Public Employees Retirement System of Ohio purchased a new position in Masco Corporation (NYSE:MAS – Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 140,727 shares of the construction company’s stock, valued at approximately $11,451,000. Public Employees Retirement System of Ohio owned 0.07% of Masco at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the business. Boston Trust Walden Corp lifted its holdings in shares of Masco by 37.7% in the 1st quarter. Boston Trust Walden Corp now owns 713,598 shares of the construction company’s stock valued at $43,080,000 after buying an additional 195,509 shares during the period. Balefire LLC acquired a new stake in Masco during the first quarter worth about $1,021,000. Oppenheimer Asset Management Inc. purchased a new position in Masco during the second quarter valued at approximately $13,269,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Masco in the fourth quarter valued at approximately $1,411,000. Finally, Sanctuary Advisors LLC purchased a new stake in Masco in the 2nd quarter worth approximately $5,016,000. 93.91% of the stock is owned by hedge funds and other institutional investors.
Masco Trading Up 0.0%
Shares of MAS opened at $73.28 on Monday. The firm’s fifty day moving average is $76.70 and its two-hundred day moving average is $71.11. 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 stock has a market cap of $14.45 billion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 1.85 and a beta of 1.30. Masco Corporation has a 52-week low of $58.16 and a 52-week high of $83.64.
Masco announced that its Board of Directors has initiated a share repurchase program on Thursday, May 7th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 2.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
Masco Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Monday, August 24th were given a dividend of $0.32 per share. The ex-dividend date was Monday, August 24th. This represents a $1.28 dividend on an annualized basis and a yield of 1.7%. Masco’s dividend payout ratio (DPR) is presently 29.43%.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on MAS shares. DA Davidson started coverage on shares of Masco in a research note on Monday, August 24th. They issued a “neutral” rating and a $80.00 target price for the company. Wells Fargo & Company increased their target price on shares of Masco from $85.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Weiss Ratings upgraded Masco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. Evercore lowered Masco from an “outperform” rating to an “in-line” rating and set a $78.00 price target for the company. in a research note on Thursday, July 30th. Finally, Zacks Research downgraded Masco from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 14th. Seven research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Masco currently has an average rating of “Hold” and a consensus price target of $79.88.
View Our Latest Report on Masco
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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