Wedmont Private Capital Purchases New Position in Masco Co. (NYSE:MAS)

Wedmont Private Capital purchased a new stake in Masco Co. (NYSE:MASGet Rating) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,334 shares of the construction company’s stock, valued at approximately $219,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Aaron Wealth Advisors LLC purchased a new stake in Masco during the 1st quarter worth approximately $438,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Masco by 38.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,998 shares of the construction company’s stock worth $2,702,000 after buying an additional 14,744 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in Masco by 59.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 104,341 shares of the construction company’s stock worth $7,326,000 after buying an additional 38,925 shares in the last quarter. CI Investments Inc. increased its stake in Masco by 3.1% during the 1st quarter. CI Investments Inc. now owns 126,329 shares of the construction company’s stock worth $6,443,000 after buying an additional 3,826 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in Masco by 11.0% during the 1st quarter. Los Angeles Capital Management LLC now owns 11,468 shares of the construction company’s stock worth $585,000 after buying an additional 1,138 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on MAS. Deutsche Bank Aktiengesellschaft began coverage on Masco in a research note on Wednesday, August 17th. They set a “hold” rating and a $61.00 price objective for the company. BMO Capital Markets dropped their price target on Masco from $68.00 to $60.00 in a research report on Monday, August 1st. StockNews.com upgraded Masco from a “hold” rating to a “buy” rating in a research report on Monday, September 12th. Wells Fargo & Company upped their price target on Masco from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Monday, August 1st. Finally, Barclays dropped their price target on Masco from $68.00 to $66.00 and set an “overweight” rating for the company in a research report on Thursday, July 14th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Masco presently has a consensus rating of “Moderate Buy” and an average price target of $63.93.

Masco Trading Down 2.2 %

MAS opened at $48.33 on Wednesday. Masco Co. has a one year low of $46.27 and a one year high of $71.06. The stock has a market capitalization of $10.90 billion, a PE ratio of 13.43, a P/E/G ratio of 1.02 and a beta of 1.23. The business’s 50 day moving average price is $52.77 and its 200 day moving average price is $52.98. The company has a debt-to-equity ratio of 52.66, a quick ratio of 0.81 and a current ratio of 1.36.

Masco (NYSE:MASGet Rating) last released its quarterly earnings results on Thursday, July 28th. The construction company reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.05). Masco had a negative return on equity of 686.15% and a net margin of 9.83%. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter last year, the company earned $1.14 earnings per share. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, equities research analysts expect that Masco Co. will post 4.17 EPS for the current year.

Masco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 29th. Shareholders of record on Friday, August 12th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Thursday, August 11th. Masco’s dividend payout ratio (DPR) is 31.11%.

Insiders Place Their Bets

In other Masco news, CEO Keith J. Allman sold 10,000 shares of the company’s stock in a transaction on Thursday, July 14th. The stock was sold at an average price of $52.02, for a total transaction of $520,200.00. Following the transaction, the chief executive officer now directly owns 288,295 shares in the company, valued at $14,997,105.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is owned by insiders.

About Masco

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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.

Further Reading

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Institutional Ownership by Quarter for Masco (NYSE:MAS)

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