The Manufacturers Life Insurance Company increased its stake in shares of Masco Corporation (NYSE:MAS – Free Report) by 19.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 143,922 shares of the construction company’s stock after buying an additional 23,088 shares during the period. The Manufacturers Life Insurance Company’s holdings in Masco were worth $8,689,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MAS. Sunbelt Securities Inc. bought a new position in shares of Masco in the third quarter worth about $26,000. Bard Associates Inc. bought a new stake in shares of Masco during the fourth quarter valued at approximately $25,000. Bogart Wealth LLC increased its holdings in shares of Masco by 2,550.0% in the fourth quarter. Bogart Wealth LLC now owns 424 shares of the construction company’s stock valued at $27,000 after purchasing an additional 408 shares in the last quarter. Headlands Technologies LLC increased its holdings in shares of Masco by 114.5% in the second quarter. Headlands Technologies LLC now owns 549 shares of the construction company’s stock valued at $35,000 after purchasing an additional 293 shares in the last quarter. Finally, CYBER HORNET ETFs LLC bought a new position in Masco in the 2nd quarter worth approximately $37,000. Institutional investors and hedge funds own 93.91% of the company’s stock.
Masco Trading Up 3.1%
Shares of NYSE MAS opened at $77.08 on Wednesday. Masco Corporation has a twelve month low of $58.16 and a twelve month high of $83.64. The stock has a market cap of $15.20 billion, a price-to-earnings ratio of 17.72, a P/E/G ratio of 1.75 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. The company’s fifty day moving average is $75.68 and its 200-day moving average is $70.44.
Masco declared that its board has authorized a stock buyback plan on Thursday, May 7th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 2.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
Masco Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Friday, May 22nd were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, May 22nd. Masco’s dividend payout ratio is 29.43%.
Analyst Upgrades and Downgrades
MAS has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on Masco from $74.00 to $78.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Truist Financial decreased their price target on Masco from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Barclays lowered their price objective on Masco from $82.00 to $79.00 and set an “equal weight” rating for the company in a research report on Thursday, July 30th. Wells Fargo & Company upped their target price on shares of Masco from $85.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Finally, Deutsche Bank Aktiengesellschaft set a $74.00 price target on shares of Masco in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Masco presently has an average rating of “Hold” and a consensus price target of $79.87.
Check Out Our Latest Research Report on MAS
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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