Bank of Montreal Can Buys 294,409 Shares of Masco Co. (NYSE:MAS)

Bank of Montreal Can raised its position in Masco Co. (NYSE:MAS - Free Report) by 86.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 634,740 shares of the construction company's stock after acquiring an additional 294,409 shares during the quarter. Bank of Montreal Can owned approximately 0.29% of Masco worth $42,318,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of MAS. Versant Capital Management Inc raised its position in Masco by 62.4% during the 1st quarter. Versant Capital Management Inc now owns 354 shares of the construction company's stock valued at $28,000 after purchasing an additional 136 shares during the last quarter. Ballentine Partners LLC raised its holdings in shares of Masco by 2.5% during the first quarter. Ballentine Partners LLC now owns 5,513 shares of the construction company's stock valued at $435,000 after acquiring an additional 137 shares in the last quarter. HB Wealth Management LLC lifted its stake in Masco by 3.6% in the second quarter. HB Wealth Management LLC now owns 4,127 shares of the construction company's stock worth $275,000 after acquiring an additional 142 shares during the period. BOKF NA boosted its holdings in Masco by 2.5% in the first quarter. BOKF NA now owns 6,178 shares of the construction company's stock valued at $480,000 after acquiring an additional 149 shares in the last quarter. Finally, Blair William & Co. IL increased its position in Masco by 1.8% during the 1st quarter. Blair William & Co. IL now owns 9,516 shares of the construction company's stock valued at $751,000 after purchasing an additional 165 shares during the period. 93.91% of the stock is owned by institutional investors.

Masco Trading Up 1.0 %

Shares of NYSE MAS opened at $83.14 on Friday. The firm's 50 day moving average price is $77.51 and its 200-day moving average price is $73.27. The company has a debt-to-equity ratio of 16.18, a quick ratio of 1.12 and a current ratio of 1.76. Masco Co. has a 52-week low of $47.66 and a 52-week high of $83.63. The company has a market cap of $18.15 billion, a PE ratio of 20.38, a P/E/G ratio of 2.59 and a beta of 1.24.

Masco (NYSE:MAS - Get Free Report) last issued its earnings results on Thursday, July 25th. The construction company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.02. The company had revenue of $2.09 billion for 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 firm's quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the company posted $1.19 earnings per share. On average, equities research analysts expect that Masco Co. will post 4.11 EPS for the current fiscal year.

Masco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 2nd were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date was Friday, August 2nd. Masco's payout ratio is 28.43%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MAS. Barclays lifted their target price on shares of Masco from $79.00 to $88.00 and gave the company an "overweight" rating in a research note on Friday, July 26th. Truist Financial increased 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. Royal Bank of Canada lifted their price target on Masco from $78.00 to $79.00 and gave the company an "outperform" rating in a research report on Friday, July 26th. Jefferies Financial Group increased their price objective on Masco from $83.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, July 17th. Finally, BMO Capital Markets boosted their target price on shares of Masco from $75.00 to $78.00 and gave the company a "market perform" rating in a report on Wednesday, July 31st. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $77.58.

Insider Buying and Selling at Masco

In other Masco news, VP Kenneth G. Cole sold 37,814 shares of the company's 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 directly owns 36,980 shares in the company, valued at $2,896,273.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

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.

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