Van ECK Associates Corp Acquires 299,520 Shares of Masco Co. (NYSE:MAS)

Van ECK Associates Corp boosted its stake in shares of Masco Co. (NYSE:MAS) by 10.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,250,400 shares of the construction company’s stock after acquiring an additional 299,520 shares during the quarter. Van ECK Associates Corp owned 1.51% of Masco worth $235,881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in MAS. ORG Wealth Partners LLC bought a new position in Masco during the 4th quarter valued at approximately $27,000. Golden State Wealth Management LLC purchased a new position in shares of Masco in the 4th quarter valued at approximately $27,000. Capital Performance Advisors LLP bought a new stake in shares of Masco during the 3rd quarter valued at $38,000. Ashton Thomas Securities LLC bought a new stake in Masco during the third quarter worth about $43,000. Finally, Venturi Wealth Management LLC grew its stake in shares of Masco by 59.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 596 shares of the construction company’s stock worth $50,000 after buying an additional 222 shares during the last quarter. Institutional investors own 93.91% of the company’s stock.

Masco Stock Down 2.5 %

Shares of NYSE MAS opened at $76.71 on Thursday. The company has a market cap of $16.55 billion, a P/E ratio of 20.40, a PEG ratio of 2.09 and a beta of 1.25. The firm has a 50-day simple moving average of $76.53 and a two-hundred day simple moving average of $78.70. Masco Co. has a 1 year low of $63.81 and a 1 year high of $86.70. The company has a debt-to-equity ratio of 20.74, a current ratio of 1.83 and a quick ratio of 1.21.

Masco (NYSE:MAS) last posted its quarterly earnings results on Tuesday, February 11th. The construction company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Masco had a net margin of 10.54% and a return on equity of 615.54%. During the same period in the previous year, the firm earned $0.83 EPS. Research analysts anticipate that Masco Co. will post 4.09 earnings per share for the current year.

Masco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 21st will be issued a $0.31 dividend. The ex-dividend date is Friday, February 21st. This represents a $1.24 annualized dividend and a dividend yield of 1.62%. This is a positive change from Masco’s previous quarterly dividend of $0.29. Masco’s payout ratio is currently 30.85%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Loop Capital boosted their target price on Masco from $76.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Truist Financial boosted their price target on Masco from $84.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group cut shares of Masco from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $96.00 to $89.00 in a research note on Monday, December 16th. Wells Fargo & Company decreased their target price on Masco from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $74.00 price target on shares of Masco in a report on Wednesday. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Masco presently has a consensus rating of “Hold” and a consensus target price of $85.58.

Masco 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.