Healthcare of Ontario Pension Plan Trust Fund bought a new position in Masco Co. (NYSE:MAS) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 140,420 shares of the construction company’s stock, valued at approximately $7,713,000.
A number of other hedge funds have also recently added to or reduced their stakes in MAS. Allworth Financial LP grew its position in shares of Masco by 229.9% in the fourth quarter. Allworth Financial LP now owns 452 shares of the construction company’s stock valued at $25,000 after purchasing an additional 315 shares during the last quarter. Charter Oak Capital Management LLC bought a new position in Masco in the 4th quarter worth approximately $30,000. International Assets Investment Management LLC bought a new position in Masco in the 4th quarter worth approximately $35,000. Vectors Research Management LLC acquired a new position in shares of Masco during the fourth quarter worth approximately $42,000. Finally, Perigon Wealth Management LLC bought a new stake in shares of Masco in the fourth quarter valued at approximately $46,000. Institutional investors own 90.93% of the company’s stock.
Several equities analysts have commented on the company. Wolfe Research started coverage on Masco in a report on Tuesday, March 23rd. They issued a “peer perform” rating for the company. Credit Suisse Group raised 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. BMO Capital Markets assumed coverage on shares of Masco in a research note on Wednesday, January 13th. They issued a “market perform” rating and a $62.00 target price for the company. Zacks Investment Research lowered shares of Masco from a “buy” rating to a “hold” rating and set a $58.00 price objective on the stock. in a report on Tuesday, December 29th. Finally, Jefferies Financial Group downgraded 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. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $60.55.
Shares of NYSE MAS opened at $61.10 on Thursday. Masco Co. has a twelve month low of $37.62 and a twelve month high of $62.86. The stock has a market cap of $15.71 billion, a price-to-earnings ratio of 11.29, a P/E/G ratio of 1.23 and a beta of 1.33. The company has a quick ratio of 1.54, a current ratio of 2.01 and a debt-to-equity ratio of 8.17. The company’s fifty day moving average is $56.62 and its 200-day moving average is $55.66.
Masco (NYSE:MAS) last issued its quarterly earnings data on Monday, February 8th. The construction company reported $0.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.01. Masco had a return on equity of 1,966.88% and a net margin of 21.27%. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter last year, the business posted $0.54 EPS. The firm’s revenue was up 13.5% compared to the same quarter last year. On average, research analysts anticipate that Masco Co. will post 3.07 EPS for the current fiscal year.
Masco declared that its Board of Directors has authorized a share buyback program on Tuesday, February 9th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the construction company to purchase up to 13.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
In related news, CEO Keith J. Allman sold 28,261 shares of the stock in a transaction that occurred on Friday, February 5th. The stock was sold at an average price of $56.21, for a total transaction of $1,588,550.81. Following the completion of the sale, the chief executive officer now directly owns 340,484 shares of the company’s stock, valued at approximately $19,138,605.64. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO John G. Sznewajs sold 1,656 shares of the firm’s stock in a transaction that occurred on Friday, February 26th. The stock was sold at an average price of $53.20, for a total transaction of $88,099.20. In the last ninety days, insiders have sold 44,075 shares of company stock worth $2,452,777. 1.23% of the stock is currently owned by insiders.
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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