Clarius Group LLC acquired a new stake in Masco Co. (NYSE:MAS) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,270 shares of the construction company’s stock, valued at approximately $376,000.
A number of other large investors also recently added to or reduced their stakes in the business. CX Institutional raised its position in Masco by 5.5% in the first quarter. CX Institutional now owns 3,029 shares of the construction company’s stock valued at $181,000 after purchasing an additional 159 shares during the period. Boltwood Capital Management increased its position in shares of Masco by 1.5% during the first quarter. Boltwood Capital Management now owns 10,997 shares of the construction company’s stock worth $659,000 after acquiring an additional 165 shares during the last quarter. AGF Investments LLC increased its position in shares of Masco by 1.8% during the fourth quarter. AGF Investments LLC now owns 10,595 shares of the construction company’s stock worth $582,000 after acquiring an additional 186 shares during the last quarter. Allstate Corp increased its position in shares of Masco by 4.4% during the fourth quarter. Allstate Corp now owns 5,402 shares of the construction company’s stock worth $297,000 after acquiring an additional 228 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC increased its position in shares of Masco by 4.5% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 5,918 shares of the construction company’s stock worth $325,000 after acquiring an additional 253 shares during the last quarter. 90.93% of the stock is currently owned by institutional investors.
A number of brokerages have recently issued reports on MAS. Loop Capital lowered Masco from a “buy” rating to a “hold” rating and set a $61.00 target price on the stock. in a research report on Wednesday, February 10th. Jefferies Financial Group lowered Masco from a “buy” rating to a “hold” rating and dropped their target price for the stock from $69.00 to $61.00 in a research report on Monday, January 4th. Credit Suisse Group lifted their target price on Masco from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 10th. They noted that the move was a valuation call. Wolfe Research assumed coverage on Masco in a research report on Tuesday, March 23rd. They set a “peer perform” rating on the stock. Finally, Truist boosted their price objective on Masco from $70.00 to $75.00 in a report on Thursday, April 29th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $62.91.
Masco (NYSE:MAS) last issued its earnings results on Wednesday, April 28th. The construction company reported $0.89 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.23. The company had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.81 billion. Masco had a return on equity of 1,966.88% and a net margin of 21.27%. Masco’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.46 earnings per share. Analysts expect that Masco Co. will post 3.07 EPS for the current fiscal year.
Masco announced that its board has authorized a share repurchase program on Tuesday, February 9th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the construction company to purchase up to 13.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
In other Masco news, CEO Keith J. Allman sold 28,261 shares of the company’s stock in a transaction that occurred on Friday, February 5th. The stock was sold at an average price of $56.21, for a total value of $1,588,550.81. Following the completion of the sale, the chief executive officer now directly owns 340,484 shares in the company, valued at $19,138,605.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John G. Sznewajs sold 7,615 shares of the company’s stock in a transaction that occurred on Friday, February 5th. The stock was sold at an average price of $56.21, for a total value of $428,039.15. Following the completion of the sale, the chief financial officer now owns 222,475 shares of the company’s stock, valued at $12,505,319.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,075 shares of company stock valued at $3,080,977. Insiders own 1.23% of the company’s stock.
Masco Corporation designs, manufactures, and distributes home improvement and building products in North America, Europe, and internationally. The company operates through two segments, Plumbing Products and Decorative Architectural Products. The 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.
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