VELA Investment Management LLC Buys New Shares in Masco Co. (NYSE:MAS)

VELA Investment Management LLC purchased a new position in shares of Masco Co. (NYSE:MAS) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,720 shares of the construction company’s stock, valued at approximately $648,000.

Other large investors have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Masco by 14.3% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 542,096 shares of the construction company’s stock valued at $42,245,000 after purchasing an additional 67,806 shares during the period. Quantbot Technologies LP acquired a new position in shares of Masco during the 1st quarter worth approximately $1,903,000. Manning & Napier Advisors LLC bought a new stake in Masco in the 2nd quarter valued at $82,363,000. Vanguard Group Inc. lifted its holdings in Masco by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 26,300,591 shares of the construction company’s stock valued at $2,074,591,000 after purchasing an additional 721,117 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Masco by 119.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 290,123 shares of the construction company’s stock worth $22,885,000 after purchasing an additional 157,711 shares during the period. Institutional investors and hedge funds own 93.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MAS shares. Wells Fargo & Company raised their target price on shares of Masco from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Truist Financial boosted their price objective on Masco from $84.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday. Jefferies Financial Group increased their target price on Masco from $89.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Robert W. Baird reduced their price target on Masco from $95.00 to $94.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Royal Bank of Canada cut Masco from an “outperform” rating to a “sector perform” rating and increased their price objective for the stock from $79.00 to $80.00 in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $84.85.

Masco Trading Up 0.3 %

NYSE:MAS traded up $0.27 during mid-day trading on Friday, hitting $80.18. 984,078 shares of the company’s stock were exchanged, compared to its average volume of 1,812,301. The company has a 50 day simple moving average of $81.60 and a 200-day simple moving average of $74.53. The company has a current ratio of 1.83, a quick ratio of 1.12 and a debt-to-equity ratio of 20.74. Masco Co. has a fifty-two week low of $53.44 and a fifty-two week high of $86.70. The firm has a market capitalization of $17.30 billion, a P/E ratio of 21.32, a PEG ratio of 2.71 and a beta of 1.24.

Masco (NYSE:MAS) last released its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.08. Masco had a net margin of 10.54% and a return on equity of 615.54%. The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $2 billion. During the same quarter last year, the business earned $1.00 EPS. The company’s revenue was up .2% compared to the same quarter last year. As a group, research analysts expect that Masco Co. will post 4.11 earnings per share for the current year.

Masco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.29 per share. The ex-dividend date is Friday, November 8th. This represents a $1.16 annualized dividend and a yield of 1.45%. Masco’s payout ratio is 30.85%.

Insiders Place Their Bets

In other news, VP Kenneth G. Cole sold 37,814 shares of Masco stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $78.32, for a total value of $2,961,592.48. Following the completion of the sale, the vice president now owns 36,980 shares in the company, valued at $2,896,273.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.10% of the company’s stock.

Masco Company Profile

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.