50,138 Shares of Masco Corporation $MAS Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Masco Corporation (NYSE:MAS) in the 3rd quarter, HoldingsChannel reports. The firm acquired 50,138 shares of the construction company’s stock, valued at approximately $3,379,000.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Masco during the second quarter worth about $1,278,943,000. Bank of America Corp DE purchased a new position in shares of Masco in the 2nd quarter valued at about $178,424,000. Bank of New York Mellon Corp acquired a new stake in shares of Masco in the second quarter valued at about $156,668,000. Deutsche Bank AG acquired a new stake in shares of Masco in the second quarter valued at about $149,673,000. Finally, Amundi lifted its stake in shares of Masco by 17.5% in the first quarter. Amundi now owns 2,152,818 shares of the construction company’s stock valued at $129,977,000 after purchasing an additional 320,230 shares during the period. 93.91% of the stock is owned by institutional investors and hedge funds.

Masco Trading Down 1.9%

MAS stock traded down $1.63 during midday trading on Friday, reaching $82.20. 2,603,119 shares of the company’s stock traded hands, compared to its average volume of 2,336,175. Masco Corporation has a fifty-two week low of $58.16 and a fifty-two week high of $87.86. The business has a 50-day moving average price of $72.31 and a two-hundred day moving average price of $71.22. The company has a debt-to-equity ratio of 109.07, a current ratio of 1.83 and a quick ratio of 1.20. The company has a market capitalization of $15.85 billion, a P/E ratio of 17.79, a PEG ratio of 1.85 and a beta of 1.21.

Masco (NYSE:MAS) last announced its earnings results on Wednesday, October 28th. The construction company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.17. Masco had a net margin of 12.07% and a negative return on equity of 1,807.69%. The business had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same period in the prior year, the firm earned $0.97 earnings per share. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities research analysts forecast that Masco Corporation will post 4.72 EPS for the current fiscal year.

Masco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Friday, November 6th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, November 6th. Masco’s dividend payout ratio is presently 27.71%.

Insider Activity at Masco

In other news, VP Kenneth Cole sold 34,470 shares of the firm’s stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $80.64, for a total transaction of $2,779,660.80. Following the completion of the sale, the vice president owned 39,700 shares of the company’s stock, valued at approximately $3,201,408. This trade represents a 46.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

MAS has been the topic of a number of research reports. Melius Research initiated coverage on Masco in a report on Tuesday, October 6th. They issued a “hold” rating and a $75.00 price target on the stock. Bank of America reiterated an “underperform” rating on shares of Masco in a research report on Thursday, October 29th. Truist Financial increased their price objective on shares of Masco from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. Citigroup dropped their target price on shares of Masco from $79.00 to $77.00 and set a “neutral” rating for the company in a report on Friday, July 31st. Finally, Robert W. Baird lifted their target price on shares of Masco from $80.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, October 29th. Seven analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Masco currently has a consensus rating of “Hold” and a consensus price target of $81.82.

Masco Company Profile

Masco Corporation (NYSE: MAS) is a manufacturer of branded home improvement and building products. The company’s portfolio includes faucets, showering and bathing products, architectural coatings, decorative hardware and related products sold to residential and commercial customers.

Masco operates through two principal areas: Plumbing Products and Decorative Architectural Products. Its brands include Delta Faucet, Brizo, Hansgrohe, Behr Paint and Kichler Lighting, among others. These products are distributed through home improvement retailers, specialty dealers, distributors and other channels.

Founded in 1929 by Alex Manoogian, Masco is headquartered in Livonia, Michigan, and serves customers primarily in North America and Europe, with products sold in additional international markets.