Healthcare of Ontario Pension Plan Trust Fund Takes Position in Masco Co. (NYSE:MAS)

Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Masco Co. (NYSE:MAS) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 3,345 shares of the construction company’s stock, valued at approximately $264,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co lifted its position in shares of Masco by 12.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 210,512 shares of the construction company’s stock valued at $16,600,000 after acquiring an additional 22,540 shares in the last quarter. Vaughan David Investments LLC IL acquired a new position in Masco in the 1st quarter valued at $223,000. Lake Street Advisors Group LLC purchased a new position in Masco in the 1st quarter valued at $296,000. Atlanta Consulting Group Advisors LLC acquired a new stake in Masco during the 1st quarter worth $1,955,000. Finally, UniSuper Management Pty Ltd boosted its stake in Masco by 456.1% during the 1st quarter. UniSuper Management Pty Ltd now owns 14,670 shares of the construction company’s stock worth $1,157,000 after purchasing an additional 12,032 shares during the last quarter. 93.91% of the stock is owned by hedge funds and other institutional investors.

Masco Stock Up 7.5 %

Shares of MAS opened at $75.88 on Friday. The company’s 50-day moving average price is $68.64 and its 200 day moving average price is $71.17. Masco Co. has a 12-month low of $47.66 and a 12-month high of $78.94. The company has a current ratio of 1.74, a quick ratio of 1.09 and a debt-to-equity ratio of 18.76. The firm has a market cap of $16.71 billion, a P/E ratio of 18.60, a price-to-earnings-growth ratio of 1.87 and a beta of 1.24.

Masco (NYSE:MAS) last released its quarterly earnings results on Thursday, July 25th. The construction company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.04. The business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.10 billion. Masco had a net margin of 11.60% and a return on equity of 865.37%. The business’s revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.19 EPS. On average, sell-side analysts forecast that Masco Co. will post 4.08 earnings per share for the current year.

Masco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 19th. Stockholders of record on Friday, August 2nd will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, August 2nd. This represents a $1.16 annualized dividend and a dividend yield of 1.53%. Masco’s dividend payout ratio is currently 28.43%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MAS. StockNews.com downgraded shares of Masco from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Evercore ISI dropped their price target on Masco from $75.00 to $74.00 and set an “in-line” rating for the company in a research report on Thursday, April 25th. Citigroup cut their price target on Masco from $73.00 to $66.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Royal Bank of Canada boosted their price objective on Masco from $79.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Finally, Jefferies Financial Group raised their target price on Masco from $83.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Masco currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.00.

About Masco

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.