Millburn Ridgefield Corp Buys New Holdings in Masco Co. (NYSE:MAS)

Millburn Ridgefield Corp purchased a new position in shares of Masco Co. (NYSE:MAS) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,081 shares of the construction company’s stock, valued at approximately $259,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MAS. Manning & Napier Advisors LLC acquired a new position in Masco in the second quarter valued at approximately $82,363,000. Boston Trust Walden Corp grew its position in shares of Masco by 28.3% in the 2nd quarter. Boston Trust Walden Corp now owns 467,897 shares of the construction company’s stock valued at $31,195,000 after buying an additional 103,310 shares during the last quarter. Cetera Investment Advisers raised its stake in Masco by 507.8% during the 1st quarter. Cetera Investment Advisers now owns 29,148 shares of the construction company’s stock worth $2,299,000 after acquiring an additional 24,352 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in Masco by 17.1% in the second quarter. Sequoia Financial Advisors LLC now owns 52,962 shares of the construction company’s stock valued at $3,531,000 after acquiring an additional 7,741 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC boosted its stake in Masco by 18.9% in the second quarter. Foster Victor Wealth Advisors LLC now owns 215,811 shares of the construction company’s stock valued at $14,388,000 after acquiring an additional 34,345 shares in the last quarter. 93.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Kenneth G. Cole sold 37,814 shares of Masco 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 transaction, the vice president now directly owns 36,980 shares of the company’s stock, valued at approximately $2,896,273.60. The trade was a 50.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Masco Stock Up 0.3 %

Masco stock opened at $80.73 on Wednesday. The stock’s 50 day moving average price is $81.62 and its 200 day moving average price is $75.89. Masco Co. has a 1-year low of $61.82 and a 1-year high of $86.70. The company has a market cap of $17.42 billion, a PE ratio of 21.47, a price-to-earnings-growth ratio of 2.61 and a beta of 1.23. The company has a debt-to-equity ratio of 20.74, a current ratio of 1.83 and a quick ratio of 1.21.

Masco (NYSE:MAS) last issued its earnings results on Tuesday, October 29th. The construction company reported $1.08 EPS for the quarter, hitting the consensus estimate of $1.08. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $2 billion. Masco had a net margin of 10.54% and a return on equity of 615.54%. The business’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.00 EPS. On average, sell-side analysts predict that Masco Co. will post 4.09 EPS for the current fiscal year.

Masco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Friday, November 8th were issued a $0.29 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.16 dividend on an annualized basis and a yield of 1.44%. Masco’s dividend payout ratio (DPR) is presently 30.85%.

Analyst Ratings Changes

A number of research firms have recently commented on MAS. StockNews.com cut Masco from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Evercore ISI lifted their price target on Masco from $78.00 to $82.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Barclays boosted their price objective on Masco from $92.00 to $93.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Truist Financial raised their target price on shares of Masco from $84.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Loop Capital upped their price target on shares of Masco from $76.00 to $87.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $85.96.

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.