SpiderRock Advisors LLC Buys Shares of 3,632 Masco Co. (NYSE:MAS)

SpiderRock Advisors LLC purchased a new position in Masco Co. (NYSE:MAS) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,632 shares of the construction company’s stock, valued at approximately $268,000.

A number of other institutional investors have also made changes to their positions in MAS. Concord Wealth Partners lifted its holdings in Masco by 103.0% in the first quarter. Concord Wealth Partners now owns 5,524 shares of the construction company’s stock worth $436,000 after acquiring an additional 2,803 shares during the last quarter. Perigon Wealth Management LLC acquired a new stake in shares of Masco in the 1st quarter worth about $256,000. SkyOak Wealth LLC bought a new stake in Masco in the 1st quarter valued at about $221,000. Renaissance Investment Group LLC acquired a new position in Masco during the 1st quarter valued at about $205,000. Finally, Greenleaf Trust grew its position in Masco by 8.1% in the 1st quarter. Greenleaf Trust now owns 13,083 shares of the construction company’s stock worth $1,032,000 after purchasing an additional 982 shares during the last quarter. 93.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MAS shares. Citigroup boosted their price objective on Masco from $74.00 to $79.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Royal Bank of Canada increased their target price on shares of Masco from $79.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. StockNews.com cut shares of Masco from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Evercore ISI reduced their price target on shares of Masco from $75.00 to $74.00 and set an “in-line” rating for the company in a research note on Thursday, April 25th. Finally, Loop Capital lowered their price objective on shares of Masco from $79.00 to $76.00 and set a “hold” rating on the stock in a research note on Thursday, April 25th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $72.15.

Masco Trading Down 1.0 %

Shares of NYSE:MAS traded down $0.63 during midday trading on Friday, reaching $64.15. The company had a trading volume of 659,443 shares, compared to its average volume of 1,917,118. The company has a fifty day simple moving average of $68.62 and a two-hundred day simple moving average of $70.78. The firm has a market cap of $14.13 billion, a price-to-earnings ratio of 15.73, a price-to-earnings-growth ratio of 1.70 and a beta of 1.24. Masco Co. has a 1-year low of $47.66 and a 1-year high of $78.94. The company has a debt-to-equity ratio of 18.76, a quick ratio of 1.09 and a current ratio of 1.74.

Masco (NYSE:MAS) last released its earnings results on Wednesday, April 24th. The construction company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.06. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.94 billion. Masco had a net margin of 11.60% and a return on equity of 865.37%. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.87 earnings per share. Research analysts predict that Masco Co. will post 4.11 earnings per share for the current year.

Masco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 24th were issued a $0.29 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.81%. Masco’s payout ratio is currently 28.43%.

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.