Oppenheimer & Co. Inc. Sells 471 Shares of Masco Co. (NYSE:MAS)

Oppenheimer & Co. Inc. lessened its stake in Masco Co. (NYSE:MAS) by 0.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 55,426 shares of the construction company’s stock after selling 471 shares during the period. Oppenheimer & Co. Inc.’s holdings in Masco were worth $3,695,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. New Covenant Trust Company N.A. bought a new position in Masco during the first quarter worth $25,000. Innealta Capital LLC acquired a new position in shares of Masco in the 2nd quarter valued at about $25,000. Versant Capital Management Inc boosted its position in shares of Masco by 62.4% during the 1st quarter. Versant Capital Management Inc now owns 354 shares of the construction company’s stock valued at $28,000 after purchasing an additional 136 shares in the last quarter. Family Firm Inc. acquired a new stake in Masco during the second quarter worth approximately $30,000. Finally, Massmutual Trust Co. FSB ADV increased its holdings in Masco by 46.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the construction company’s stock worth $38,000 after purchasing an additional 179 shares in the last quarter. Institutional investors and hedge funds own 93.91% of the company’s stock.

Insider Transactions at Masco

In related news, VP Kenneth G. Cole sold 37,814 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $78.32, for a total transaction of $2,961,592.48. Following the completion of the sale, the vice president now directly owns 36,980 shares of the company’s stock, valued at $2,896,273.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on MAS. Citigroup cut their price target on Masco from $73.00 to $66.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Truist Financial lifted their price target on shares of Masco from $81.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Jefferies Financial Group increased their price objective on shares of Masco from $83.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Barclays boosted their target price on Masco from $79.00 to $88.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, Robert W. Baird increased their price target on Masco from $84.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Masco presently has an average rating of “Moderate Buy” and a consensus target price of $77.58.

Masco Stock Up 1.6 %

Shares of NYSE:MAS opened at $80.21 on Monday. The stock has a market cap of $17.51 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 2.45 and a beta of 1.24. The business’s 50 day moving average is $75.28 and its 200 day moving average is $72.88. Masco Co. has a 12-month low of $47.66 and a 12-month high of $81.91. 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 (NYSE:MAS) last posted its earnings results on Thursday, July 25th. The construction company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.02. Masco had a net margin of 11.59% and a return on equity of 602.39%. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same quarter in the prior year, the business posted $1.19 EPS. The business’s revenue was down 1.7% compared to the same quarter last year. On average, sell-side analysts forecast that Masco Co. will post 4.11 earnings per share for the current fiscal year.

Masco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 2nd were given a dividend of $0.29 per share. The ex-dividend date was Friday, August 2nd. This represents a $1.16 annualized dividend and a dividend yield of 1.45%. Masco’s dividend payout ratio is currently 28.43%.

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.