Choreo LLC Makes New $422,000 Investment in Masco Co. (NYSE:MAS)

Choreo LLC purchased a new position in shares of Masco Co. (NYSE:MAS) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 6,493 shares of the construction company’s stock, valued at approximately $422,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MAS. Norges Bank acquired a new position in Masco during the 4th quarter worth approximately $122,144,000. Manning & Napier Advisors LLC acquired a new position in Masco during the 2nd quarter worth approximately $82,363,000. Confluence Investment Management LLC acquired a new position in Masco during the 1st quarter worth approximately $78,181,000. Acadian Asset Management LLC grew its holdings in Masco by 66.5% during the 2nd quarter. Acadian Asset Management LLC now owns 1,823,934 shares of the construction company’s stock worth $121,581,000 after acquiring an additional 728,690 shares in the last quarter. Finally, Vanguard Group Inc. grew 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 worth $2,074,591,000 after acquiring an additional 721,117 shares in the last quarter. Institutional investors and hedge funds own 93.91% of the company’s stock.

Masco Stock Up 1.0 %

MAS stock opened at $81.04 on Tuesday. The company has a fifty day moving average price of $75.59 and a 200 day moving average price of $72.91. Masco Co. has a 12 month low of $47.66 and a 12 month high of $81.91. The company has a market cap of $17.69 billion, a price-to-earnings ratio of 19.86, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. The company has a debt-to-equity ratio of 16.18, a current ratio of 1.76 and a quick ratio of 1.12.

Masco (NYSE:MAS) last announced its quarterly earnings data on Thursday, July 25th. The construction company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.02. The company had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Masco had a net margin of 11.59% and a return on equity of 602.39%. Masco’s revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.19 EPS. Sell-side analysts expect that Masco Co. will post 4.11 earnings per share for the current year.

Masco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 2nd were paid a $0.29 dividend. The ex-dividend date was Friday, August 2nd. This represents a $1.16 annualized dividend and a yield of 1.43%. Masco’s dividend payout ratio is currently 28.43%.

Analyst Ratings Changes

MAS has been the subject of several recent analyst reports. Royal Bank of Canada boosted their price objective on shares of Masco from $78.00 to $79.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Robert W. Baird boosted their price objective on shares of Masco from $84.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Citigroup reduced their price objective on shares of Masco from $73.00 to $66.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. BMO Capital Markets boosted their price objective on shares of Masco from $75.00 to $78.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. Finally, Truist Financial boosted their price objective on shares of Masco from $81.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $77.58.

Insider Buying and Selling at Masco

In other Masco news, VP Kenneth G. Cole sold 37,814 shares of the business’s 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 transaction, the vice president now directly owns 36,980 shares of the company’s stock, valued at approximately $2,896,273.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by corporate insiders.

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.