VELA Investment Management LLC Invests $648,000 in Masco Co. (NYSE:MAS)

VELA Investment Management LLC purchased a new position in Masco Co. (NYSE:MAS - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,720 shares of the construction company's stock, valued at approximately $648,000.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Masco by 2.8% in 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 during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Masco by 1.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 9,830,723 shares of the construction company's stock valued at $655,414,000 after purchasing an additional 181,515 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Masco by 0.3% in the second quarter. Van ECK Associates Corp now owns 2,924,621 shares of the construction company's stock worth $194,985,000 after purchasing an additional 9,094 shares during the period. Impax Asset Management Group plc lifted its position in shares of Masco by 10.0% during the 2nd quarter. Impax Asset Management Group plc now owns 2,855,056 shares of the construction company's stock worth $190,347,000 after purchasing an additional 259,205 shares during the last quarter. Finally, Earnest Partners LLC boosted its stake in Masco by 16.6% during the 1st quarter. Earnest Partners LLC now owns 2,245,644 shares of the construction company's stock valued at $177,136,000 after purchasing an additional 319,029 shares during the period. Institutional investors own 93.91% of the company's stock.

Insider Transactions at Masco

In other Masco news, VP Kenneth G. Cole sold 37,814 shares of the stock in a transaction on 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 transaction, the vice president now directly owns 36,980 shares in the company, valued at approximately $2,896,273.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by company insiders.

Masco Price Performance

Shares of NYSE MAS traded up $0.27 during mid-day trading on Friday, hitting $80.18. 984,078 shares of the stock were exchanged, compared to its average volume of 1,487,033. Masco Co. has a twelve month low of $53.44 and a twelve month high of $86.70. The stock's fifty day simple moving average is $81.60 and its two-hundred day simple moving average is $74.53. The company has a debt-to-equity ratio of 20.74, a quick ratio of 1.12 and a current ratio of 1.83. The company has a market cap of $17.30 billion, a P/E ratio of 21.32, a PEG ratio of 2.58 and a beta of 1.24.

Masco (NYSE:MAS - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.08 earnings per share for the quarter, meeting analysts' consensus estimates of $1.08. The firm had revenue of $1.98 billion during the quarter, compared to analysts' expectations of $2 billion. Masco had a return on equity of 615.54% and a net margin of 10.54%. The business's revenue was up .2% on a year-over-year basis. During the same period last year, the firm posted $1.00 EPS. As a group, analysts forecast that Masco Co. will post 4.1 EPS for the current fiscal year.

Masco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Friday, November 8th. Masco's dividend payout ratio is presently 30.85%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. BMO Capital Markets upped their price target on Masco from $78.00 to $85.00 and gave the stock a "market perform" rating in a report on Tuesday, October 22nd. Jefferies Financial Group increased their price target on shares of Masco from $89.00 to $96.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Truist Financial boosted their price objective on shares of Masco from $84.00 to $92.00 and gave the stock a "buy" rating in a report on Wednesday. Citigroup reduced their target price on shares of Masco from $73.00 to $66.00 and set a "neutral" rating for the company in a research note on Thursday, July 11th. Finally, UBS Group upped their price target on Masco from $89.00 to $94.00 and gave the company a "buy" rating in a report on Wednesday. Eight 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, the stock presently has a consensus rating of "Hold" and a consensus price target of $84.85.

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.