Empower Advisory Group LLC, a financial consulting firm, recently acquired a new stake in Masco Co. (NYSE: MAS) during the first quarter of this year. According to the company’s latest filing with the Securities and Exchange Commission (SEC), Empower Advisory Group LLC purchased 914,607 shares of Masco’s stock, valued at approximately $45,648,000. This acquisition represented about 0.41% ownership of Masco as indicated in their most recent SEC filing.
In light of this development, several equities analysts have expressed their opinions on the stock. StockNews.com downgraded Masco from a “buy” rating to a “hold” rating in a report issued on September 7th. Conversely, Royal Bank of Canada raised their target price from $59.00 to $68.00 and awarded Masco an “outperform” rating on July 28th. Barclays also increased its target price from $66.00 to $74.00 in another report released on the same day. Furthermore, Argus adjusted their target price from $70.00 to $72.00 and assigned Masco a “buy” rating in a report published on July 31st. Lastly, Bank of America raised the price target for Masco from $57.00 to $59.00 according to their research note dated July 28th.
These assessments resulted in two sell ratings, three hold ratings, and eight buy ratings given by various research analysts for the stock of Masco Co. Bloomberg.com reported that the consensus rating for Masco is currently categorized as “Hold.” As per Bloomberg’s analysis, the average price target stands at approximately $62.58.
On September 14th, MAS was trading at an opening price of $55.48 per share. The company also has a 50-day moving average of $58.56 and a 200-day moving average of $54.22. Masco has a market capitalization of $12.49 billion and its stock is trading at a price-to-earnings (P/E) ratio of 15.67. The company’s PEG ratio, which factors in earnings growth, stands at approximately 2.84, while its beta is reported as 1.23.
Masco Co.’s stock has experienced notable fluctuations over the past year, with a low of $42.33 and a high of $63.85 within this period. The company maintains a debt-to-equity ratio of 420.86, indicating a significant reliance on borrowed funds to finance operations both in the short and long term. Additionally, Masco demonstrates solid liquidity with a quick ratio of 1.07 and a current ratio of 1.72.
As for future prospects, investors and analysts will continue to monitor developments in the construction industry to assess potential impacts on Masco Co.’s performance going forward.
Please note that the information presented above is based on available data up until September 14, 2023, and subsequent events may have influenced the current state of affairs for Masco Co.
Significant Changes in Holdings and Executive Transactions at Masco: A Closer Look at Financial Trends and Market Conditions
Amidst the ever-changing landscape of the financial market, hedge funds and institutional investors have been making significant changes to their positions in various companies. Masco (NYSE: MAS), a prominent construction company, has recently witnessed several alterations in its holdings by various investment firms. Moneta Group Investment Advisors LLC boosted its holdings in Masco by an astonishing 118,819.3% during the 4th quarter, now owning 6,978,187 shares with a total value of $325,672,000. Harris Associates L P also increased their stake in Masco by 55.7%, amassing 8,395,119 shares valued at $391,800,000.
Moreover, Manning & Napier Group LLC acquired a new position in Masco during the 1st quarter with a valuation of $74,497,000. Norges Bank followed suit and acquired a new position worth $69,716,000 during the 4th quarter while Balyasny Asset Management L.P. purchased shares valued at $44,883.
It is surprising to note that institutional investors and hedge funds currently hold approximately 91.67% of the company’s stock.
Furthermore, there have been recent transactions involving key executives at Masco. Vice President Renee Straber sold 41,200 shares of the stock on Friday, July 28th for an average price of $61.13 per share. The total transaction amounted to $2,518,556.00. Following this sale, Straber now holds 31,995 shares valued at $1,9557-854.
In another notable move within the company’s hierarchy structure; CEO Keith J. Allman sold 188040 shares on Thursday July 13th for an average price of $59.77 per share. As a result of this substantial sale; Allman currently holds approximately200305shares with an estimated valuation over $11,972,229.85.
These transactions by insiders should not be overlooked as they indicate significant decisions being made with regard to the company’s future prospects. Currently, 1.50% of Masco’s company stock is held by insiders.
Recently, several equities analysts have weighed in on Masco’s stock. StockNews.com lowered its rating from “buy” to “hold” on Thursday, September 7th. On the other hand, Royal Bank of Canada raised their target price from $59.00 to $68.00 and maintained an “outperform” rating for the company. Similarly, Barclays also lifted their target price from $66.00 to $74.00 while Argus set a target of$72.00 for Masco and gave it a “buy” rating.
Bank of America analysts moved the needle as well; raising their price target from $57.00 to $59.00 in recent research notes regarding Masco’s stock.
In totality there have been two sell ratings given to the stock by research analysts and three hold ratings assigned while eight different entities have given a buy rating to the stock according to Bloomberg.com which considers these factors when determining its consensus rating known as “Hold.”
On July 27th, Masco released its earnings results for the quarter ending that month in which it reported an earnings per share (EPS) of $1.19 – beating consensus estimates by a staggering $0.-3 per share or nearly+24%. This success was complemented by revenue figures totaling roughly$2Ibillion;over expectations of approximately.$2 bOllion – thus continuing a stretch forthe year with respect toboth EPS-and revenue that exceeds forecasts.
Masco displayed an impressive net margin of 9.:ZZ%, demonstrating astute financial management throughout that period; although trailing revenues clearly showed a declineof9E%. Throughout this same quarter during the previous year, Masco earned revenue totaling $1.14 per share.
Analysts are now eagerly looking ahead to Masco’s upcoming fiscal year and expect the company to post a 3.6%EPS latency in coming.Currently, this construction businesshas a negative return on equity equaling 403.37%/
Adding to recent developments, Masco announced that it would be paying its shareholders a quarterly dividend which took place on Monday, August 28th. Stockholders of record on Friday, August 11th received an impressivedividendof $0.285 per share which equates to a solid annualized dividend yield of approximately2.05%.
Investors should also bear in mind that Tuesday the 10th of August served as the stock’s ex-dividend date for this paymentwhich clearly echoes positive sentiment from within MaSCO’S executive ranks when considering their./recent movements (reported above).
As we look into the future of Masco’s stock performance, market analysts continue to assess its potential amid shifting financial trends and volatile market conditions.
The information provided in this article is current as of September 14, 2023, but investors are advised to stay updated with further developments regarding both Masco and the wider financial market as they may influence investment decisions.