SEB Asset Management AB Buys Shares of 53,937 Masco Corporation $MAS

SEB Asset Management AB bought a new position in Masco Corporation (NYSE:MAS) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 53,937 shares of the construction company’s stock, valued at approximately $3,256,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Masco during the fourth quarter valued at $194,818,000. Wellington Management Group LLP purchased a new position in Masco in the 3rd quarter worth about $192,948,000. Jacobs Levy Equity Management Inc. lifted its stake in Masco by 443.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,330,523 shares of the construction company’s stock valued at $164,046,000 after acquiring an additional 1,901,815 shares during the period. Barclays PLC boosted its holdings in shares of Masco by 234.5% during the 4th quarter. Barclays PLC now owns 1,624,841 shares of the construction company’s stock valued at $103,112,000 after acquiring an additional 1,139,098 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Masco by 19.2% in the fourth quarter. JPMorgan Chase & Co. now owns 6,063,286 shares of the construction company’s stock worth $384,776,000 after acquiring an additional 977,684 shares during the period. 93.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MAS has been the subject of several research reports. The Goldman Sachs Group boosted their price objective on shares of Masco from $79.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Bank of America cut their target price on shares of Masco from $69.00 to $61.00 and set an “underperform” rating for the company in a research report on Monday, April 20th. BMO Capital Markets decreased their target price on shares of Masco from $77.00 to $75.00 and set a “market perform” rating for the company in a research note on Monday, April 20th. Robert W. Baird increased their price target on Masco from $72.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Masco from $74.00 to $78.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Masco currently has a consensus rating of “Hold” and a consensus price target of $80.67.

Masco Price Performance

Shares of Masco stock opened at $77.39 on Friday. The stock has a market cap of $15.61 billion, a P/E ratio of 19.20, a P/E/G ratio of 1.92 and a beta of 1.29. The company has a debt-to-equity ratio of 109.07, a quick ratio of 1.11 and a current ratio of 1.75. The stock’s fifty day moving average is $74.12 and its 200 day moving average is $69.95. Masco Corporation has a one year low of $58.16 and a one year high of $83.21.

Masco (NYSE:MAS) last released its quarterly earnings results on Wednesday, April 22nd. The construction company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.16. The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $2.07 billion. Masco had a return on equity of 815.20% and a net margin of 10.90%.Masco’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.87 earnings per share. Sell-side analysts anticipate that Masco Corporation will post 4.25 earnings per share for the current year.

Masco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Friday, May 22nd were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, May 22nd. Masco’s payout ratio is presently 31.76%.

Masco announced that its board has initiated a stock buyback program on Thursday, May 7th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the construction company to purchase up to 2.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

About Masco

Masco Corporation is a global leader in the design, manufacture and distribution of branded home improvement and building products. Founded in 1929 and headquartered in Livonia, Michigan, the company has evolved from a small door?bell manufacturer into a diversified enterprise serving both residential and commercial markets. Over its history, Masco has grown through a combination of organic innovation and strategic acquisitions, building a portfolio of well-recognized brands.

The company’s product offerings are organized into two primary segments.