Andra AP fonden Trims Holdings in Masco Corporation $MAS

Andra AP fonden cut its holdings in Masco Corporation (NYSE:MAS) by 58.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 111,719 shares of the construction company’s stock after selling 157,981 shares during the period. Andra AP fonden owned 0.06% of Masco worth $6,744,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Bard Associates Inc. acquired a new position in Masco during the 4th quarter worth approximately $25,000. Sunbelt Securities Inc. acquired a new position in Masco in the 3rd quarter valued at $26,000. Bogart Wealth LLC raised its holdings in Masco by 2,550.0% during the fourth quarter. Bogart Wealth LLC now owns 424 shares of the construction company’s stock worth $27,000 after purchasing an additional 408 shares in the last quarter. Headlands Technologies LLC boosted its stake in shares of Masco by 114.5% in the second quarter. Headlands Technologies LLC now owns 549 shares of the construction company’s stock valued at $35,000 after buying an additional 293 shares in the last quarter. Finally, CYBER HORNET ETFs LLC acquired a new stake in Masco during the 2nd quarter valued at $37,000. 93.91% of the stock is currently owned by institutional investors and hedge funds.

Masco Trading Up 1.6%

Masco stock opened at $78.08 on Thursday. Masco Corporation has a 12-month low of $58.16 and a 12-month high of $83.21. The firm has a 50 day simple moving average of $73.94 and a 200-day simple moving average of $69.86. The stock has a market capitalization of $15.75 billion, a PE ratio of 19.37, a price-to-earnings-growth ratio of 1.89 and a beta of 1.29. The company has a debt-to-equity ratio of 109.07, a current ratio of 1.75 and a quick ratio of 1.11.

Masco (NYSE:MAS) last issued its earnings results on Wednesday, April 22nd. The construction company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.16. Masco had a return on equity of 815.20% and a net margin of 10.90%.The business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the previous year, the firm posted $0.87 EPS. The company’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, equities research analysts expect that Masco Corporation will post 4.25 EPS for the current fiscal year.

Masco announced that its board has authorized a stock buyback program on Thursday, May 7th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the construction company to reacquire up to 2.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Masco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Friday, May 22nd were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, May 22nd. Masco’s dividend payout ratio is currently 31.76%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Weiss Ratings upgraded Masco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. BMO Capital Markets cut their price objective on Masco from $77.00 to $75.00 and set a “market perform” rating on the stock in a research report on Monday, April 20th. Robert W. Baird boosted their target price on shares of Masco from $72.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, April 23rd. Truist Financial increased their price target on Masco from $85.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Finally, Royal Bank Of Canada raised their price objective on shares of Masco from $67.00 to $72.00 and gave the stock a “sector perform” rating in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Masco currently has an average rating of “Hold” and an average target price of $80.67.

About Masco

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.