Masco Corporation has a 1 year low of $58.16 and a 1 year high of $83.21. The company has a debt-to-equity ratio of 109.07, a current ratio of 1.75 and a quick ratio of 1.11. The stock has a 50 day simple moving average of $72.37 and a two-hundred day simple moving average of $68.58. The firm has a market cap of $16.70 billion, a P/E ratio of 20.55, a P/E/G ratio of 2.04 and a beta of 1.29.
Masco announced that its board has authorized a stock repurchase program on Thursday, May 7th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the construction company to repurchase up to 2.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
Masco Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Friday, May 22nd were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.28 annualized dividend and a dividend yield of 1.5%. Masco’s dividend payout ratio (DPR) is currently 31.76%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on MAS. Royal Bank Of Canada increased their price target on shares of Masco from $67.00 to $72.00 and gave the stock a “sector perform” rating in a report on Thursday, April 23rd. Barclays lifted their price objective on shares of Masco from $65.00 to $78.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 22nd. Evercore upgraded shares of Masco from an “in-line” rating to an “outperform” rating and set a $78.00 target price for the company in a research report on Monday, April 13th. JPMorgan Chase & Co. increased their target price on Masco from $74.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Finally, Weiss Ratings upgraded Masco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. Eight analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Masco currently has an average rating of “Hold” and a consensus price target of $80.07.
Read Our Latest Research Report on Masco
Masco 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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