Axxcess Wealth Management LLC Buys 1,746 Shares of Masco Co. (NYSE:MAS)

Axxcess Wealth Management LLC raised its stake in shares of Masco Co. (NYSE:MAS) by 9.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,323 shares of the construction company’s stock after acquiring an additional 1,746 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Masco were worth $1,355,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Edgestream Partners L.P. bought a new position in shares of Masco during the second quarter valued at $1,509,000. Renaissance Technologies LLC lifted its holdings in shares of Masco by 14.4% during the second quarter. Renaissance Technologies LLC now owns 660,744 shares of the construction company’s stock valued at $44,052,000 after acquiring an additional 83,244 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Masco by 12.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,137,450 shares of the construction company’s stock valued at $75,834,000 after acquiring an additional 122,705 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Masco by 1.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 9,830,723 shares of the construction company’s stock valued at $655,414,000 after acquiring an additional 181,515 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Masco by 2.0% during the second quarter. Envestnet Asset Management Inc. now owns 835,316 shares of the construction company’s stock valued at $55,691,000 after acquiring an additional 16,289 shares during the period. 93.91% of the stock is owned by institutional investors.

Insider Activity at Masco

In related news, VP Kenneth G. Cole sold 37,814 shares of the firm’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 completion of the transaction, the vice president now owns 36,980 shares of the company’s stock, valued at $2,896,273.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. BMO Capital Markets lifted their price target on Masco from $75.00 to $78.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. Jefferies Financial Group boosted their target price on Masco from $83.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Robert W. Baird boosted their target price on Masco from $84.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Citigroup decreased their target price on Masco from $73.00 to $66.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Finally, Truist Financial boosted their price objective on Masco from $81.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $77.58.

Masco Stock Performance

Shares of MAS opened at $81.69 on Thursday. The stock has a market capitalization of $17.99 billion, a price-to-earnings ratio of 20.02, a PEG ratio of 2.45 and a beta of 1.24. Masco Co. has a 12 month low of $47.66 and a 12 month high of $83.49. The firm has a fifty day simple moving average of $75.90 and a 200 day simple moving average of $72.94. The company has a current ratio of 1.76, a quick ratio of 1.12 and a debt-to-equity ratio of 16.18.

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

Masco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 2nd were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date was Friday, August 2nd. Masco’s dividend payout ratio (DPR) is currently 28.43%.

About Masco

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.