Renaissance Technologies LLC Raises Stock Holdings in Masco Co. (NYSE:MAS)

Renaissance Technologies LLC grew its position in Masco Co. (NYSE:MAS - Free Report) by 14.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 660,744 shares of the construction company's stock after buying an additional 83,244 shares during the quarter. Renaissance Technologies LLC owned 0.30% of Masco worth $44,052,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in MAS. Norges Bank bought a new position in shares of Masco in the 4th quarter worth $122,144,000. Manning & Napier Advisors LLC acquired a new position in Masco during the 2nd quarter valued at about $82,363,000. Confluence Investment Management LLC acquired a new position in Masco during the 1st quarter valued at about $78,181,000. Acadian Asset Management LLC increased its position in Masco by 66.5% during the 2nd quarter. Acadian Asset Management LLC now owns 1,823,934 shares of the construction company's stock valued at $121,581,000 after buying an additional 728,690 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Masco by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 26,300,591 shares of the construction company's stock valued at $2,074,591,000 after buying an additional 721,117 shares in the last quarter. 93.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MAS. Citigroup reduced their target price on Masco from $73.00 to $66.00 and set a "neutral" rating on the stock in a research report on Thursday, July 11th. Royal Bank of Canada upped their target price on Masco from $78.00 to $79.00 and gave the company an "outperform" rating in a research report on Friday, July 26th. Truist Financial upped their target price on Masco from $81.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, July 26th. Robert W. Baird upped their target price on Masco from $84.00 to $88.00 and gave the company an "outperform" rating in a research report on Friday, July 26th. Finally, BMO Capital Markets increased their price objective on Masco from $75.00 to $78.00 and gave the company a "market perform" rating in a report on Wednesday, July 31st. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Masco currently has an average rating of "Moderate Buy" and a consensus target price of $77.58.

Masco Stock Performance

Shares of MAS traded up $1.55 during mid-day trading on Thursday, reaching $83.24. The company had a trading volume of 1,508,311 shares, compared to its average volume of 1,874,103. Masco Co. has a 52-week low of $47.66 and a 52-week high of $83.56. The company has a quick ratio of 1.12, a current ratio of 1.76 and a debt-to-equity ratio of 16.18. The stock has a market capitalization of $18.33 billion, a P/E ratio of 20.43, a PEG ratio of 2.45 and a beta of 1.24. The stock has a 50 day moving average of $76.21 and a two-hundred day moving average of $73.00.

Masco (NYSE:MAS - Get Free Report) last issued its earnings results on Thursday, July 25th. The construction company reported $1.20 EPS for the quarter, topping 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 firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the prior year, the business earned $1.19 earnings per share. The company's revenue was down 1.7% compared to the same quarter last year. On average, analysts expect that Masco Co. will post 4.11 earnings per share for the current year.

Masco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.39%. Masco's payout ratio is 28.43%.

Insider Transactions at Masco

In other Masco news, VP Kenneth G. Cole sold 37,814 shares of the stock in a transaction that occurred 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 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 accessible through the SEC website. 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.