Oppenheimer Asset Management Inc. Grows Position in Masco Co. (NYSE:MAS)

Oppenheimer Asset Management Inc. increased its position in Masco Co. (NYSE:MAS) by 14.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 142,443 shares of the construction company’s stock after purchasing an additional 18,287 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Masco were worth $9,497,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. New Covenant Trust Company N.A. purchased a new position in Masco during the first quarter valued at $25,000. Versant Capital Management Inc increased its holdings in shares of Masco by 62.4% in 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 in the last quarter. Innealta Capital LLC bought a new stake in shares of Masco in the 2nd quarter worth $25,000. Family Firm Inc. bought a new stake in shares of Masco in the 2nd quarter worth $30,000. Finally, Larson Financial Group LLC increased its holdings in shares of Masco by 4,545.5% in the 1st quarter. Larson Financial Group LLC now owns 511 shares of the construction company’s stock worth $40,000 after purchasing an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 93.91% of the company’s stock.

Insider Activity at Masco

In related news, VP Kenneth G. Cole sold 37,814 shares of Masco stock in a transaction dated Tuesday, September 10th. The stock was 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 approximately $2,896,273.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.10% of the stock is owned by company insiders.

Masco Stock Performance

Shares of MAS opened at $80.21 on Friday. The stock has a 50-day moving average of $75.28 and a two-hundred day moving average of $72.91. Masco Co. has a one year low of $47.66 and a one year high of $81.91. The company has a debt-to-equity ratio of 16.18, a quick ratio of 1.12 and a current ratio of 1.76. The stock has a market cap of $17.51 billion, a P/E ratio of 19.66, a P/E/G ratio of 2.45 and a beta of 1.24.

Masco (NYSE:MAS) last released its quarterly earnings data 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. Masco had a return on equity of 602.39% and a net margin of 11.59%. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same quarter last year, the business posted $1.19 EPS. The company’s revenue was down 1.7% on a year-over-year basis. As a group, research analysts predict that Masco Co. will post 4.11 EPS for the current year.

Masco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 2nd were paid a $0.29 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $1.16 annualized dividend and a dividend yield of 1.45%. Masco’s dividend payout ratio is presently 28.43%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MAS. Royal Bank of Canada lifted their price objective on Masco from $78.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Jefferies Financial Group boosted their price objective on Masco from $83.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. BMO Capital Markets boosted their price objective on Masco from $75.00 to $78.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. Robert W. Baird boosted their price objective on Masco from $84.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Truist Financial boosted their target price on Masco from $81.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $77.58.

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.