Arrowstreet Capital Limited Partnership Purchases 956,204 Shares of Masco Corporation $MAS

Arrowstreet Capital Limited Partnership boosted its position in shares of Masco Corporation (NYSE:MAS) by 828.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,071,592 shares of the construction company’s stock after purchasing an additional 956,204 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.53% of Masco worth $64,692,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. bought a new position in shares of Masco during the third quarter valued at approximately $26,000. Bard Associates Inc. purchased a new stake in shares of Masco in the fourth quarter worth approximately $25,000. Bogart Wealth LLC lifted its stake in shares of Masco by 2,550.0% during the 4th quarter. Bogart Wealth LLC now owns 424 shares of the construction company’s stock worth $27,000 after acquiring an additional 408 shares during the last quarter. Headlands Technologies LLC lifted its stake in shares of Masco by 114.5% during the 2nd quarter. Headlands Technologies LLC now owns 549 shares of the construction company’s stock worth $35,000 after acquiring an additional 293 shares during the last quarter. Finally, CYBER HORNET ETFs LLC purchased a new position in Masco during the 2nd quarter valued at $37,000. 93.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on MAS. Barclays lifted their target price on Masco from $78.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 14th. Citigroup cut their price target on shares of Masco from $84.00 to $79.00 and set a “neutral” rating on the stock in a report on Thursday, April 23rd. Zacks Research raised shares of Masco from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. Weiss Ratings upgraded shares of Masco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Finally, Evercore raised shares of Masco from an “in-line” rating to an “outperform” rating and set a $78.00 price objective for the company in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $80.67.

Masco Stock Performance

Shares of NYSE:MAS opened at $79.32 on Monday. The firm has a 50 day moving average of $74.41 and a 200 day moving average of $70.06. The company has a quick ratio of 1.11, a current ratio of 1.75 and a debt-to-equity ratio of 109.07. The company has a market capitalization of $16.00 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 1.95 and a beta of 1.29. Masco Corporation has a 52 week low of $58.16 and a 52 week high of $83.21.

Masco Announces Dividend

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

Masco declared that its Board of Directors has approved a share buyback program on Thursday, May 7th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the construction company to purchase up to 2.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Masco Company Profile

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.