CCM Investment Group LLC Purchases Shares of 20,246 Masco Corporation (NYSE:MAS)

CCM Investment Group LLC purchased a new stake in Masco Corporation (NYSE:MAS) during the first quarter, Holdings Channel.com reports. The institutional investor purchased 20,246 shares of the construction company’s stock, valued at approximately $1,390,000.

A number of other institutional investors have also recently made changes to their positions in MAS. Global X Japan Co. Ltd. grew its position in shares of Masco by 120.2% in the 1st quarter. Global X Japan Co. Ltd. now owns 381 shares of the construction company’s stock valued at $26,000 after buying an additional 208 shares during the last quarter. Alpine Bank Wealth Management bought a new stake in shares of Masco during the 1st quarter valued at about $29,000. Costello Asset Management INC bought a new stake in shares of Masco during the 1st quarter valued at about $31,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Masco during the 1st quarter valued at about $33,000. Finally, GeoWealth Management LLC boosted its position in shares of Masco by 89.0% during the 4th quarter. GeoWealth Management LLC now owns 684 shares of the construction company’s stock valued at $50,000 after purchasing an additional 322 shares in the last quarter. Institutional investors own 93.91% of the company’s stock.

Analysts Set New Price Targets

MAS has been the topic of several research analyst reports. Jefferies Financial Group cut their target price on Masco from $64.00 to $62.00 and set a “hold” rating on the stock in a research report on Wednesday, April 23rd. The Goldman Sachs Group cut their target price on Masco from $82.00 to $73.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Oppenheimer set a $79.00 target price on Masco and gave the company an “outperform” rating in a research report on Monday, August 4th. Wall Street Zen upgraded Masco from a “sell” rating to a “hold” rating in a research report on Saturday, June 21st. Finally, Truist Financial cut their target price on Masco from $92.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Twelve research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $74.13.

Masco Stock Down 0.1%

MAS stock opened at $69.31 on Friday. The stock’s 50 day simple moving average is $65.33 and its 200 day simple moving average is $67.72. Masco Corporation has a fifty-two week low of $56.55 and a fifty-two week high of $86.70. The company has a debt-to-equity ratio of 19.63, a quick ratio of 1.14 and a current ratio of 1.82. The company has a market cap of $14.51 billion, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 2.53 and a beta of 1.16.

Masco (NYSE:MAS) last issued its quarterly earnings data on Thursday, July 31st. The construction company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.08 by $0.22. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2 billion. Masco had a return on equity of 1,519.31% and a net margin of 10.51%. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.20 earnings per share. On average, research analysts expect that Masco Corporation will post 4.34 earnings per share for the current fiscal year.

Masco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Friday, August 8th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $1.24 annualized dividend and a dividend yield of 1.8%. Masco’s dividend payout ratio is 32.89%.

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.