Renaissance Technologies LLC Buys 83,244 Shares of Masco Co. (NYSE:MAS)

Renaissance Technologies LLC raised its stake in Masco Co. (NYSE:MAS) by 14.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 660,744 shares of the construction company’s stock after purchasing an additional 83,244 shares during the quarter. Renaissance Technologies LLC owned approximately 0.30% of Masco worth $44,052,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MAS. New Covenant Trust Company N.A. bought a new position in shares of Masco in the first quarter valued at $25,000. Innealta Capital LLC bought a new position in shares of Masco in the 2nd quarter valued at about $25,000. Versant Capital Management Inc increased its stake 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 worth $28,000 after purchasing an additional 136 shares during the last quarter. Family Firm Inc. acquired a new stake in Masco in the 2nd quarter valued at about $30,000. Finally, Massmutual Trust Co. FSB ADV grew its holdings in Masco by 46.0% during 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 during the period. Institutional investors and hedge funds own 93.91% of the company’s stock.

Analysts Set New Price Targets

MAS has been the topic of several research analyst reports. Barclays upped their price objective on Masco from $79.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Robert W. Baird raised their price target on Masco from $84.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Citigroup decreased their price objective on shares of Masco from $73.00 to $66.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Truist Financial raised their target price on shares of Masco from $81.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Jefferies Financial Group upped their price target on shares of Masco from $83.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $77.58.

Masco Stock Performance

MAS opened at $81.69 on Thursday. The company has a debt-to-equity ratio of 16.18, a quick ratio of 1.12 and a current ratio of 1.76. Masco Co. has a 52-week low of $47.66 and a 52-week high of $83.49. The firm has a market cap of $17.99 billion, a P/E ratio of 20.02, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. The business’s fifty day moving average is $75.90 and its 200-day moving average is $72.94.

Masco (NYSE:MAS) last released its earnings results on Thursday, July 25th. The construction company reported $1.20 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.10 billion. During the same period last year, the firm earned $1.19 EPS. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. Sell-side analysts expect 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. Shareholders of record on Friday, August 2nd were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Friday, August 2nd. Masco’s payout ratio is presently 28.43%.

Insider Buying and Selling at Masco

In related news, VP Kenneth G. Cole sold 37,814 shares of the company’s stock in a transaction 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 in the company, valued at approximately $2,896,273.60. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.10% of the company’s stock.

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.