August 20, 2023 – Burney Co., a financial investment firm, recently reduced its holdings in construction company Masco Co. by 59.4% during the first quarter, according to a disclosure with the U.S. Securities and Exchange Commission (SEC). The fund sold 92,913 shares of Masco’s stock, resulting in ownership of 63,621 shares. Based on the most recent SEC filing, Burney Co.’s stake in Masco was valued at $3,163,000.
Masco is a publicly traded company listed on the New York Stock Exchange under the ticker symbol MAS. It specializes in the manufacturing and distribution of home improvement and building products. As of July 27th, when the company reported its quarterly earnings data, Masco exceeded analysts’ consensus estimates by reporting earnings per share of $1.19 for the quarter. This figure surpassed expectations by $0.23.
Despite encountering challenges within its industry, such as a negative return on equity and a decline in revenue compared to the previous year’s quarter (-9.6%), Masco demonstrated a net margin of 9.73%. The firm generated $2.13 billion in revenue for the quarter, surpassing analyst estimates of $2.08 billion.
By showcasing resilience amidst difficulties faced by other firms, Masco has positioned itself as a promising investment opportunity for individuals interested in the construction sector.
Analysts predict that Masco will achieve earnings per share of 3.6 for this fiscal year based on current trends and performance data.
It is crucial to note that financial dynamics can rapidly evolve within any industry or organization; therefore, investors should exercise diligence in regularly tracking updates and conducting comprehensive analysis before making any investment decisions.
As always, it is essential to consult with professional financial advisors or conduct thorough individual research before engaging in any investment activities to mitigate risks successfully and optimize potential returns.
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Significant Changes in Investor Positions and Insider Activities Drive Interest in Masco Co.
On August 20, 2023, it was reported that several major investors had made significant changes to their positions in Masco Co., a construction company. One such investor, MAI Capital Management, increased its position in Masco by 6.9% during the first quarter, acquiring an additional 546 shares and bringing their total ownership to 8,485 shares valued at $422,000. Similarly, LPL Financial LLC raised its position by 8.8%, adding 8,236 shares during the last quarter and now owning a total of 102,181 shares worth $5,080,000.
Another noteworthy investor was iSAM Funds UK Ltd, which bought a new stake in Masco during the first quarter amounting to approximately $314,000. In addition, Impax Asset Management Group plc raised its position in Masco by 18.0%, acquiring an additional 465,102 shares during the period and now owning a total of 3,043,117 shares valued at $151,304,000. Lastly, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Masco worth $398,000 in the first quarter. It is interesting to note that hedge funds and other institutional investors currently own around 91.60% of Masco’s stock.
The recent performance and potential of Masco has generated much interest among research analysts as well. TheStreet upgraded their rating on Masco from “c+” to “b” on July 27th. Truist Financial raised their price target on Masco from $60.00 to $74.00 and gave the company a “buy” rating on July 28th. Bank of America also increased their price objective from $57.00 to $59.00 for Masco on the same day.
Moreover, Argus gave the company a “buy” rating while raising their price objective from $70.00 to $72.00 on July 31st. Deutsche Bank Aktiengesellschaft also raised their price objective from $56.00 to $57.00 in a research report published on April 27th. Overall, the average rating for Masco on Bloomberg is currently listed as “Moderate Buy,” with a consensus target price of $62.58.
In other news, there have been notable insider activities at Masco recently. CEO Keith J. Allman sold 188,040 shares of the company’s stock on July 13th, with an average price per share of $59.77 for a total value of $11,239,150.80. Following this sale, Allman now holds 200,305 shares valued at approximately $11,972,229.85.
Furthermore, VP Renee Straber sold 41,200 shares of the company’s stock on July 28th at an average price of $61.13 per share for a total value of $2,518,556.00. After this transaction, Straber owns 31,995 shares valued at $1,955,854.35.
It is worth noting that in the last quarter alone, insiders have sold a total of 239,240 shares worth $14,307,207. This equates to around 1.50% of the company’s stock being sold by insiders.
As of August 20th , Masco Co.’s stocks were trading at an opening price of $56.79 on the New York Stock Exchange (NYSE). The company has a market capitalization of approximately $12.78 billion and maintains a P/E ratio of 16:04 and a P/E/G ratio of 2:85 with a beta factor standing at 1:22.
Masco Co.’s financial position appears stable with a current ratio of 1:72 and a quick ratio of 1:07. However, it is important to note that the company has a significantly high debt-to-equity ratio of 420.86.
Over the past year, Masco Co.’s stock has experienced fluctuation with a low of $42.33 and a high of $63.85. Currently, the firm’s fifty day simple moving average stands at $58.15 and its two-hundred day simple moving average at $53.90.
Overall, the recent developments in Masco Co.’s investor positions, research reports, insider activities, and stock performance signal an intriguing period for the construction company. Investors are closely monitoring these indicators to make informed decisions regarding their investments in Masco Co.
