Envestnet Asset Management Inc. Has $26.16 Million Stake in Masco Co. (NYSE:MAS)

Envestnet Asset Management Inc. raised its stake in Masco Co. (NYSE:MAS – Get Rating) by 2.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 512,871 shares of the construction company’s stock after buying an additional 12,508 shares during the quarter. Envestnet Asset Management Inc. owned 0.22% of Masco worth $26,156,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. abrdn plc lifted its stake in Masco by 4.5% in the first quarter. abrdn plc now owns 113,490 shares of the construction company’s stock valued at $5,974,000 after buying an additional 4,902 shares during the period. Arizona State Retirement System lifted its stake in Masco by 1.0% in the first quarter. Arizona State Retirement System now owns 67,944 shares of the construction company’s stock valued at $3,465,000 after buying an additional 650 shares during the period. Mount Yale Investment Advisors LLC increased its holdings in shares of Masco by 4.5% in the first quarter. Mount Yale Investment Advisors LLC now owns 16,280 shares of the construction company’s stock worth $830,000 after acquiring an additional 706 shares in the last quarter. Oak Family Advisors LLC increased its holdings in shares of Masco by 20.0% in the first quarter. Oak Family Advisors LLC now owns 12,342 shares of the construction company’s stock worth $629,000 after acquiring an additional 2,054 shares in the last quarter. Finally, FDx Advisors Inc. increased its holdings in shares of Masco by 19.9% in the first quarter. FDx Advisors Inc. now owns 7,463 shares of the construction company’s stock worth $381,000 after acquiring an additional 1,240 shares in the last quarter. Institutional investors and hedge funds own 93.76% of the company’s stock.

Insider Buying and Selling at Masco

In other news, CEO Keith J. Allman sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $52.02, for a total value of $520,200.00. Following the completion of the sale, the chief executive officer now directly owns 288,295 shares of the company’s stock, valued at $14,997,105.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Keith J. Allman sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $52.02, for a total value of $520,200.00. Following the completion of the sale, the chief executive officer now directly owns 288,295 shares of the company’s stock, valued at $14,997,105.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles K. Stevens III sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $56.38, for a total value of $394,660.00. Following the completion of the sale, the director now directly owns 10,160 shares of the company’s stock, valued at $572,820.80. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on MAS shares. The Goldman Sachs Group lowered their price target on Masco from $75.00 to $64.00 and set a “buy” rating for the company in a report on Tuesday, April 12th. Credit Suisse Group started coverage on Masco in a report on Tuesday, April 5th. They issued an “underperform” rating and a $50.00 price target for the company. JPMorgan Chase & Co. lowered their price target on Masco from $58.00 to $54.00 in a report on Friday, July 15th. Bank of America downgraded Masco from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $75.00 to $55.00 in a report on Monday, April 11th. Finally, BMO Capital Markets decreased their price objective on Masco from $68.00 to $60.00 in a report on Monday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $64.15.

Masco Stock Down 0.6 %

MAS stock opened at $55.03 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 1.36 and a debt-to-equity ratio of 52.66. The business has a 50 day moving average price of $53.42 and a two-hundred day moving average price of $55.04. The company has a market cap of $12.98 billion, a price-to-earnings ratio of 15.29, a P/E/G ratio of 1.16 and a beta of 1.22. Masco Co. has a twelve month low of $46.27 and a twelve month high of $71.06.

Masco (NYSE:MAS – Get Rating) last posted its quarterly earnings results on Thursday, July 28th. The construction company reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.05). The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.36 billion. Masco had a net margin of 9.83% and a negative return on equity of 686.15%. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.14 earnings per share. Analysts anticipate that Masco Co. will post 4.2 EPS for the current fiscal year.

Masco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 29th. Shareholders of record on Friday, August 12th will be paid a $0.28 dividend. The ex-dividend date is Thursday, August 11th. This represents a $1.12 dividend on an annualized basis and a yield of 2.04%. Masco’s dividend payout ratio is 31.11%.

Masco Company Profile

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Masco Corporation designs, manufactures, and distributes home improvement and building products in North America, Europe, and internationally. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, sinks, toilets, acrylic tubs, shower trays, spas, exercise pools, and fitness systems; brass, copper, and composite plumbing system components; connected water products; thermoplastic solutions, extruded plastic profiles, specialized fabrications, and PEX tubing products; and other non-decorative plumbing products.

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