Millburn Ridgefield Corp Makes New Investment in Masco Co. (NYSE:MAS)

Millburn Ridgefield Corp acquired a new stake in Masco Co. (NYSE:MAS) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 3,081 shares of the construction company’s stock, valued at approximately $259,000.

A number of other large investors have also made changes to their positions in MAS. Manning & Napier Advisors LLC acquired a new position in Masco in the 2nd quarter valued at about $82,363,000. Assenagon Asset Management S.A. raised its position in shares of Masco by 956.3% in the third quarter. Assenagon Asset Management S.A. now owns 989,640 shares of the construction company’s stock valued at $83,070,000 after buying an additional 895,950 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Masco by 66.5% during the second 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 during the period. Bank of Montreal Can boosted its position in Masco by 86.5% during the second quarter. Bank of Montreal Can now owns 634,740 shares of the construction company’s stock worth $42,318,000 after acquiring an additional 294,409 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in shares of Masco by 89.5% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 579,597 shares of the construction company’s stock worth $38,642,000 after purchasing an additional 273,718 shares during the period. Institutional investors and hedge funds own 93.91% of the company’s stock.

Insider Buying and Selling

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 transaction, the vice president now owns 36,980 shares of the company’s stock, valued at approximately $2,896,273.60. This trade represents a 50.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on MAS shares. Truist Financial lifted their price objective on Masco from $84.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company lifted their price target on Masco from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Barclays raised their target price on shares of Masco from $92.00 to $93.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Evercore ISI upped their price target on shares of Masco from $78.00 to $82.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Finally, UBS Group lifted their price target on shares of Masco from $89.00 to $94.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $85.96.

Masco Price Performance

MAS stock opened at $80.73 on Wednesday. The stock has a 50-day simple moving average of $81.62 and a 200-day simple moving average of $75.89. The firm has a market cap of $17.42 billion, a P/E ratio of 21.47, a price-to-earnings-growth ratio of 2.61 and a beta of 1.23. The company has a debt-to-equity ratio of 20.74, a quick ratio of 1.21 and a current ratio of 1.83. Masco Co. has a 1 year low of $61.82 and a 1 year high of $86.70.

Masco (NYSE:MAS) last announced its earnings results on Tuesday, October 29th. The construction company reported $1.08 earnings per share for the quarter, meeting the consensus estimate of $1.08. Masco had a return on equity of 615.54% and a net margin of 10.54%. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $2 billion. During the same period last year, the firm earned $1.00 earnings per share. The company’s revenue was up .2% on a year-over-year basis. On average, equities analysts predict that Masco Co. will post 4.09 earnings per share for the current fiscal year.

Masco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Friday, November 8th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date was Friday, November 8th. Masco’s payout ratio is currently 30.85%.

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.