Choreo LLC Takes $422,000 Position in Masco Co. (NYSE:MAS)

Choreo LLC bought a new stake in shares of Masco Co. (NYSE:MAS) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 6,493 shares of the construction company’s stock, valued at approximately $422,000.

A number of other institutional investors have also recently modified their holdings of MAS. Norges Bank acquired a new stake in shares of Masco in the fourth quarter worth approximately $122,144,000. Manning & Napier Advisors LLC purchased a new stake in shares of Masco during the second quarter worth $82,363,000. Confluence Investment Management LLC acquired a new stake in shares of Masco in the first quarter valued at about $78,181,000. Acadian Asset Management LLC lifted its stake in shares of Masco by 66.5% in the second quarter. Acadian Asset Management LLC now owns 1,823,934 shares of the construction company’s stock worth $121,581,000 after buying an additional 728,690 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Masco by 2.8% during the first 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 during the last quarter. 93.91% of the stock is currently owned by institutional investors and hedge funds.

Masco Price Performance

Shares of MAS opened at $81.04 on Tuesday. Masco Co. has a 1-year low of $47.66 and a 1-year high of $81.91. The stock has a market cap of $17.69 billion, a PE ratio of 19.86, a P/E/G ratio of 2.45 and a beta of 1.24. The firm has a 50-day simple moving average of $75.59 and a two-hundred day simple moving average of $72.91. 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 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 analysts’ expectations of $2.10 billion. Masco had a net margin of 11.59% and a return on equity of 602.39%. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period last year, the business earned $1.19 earnings per share. As a group, analysts forecast that Masco Co. will post 4.11 EPS for the current year.

Masco Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date was Friday, August 2nd. Masco’s dividend payout ratio (DPR) is currently 28.43%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Jefferies Financial Group raised their target price on shares of Masco from $83.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. BMO Capital Markets lifted their price objective on Masco from $75.00 to $78.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. Citigroup dropped their target price on Masco from $73.00 to $66.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Robert W. Baird lifted 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. Finally, Barclays upped their price objective on shares of Masco from $79.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Masco has an average rating of “Moderate Buy” and an average price target of $77.58.

Insider Activity at Masco

In related news, VP Kenneth G. Cole sold 37,814 shares of Masco stock in a transaction that occurred 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 in the company, valued at $2,896,273.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.10% of the company’s stock.

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.