Renaissance Technologies LLC Boosts Stake in Masco Corporation $MAS

Renaissance Technologies LLC boosted its stake in Masco Corporation (NYSE:MAS) by 27.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,134,114 shares of the construction company’s stock after purchasing an additional 242,114 shares during the period. Renaissance Technologies LLC’s holdings in Masco were worth $68,466,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bard Associates Inc. purchased a new position in shares of Masco during the fourth quarter worth $25,000. Sunbelt Securities Inc. acquired a new stake in shares of Masco in the third quarter valued at $26,000. Bogart Wealth LLC raised its holdings in shares of Masco by 2,550.0% in the 4th quarter. Bogart Wealth LLC now owns 424 shares of the construction company’s stock valued at $27,000 after buying an additional 408 shares during the period. Headlands Technologies LLC raised its holdings in shares of Masco by 114.5% in the 2nd 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. Finally, CYBER HORNET ETFs LLC acquired a new position in Masco during the 2nd quarter worth about $37,000. Hedge funds and other institutional investors own 93.91% of the company’s stock.

Masco Stock Performance

Shares of MAS stock opened at $79.32 on Monday. The company has a market cap of $16.00 billion, a P/E ratio of 19.68, a PEG ratio of 1.95 and a beta of 1.29. The firm has a fifty day moving average price of $74.41 and a 200 day moving average price of $70.06. The company has a current ratio of 1.75, a quick ratio of 1.11 and a debt-to-equity ratio of 109.07. Masco Corporation has a 12 month low of $58.16 and a 12 month high of $83.21.

Masco declared that its board has approved a share repurchase plan on Thursday, May 7th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 2.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Masco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Friday, May 22nd were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Friday, May 22nd. Masco’s payout ratio is 31.76%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. UBS Group raised their target price on Masco from $96.00 to $97.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Royal Bank Of Canada increased their price target on shares of Masco from $67.00 to $72.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 23rd. Citigroup lowered their price objective on shares of Masco from $84.00 to $79.00 and set a “neutral” rating for the company in a research note on Thursday, April 23rd. Truist Financial lifted their price objective on shares of Masco from $85.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Finally, BMO Capital Markets cut their target price on shares of Masco from $77.00 to $75.00 and set a “market perform” rating on the stock in a research note on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, eight have given 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 an average price target of $80.67.

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.