Grimes & Company Inc. Purchases New Position in Masco Co. (NYSE:MAS)

Grimes & Company Inc. acquired a new position in Masco Co. (NYSE:MAS) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,605 shares of the construction company’s stock, valued at approximately $219,000.

Several other institutional investors also recently bought and sold shares of MAS. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Masco by 14.3% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 542,096 shares of the construction company’s stock worth $42,245,000 after purchasing an additional 67,806 shares during the period. Quantbot Technologies LP purchased a new stake in Masco during the first quarter worth $1,903,000. Manning & Napier Advisors LLC bought a new stake in Masco during the 2nd quarter valued at $82,363,000. Vanguard Group Inc. increased its holdings in shares of 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 acquiring an additional 721,117 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Masco by 119.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 290,123 shares of the construction company’s stock worth $22,885,000 after acquiring an additional 157,711 shares in the last quarter. 93.91% of the stock is currently owned by hedge funds and other institutional investors.

Masco Trading Down 2.0 %

Masco stock opened at $81.26 on Friday. Masco Co. has a 52 week low of $49.24 and a 52 week high of $86.70. The stock has a 50-day moving average price of $81.33 and a 200 day moving average price of $74.31. The company has a quick ratio of 1.12, a current ratio of 1.76 and a debt-to-equity ratio of 16.18. The company has a market capitalization of $17.73 billion, a price-to-earnings ratio of 19.87, a price-to-earnings-growth ratio of 2.78 and a beta of 1.24.

Masco (NYSE:MAS) last released its quarterly earnings data on Thursday, July 25th. The construction company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.18 by $0.02. Masco had a net margin of 11.59% and a return on equity of 602.39%. The business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same period in the prior year, the firm earned $1.19 EPS. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. Sell-side analysts anticipate that Masco Co. will post 4.1 EPS for the current year.

Insider Buying and Selling at Masco

In other Masco 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 transaction of $2,961,592.48. Following the completion of the transaction, the vice president now 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MAS. StockNews.com upgraded Masco from a “hold” rating to a “buy” rating in a research note on Monday, October 21st. Citigroup reduced their price objective 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. Jefferies Financial Group raised their target price on shares of Masco from $89.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Truist Financial upped their price target on Masco from $81.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Barclays raised their price objective on Masco from $88.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Masco has a consensus rating of “Moderate Buy” and a consensus price target of $81.75.

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.