Assenagon Asset Management S.A. Acquires Shares of 38,900 Masco Co. (NYSE:MAS)

Assenagon Asset Management S.A. bought a new position in Masco Co. (NYSE:MASFree Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 38,900 shares of the construction company’s stock, valued at approximately $2,606,000.

Other institutional investors have also added to or reduced their stakes in the company. DecisionPoint Financial LLC purchased a new stake in shares of Masco during the second quarter valued at $29,000. Fortitude Family Office LLC bought a new stake in Masco during the 4th quarter valued at approximately $39,000. VisionPoint Advisory Group LLC bought a new stake in Masco during the 2nd quarter valued at approximately $35,000. Bruce G. Allen Investments LLC bought a new stake in Masco during the 4th quarter valued at approximately $44,000. Finally, Center for Financial Planning Inc. increased its stake in Masco by 270.6% in the 3rd quarter. Center for Financial Planning Inc. now owns 667 shares of the construction company’s stock worth $36,000 after acquiring an additional 487 shares during the last quarter. Institutional investors own 93.91% of the company’s stock.

Insider Buying and Selling

In other news, insider Jai Shah sold 42,552 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $76.36, for a total transaction of $3,249,270.72. Following the completion of the transaction, the insider now directly owns 15,830 shares in the company, valued at $1,208,778.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Jai Shah sold 42,552 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $76.36, for a total transaction of $3,249,270.72. Following the completion of the transaction, the insider now directly owns 15,830 shares in the company, valued at $1,208,778.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Richard Allan Marshall sold 5,000 shares of Masco stock in a transaction on Friday, March 1st. The shares were sold at an average price of $77.05, for a total value of $385,250.00. Following the completion of the transaction, the vice president now owns 10,465 shares of the company’s stock, valued at $806,328.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 83,762 shares of company stock worth $6,337,597. Company insiders own 1.50% of the company’s stock.

Masco Stock Performance

Shares of MAS stock opened at $77.90 on Thursday. The company has a market capitalization of $17.12 billion, a P/E ratio of 19.43, a P/E/G ratio of 2.18 and a beta of 1.25. The business’s 50 day moving average is $74.18 and its two-hundred day moving average is $64.60. The company has a current ratio of 1.68, a quick ratio of 1.08 and a debt-to-equity ratio of 30.05. Masco Co. has a 12-month low of $46.69 and a 12-month high of $78.94.

Masco (NYSE:MASGet Free Report) last posted its quarterly earnings results on Thursday, February 8th. The construction company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.66 by $0.17. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.79 billion. Masco had a return on equity of 3,111.50% and a net margin of 11.40%. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 earnings per share. Analysts expect that Masco Co. will post 4.12 EPS for the current fiscal year.

Masco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Thursday, February 22nd were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.49%. This is a positive change from Masco’s previous quarterly dividend of $0.29. The ex-dividend date was Wednesday, February 21st. Masco’s dividend payout ratio is presently 28.93%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MAS shares. Truist Financial lifted their target price on Masco from $65.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Oppenheimer assumed coverage on Masco in a research report on Friday, January 19th. They issued a “market perform” rating for the company. Royal Bank of Canada boosted their price target on Masco from $73.00 to $79.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Wells Fargo & Company upped their target price on Masco from $58.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, December 6th. Finally, The Goldman Sachs Group boosted their price target on Masco from $66.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, December 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $68.92.

Check Out Our Latest Stock Analysis on Masco

Masco Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Masco (NYSE:MAS)

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