Redwood Investment Management LLC purchased a new position in shares of Masco Corporation (NYSE:MAS – Free Report) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 14,304 shares of the construction company’s stock, valued at approximately $1,164,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Covestor Ltd boosted its stake in Masco by 20.7% during the 4th quarter. Covestor Ltd now owns 829 shares of the construction company’s stock worth $53,000 after purchasing an additional 142 shares during the last quarter. Ritholtz Wealth Management lifted its stake in shares of Masco by 3.9% in the first quarter. Ritholtz Wealth Management now owns 4,017 shares of the construction company’s stock worth $242,000 after buying an additional 150 shares in the last quarter. Andina Capital Management LLC lifted its stake in shares of Masco by 2.4% in the fourth quarter. Andina Capital Management LLC now owns 6,565 shares of the construction company’s stock worth $417,000 after buying an additional 154 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its position in Masco by 3.5% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 4,945 shares of the construction company’s stock worth $314,000 after acquiring an additional 167 shares during the last quarter. Finally, Fayez Sarofim & Co boosted its position in Masco by 0.7% during the fourth quarter. Fayez Sarofim & Co now owns 26,075 shares of the construction company’s stock worth $1,655,000 after acquiring an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 93.91% of the company’s stock.
Masco Price Performance
NYSE:MAS opened at $73.57 on Thursday. Masco Corporation has a 52 week low of $58.16 and a 52 week high of $83.64. The stock’s fifty day moving average is $76.76 and its two-hundred day moving average is $71.09. The company has a market capitalization of $14.51 billion, a P/E ratio of 16.91, a P/E/G ratio of 1.85 and a beta of 1.30. The company has a quick ratio of 1.22, a current ratio of 1.86 and a debt-to-equity ratio of 109.07.
Masco announced that its board has authorized a stock buyback plan on Thursday, May 7th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 2.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.
Masco Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Monday, August 24th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Monday, August 24th. Masco’s dividend payout ratio is currently 29.43%.
Wall Street Analyst Weigh In
A number of research firms have commented on MAS. Deutsche Bank Aktiengesellschaft set a $74.00 price objective on shares of Masco in a report on Monday, August 3rd. Citigroup cut their price target on Masco from $79.00 to $77.00 and set a “neutral” rating for the company in a report on Friday, July 31st. Barclays reduced their price objective on Masco from $82.00 to $79.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 30th. Truist Financial lowered their price objective on Masco from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Finally, UBS Group dropped their target price on Masco from $97.00 to $94.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $79.88.
View Our Latest 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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