GAMMA Investing LLC lifted its holdings in shares of Masco Corporation (NYSE:MAS – Free Report) by 34.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,418 shares of the construction company’s stock after purchasing an additional 7,283 shares during the quarter. GAMMA Investing LLC’s holdings in Masco were worth $2,312,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the business. Bard Associates Inc. bought a new stake in Masco in the fourth quarter worth $25,000. Sunbelt Securities Inc. acquired a new position in Masco during the third quarter worth $26,000. Bogart Wealth LLC increased its position in Masco by 2,550.0% during the fourth quarter. Bogart Wealth LLC now owns 424 shares of the construction company’s stock worth $27,000 after buying an additional 408 shares during the last quarter. Headlands Technologies LLC raised its holdings in Masco by 114.5% during the second quarter. Headlands Technologies LLC now owns 549 shares of the construction company’s stock valued at $35,000 after buying an additional 293 shares in the last quarter. Finally, CYBER HORNET ETFs LLC acquired a new stake in shares of Masco in the second quarter worth about $37,000. Institutional investors and hedge funds own 93.91% of the company’s stock.
Masco Stock Up 0.3%
Masco stock opened at $77.35 on Thursday. The company has a debt-to-equity ratio of 109.07, a current ratio of 1.86 and a quick ratio of 1.22. Masco Corporation has a fifty-two week low of $58.16 and a fifty-two week high of $83.64. The firm has a fifty day moving average price of $75.83 and a two-hundred day moving average price of $70.49. The firm has a market cap of $15.25 billion, a price-to-earnings ratio of 17.78, a P/E/G ratio of 1.95 and a beta of 1.30.
Masco declared that its Board of Directors has approved 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 repurchase up to 2.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
Masco Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Friday, May 22nd were issued a $0.32 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.28 dividend on an annualized basis and a yield of 1.7%. Masco’s dividend payout ratio (DPR) is 29.43%.
Analyst Ratings Changes
Several research firms have recently issued reports on MAS. Wells Fargo & Company upped their price target on Masco from $85.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. 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 research note on Thursday, April 23rd. Zacks Research upgraded Masco from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Truist Financial decreased their target price on Masco from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Finally, BMO Capital Markets lowered their price target on Masco from $77.00 to $75.00 and set a “market perform” rating on the stock in a report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $79.87.
Get Our Latest Report on Masco
About Masco
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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