AE Wealth Management LLC Purchases 13,269 Shares of Masco Co. (NYSE:MAS)

AE Wealth Management LLC boosted its holdings in shares of Masco Co. (NYSE:MAS) by 32.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 54,490 shares of the construction company’s stock after buying an additional 13,269 shares during the period. AE Wealth Management LLC’s holdings in Masco were worth $3,633,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. New Covenant Trust Company N.A. purchased a new position in shares of Masco during the first quarter worth about $25,000. Innealta Capital LLC bought a new stake in Masco during the second quarter valued at approximately $25,000. Versant Capital Management Inc grew its stake in Masco by 62.4% in the 1st quarter. Versant Capital Management Inc now owns 354 shares of the construction company’s stock worth $28,000 after buying an additional 136 shares in the last quarter. Family Firm Inc. bought a new position in shares of Masco in the 2nd quarter worth $30,000. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of Masco by 46.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the construction company’s stock valued at $38,000 after buying an additional 179 shares in the last quarter. 93.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Masco

In other news, VP Kenneth G. Cole sold 37,814 shares of Masco stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $78.32, for a total transaction of $2,961,592.48. Following the sale, the vice president now owns 36,980 shares of the company’s stock, valued at approximately $2,896,273.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

Masco Price Performance

Shares of Masco stock opened at $82.11 on Monday. The firm has a market cap of $18.08 billion, a PE ratio of 20.13, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. The company’s fifty day simple moving average is $76.72 and its two-hundred day simple moving average is $73.05. The company has a quick ratio of 1.12, a current ratio of 1.76 and a debt-to-equity ratio of 16.18. Masco Co. has a 12-month low of $47.66 and a 12-month high of $83.56.

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

Masco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 2nd were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.41%. The ex-dividend date was Friday, August 2nd. Masco’s dividend payout ratio (DPR) is currently 28.43%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MAS. BMO Capital Markets upped their target price 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. Citigroup reduced their price objective on Masco from $73.00 to $66.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Truist Financial boosted their target price on Masco from $81.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Jefferies Financial Group increased their price target on shares of Masco from $83.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Finally, Barclays boosted their price objective on shares of Masco from $79.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.58.

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.