Assenagon Asset Management S.A. Has $83.07 Million Position in Masco Co. (NYSE:MAS)

Assenagon Asset Management S.A. increased its position in shares of Masco Co. (NYSE:MAS) by 956.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 989,640 shares of the construction company’s stock after buying an additional 895,950 shares during the quarter. Assenagon Asset Management S.A. owned 0.45% of Masco worth $83,070,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MAS. New Covenant Trust Company N.A. acquired a new stake in shares of Masco during the 1st quarter worth approximately $25,000. Innealta Capital LLC bought a new position in Masco in the second quarter worth $25,000. Family Firm Inc. acquired a new stake in Masco during the second quarter worth $30,000. Massmutual Trust Co. FSB ADV increased its holdings in Masco by 46.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the construction company’s stock valued at $38,000 after buying an additional 179 shares during the period. Finally, Larson Financial Group LLC raised its stake 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 valued at $40,000 after buying an additional 500 shares in the last quarter. 93.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Masco

In other Masco news, VP Kenneth G. Cole sold 37,814 shares of the business’s 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 directly owns 36,980 shares of the company’s stock, valued at approximately $2,896,273.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

Masco Trading Up 1.1 %

Shares of MAS traded up $0.91 on Thursday, reaching $82.86. 346,556 shares of the company’s stock were exchanged, compared to its average volume of 1,797,495. Masco Co. has a 12 month low of $47.66 and a 12 month high of $86.70. The stock has a market capitalization of $18.25 billion, a P/E ratio of 20.08, a price-to-earnings-growth ratio of 2.64 and a beta of 1.24. The company has a current ratio of 1.76, a quick ratio of 1.12 and a debt-to-equity ratio of 16.18. The business has a 50 day moving average price of $81.10 and a two-hundred day moving average price of $74.22.

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 the consensus estimate of $1.18 by $0.02. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.10 billion. Masco had a return on equity of 602.39% and a net margin of 11.59%. The company’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.19 earnings per share. Research analysts anticipate that Masco Co. will post 4.11 earnings per share for the current year.

Wall Street Analyst Weigh In

MAS has been the topic of a number of analyst reports. BMO Capital Markets upped their target price on shares of Masco from $78.00 to $85.00 and gave the company a “market perform” rating in a research note on Tuesday. Royal Bank of Canada increased their target price on Masco from $78.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Wells Fargo & Company boosted their price target on Masco from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Truist Financial increased their price objective on Masco from $81.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, StockNews.com upgraded shares of Masco from a “hold” rating to a “buy” rating in a research note on Monday. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $81.75.

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.