Wedmont Private Capital Makes New Investment in Masco Co. (NYSE:MAS)

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

Several other institutional investors also recently bought and sold shares of the company. Wedge Capital Management L L P NC increased its holdings in Masco by 3.3% during the 2nd quarter. Wedge Capital Management L L P NC now owns 270,591 shares of the construction company’s stock worth $13,692,000 after purchasing an additional 8,528 shares during the period. American National Bank increased its holdings in shares of Masco by 9.5% in the 2nd quarter. American National Bank now owns 22,351 shares of the construction company’s stock valued at $1,131,000 after acquiring an additional 1,941 shares during the period. State of Alaska Department of Revenue increased its holdings in shares of Masco by 10.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 72,453 shares of the construction company’s stock valued at $3,665,000 after acquiring an additional 7,035 shares during the period. Bremer Bank National Association increased its holdings in shares of Masco by 0.4% in the 2nd quarter. Bremer Bank National Association now owns 66,820 shares of the construction company’s stock valued at $3,381,000 after acquiring an additional 261 shares during the period. Finally, DnB Asset Management AS increased its holdings in shares of Masco by 1.6% in the 2nd quarter. DnB Asset Management AS now owns 82,293 shares of the construction company’s stock valued at $4,164,000 after acquiring an additional 1,301 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. BMO Capital Markets cut their price target on Masco from $68.00 to $60.00 in a report on Monday, August 1st. Deutsche Bank Aktiengesellschaft started coverage on Masco in a report on Wednesday, August 17th. They issued a “hold” rating and a $61.00 price target on the stock. Wells Fargo & Company boosted their target price on Masco from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, August 1st. JPMorgan Chase & Co. dropped their target price on Masco from $58.00 to $54.00 in a research note on Friday, July 15th. Finally, Barclays dropped their target price on Masco from $68.00 to $66.00 and set an “overweight” rating on the stock in a research note on Thursday, July 14th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Masco presently has an average rating of “Moderate Buy” and a consensus target price of $63.93.

Masco Stock Performance

Shares of MAS opened at $48.33 on Wednesday. The stock has a 50-day moving average of $52.77 and a two-hundred day moving average of $52.98. Masco Co. has a one year low of $46.27 and a one year high of $71.06. The company has a debt-to-equity ratio of 52.66, a quick ratio of 0.81 and a current ratio of 1.36. The stock has a market cap of $10.90 billion, a P/E ratio of 13.43, a P/E/G ratio of 1.02 and a beta of 1.23.

Masco (NYSE:MASGet Rating) last issued 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 period in the prior year, the firm posted $1.14 EPS. The business’s revenue was up 7.9% compared to the same quarter last year. As a group, research analysts predict that Masco Co. will post 4.17 EPS for the current year.

Masco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 29th. Stockholders of record on Friday, August 12th were issued a $0.28 dividend. The ex-dividend date was Thursday, August 11th. This represents a $1.12 annualized dividend and a dividend yield of 2.32%. Masco’s dividend payout ratio (DPR) is presently 31.11%.

Insider Activity

In other news, CEO Keith J. Allman sold 10,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 288,295 shares of the company’s stock, valued at approximately $14,997,105.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.20% of the company’s stock.

Masco 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.

Further Reading

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Institutional Ownership by Quarter for Masco (NYSE:MAS)

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