Bank of New York Mellon Corp Buys 261,685 Shares of Masco Corporation $MAS

Bank of New York Mellon Corp boosted its position in shares of Masco Corporation (NYSE:MAS) by 13.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,181,977 shares of the construction company’s stock after purchasing an additional 261,685 shares during the quarter. Bank of New York Mellon Corp’s holdings in Masco were worth $153,589,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in MAS. Elevation Point Wealth Partners LLC purchased a new stake in shares of Masco in the 2nd quarter worth approximately $28,000. Headlands Technologies LLC increased its holdings in Masco by 114.5% during the second quarter. Headlands Technologies LLC now owns 549 shares of the construction company’s stock valued at $35,000 after buying an additional 293 shares during the period. CYBER HORNET ETFs LLC bought a new position in Masco in the second quarter worth approximately $37,000. Caldwell Trust Co purchased a new stake in Masco during the second quarter worth $37,000. Finally, MUFG Securities EMEA plc purchased a new stake in Masco during the second quarter worth $40,000. 93.91% of the stock is currently owned by hedge funds and other institutional investors.

Masco Trading Down 0.4%

Shares of NYSE:MAS opened at $66.05 on Friday. Masco Corporation has a 52-week low of $56.55 and a 52-week high of $80.71. The stock has a market cap of $13.72 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 2.69 and a beta of 1.28. The company has a quick ratio of 1.20, a current ratio of 1.88 and a debt-to-equity ratio of 17.53. The business has a 50-day moving average price of $65.72 and a 200-day moving average price of $67.76.

Masco (NYSE:MAS) last released its quarterly earnings data on Wednesday, October 29th. The construction company reported $0.97 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.05). Masco had a net margin of 10.89% and a return on equity of 1,317.38%. The business had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the company earned $1.08 earnings per share. The firm’s revenue was down 3.3% on a year-over-year basis. Equities analysts predict that Masco Corporation will post 4.34 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on MAS. Citigroup reduced their price target on Masco from $72.00 to $71.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. Vertical Research started coverage on Masco in a research note on Monday, October 20th. They issued a “hold” rating on the stock. Zacks Research downgraded shares of Masco from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Weiss Ratings restated a “hold (c+)” rating on shares of Masco in a report on Thursday, January 22nd. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $67.00 price objective on shares of Masco in a research report on Friday, January 9th. Six investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $73.20.

Masco Profile

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.