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Rovin Capital UT ADV Acquires 5,028 Shares of Masco Co. (NYSE:MAS)

Financial News Live · Oct 1, 2022 13:01

Rovin Capital UT ADV boosted its position in shares of Masco Co. (NYSE:MAS – Get Rating) by 108.6% in the second quarter, Holdings Channel reports. The fund owned 9,658 shares of the construction company's stock after purchasing an additional 5,028 shares during the quarter. Rovin Capital UT ADV's holdings in Masco were worth $489,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the company. Prospera Financial Services Inc bought a new position in shares of Masco in the first quarter worth about $25,000. Charter Oak Capital Management LLC purchased a new stake in shares of Masco in the second quarter worth approximately $28,000. GHP Investment Advisors Inc. purchased a new stake in shares of Masco in the first quarter worth approximately $55,000. Tobam raised its holdings in shares of Masco by 26.9% in the first quarter. Tobam now owns 1,129 shares of the construction company's stock worth $58,000 after buying an additional 239 shares during the period. Finally, Allworth Financial LP raised its holdings in shares of Masco by 153.5% in the second quarter. Allworth Financial LP now owns 1,146 shares of the construction company's stock worth $58,000 after buying an additional 694 shares during the period. Hedge funds and other institutional investors own 92.59% of the company's stock.

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Insiders Place Their Bets

In other Masco news, CEO Keith J. Allman sold 10,000 shares of the firm's stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $52.02, for a total transaction of $520,200.00. Following the transaction, the chief executive officer now owns 288,295 shares of the company's stock, valued at $14,997,105.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.20% of the company's stock.

Wall Street Analysts Forecast Growth

MAS has been the topic of several research reports. Barclays reduced their price objective on Masco from $68.00 to $66.00 and set an "overweight" rating on the stock in a report on Thursday, July 14th. Wells Fargo & Company lifted their price target on Masco from $60.00 to $62.00 and gave the stock an "overweight" rating in a research report on Monday, August 1st. BMO Capital Markets cut their price target on Masco from $68.00 to $60.00 in a research note on Monday, August 1st. JPMorgan Chase & Co. cut their price objective on Masco from $58.00 to $54.00 in a research note on Friday, July 15th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Masco in a research note on Wednesday, August 17th. They set a "hold" rating and a $61.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $63.93.

Masco Stock Down 1.2 %

Shares of Masco stock traded down $0.59 during trading hours on Friday, reaching $46.69. 2,564,552 shares of the company were exchanged, compared to its average volume of 1,925,092. Masco Co. has a 1 year low of $45.27 and a 1 year high of $71.06. The stock's fifty day moving average is $51.59 and its 200 day moving average is $52.61. The company has a debt-to-equity ratio of 52.66, a quick ratio of 0.81 and a current ratio of 1.36. The firm has a market cap of $10.53 billion, a PE ratio of 12.97, a PEG ratio of 0.98 and a beta of 1.23.

Masco (NYSE:MAS – Get Rating) last posted its quarterly earnings data on Thursday, July 28th. The construction company reported $1.14 earnings per share for the quarter, missing analysts' consensus estimates of $1.19 by ($0.05). Masco had a negative return on equity of 686.15% and a net margin of 9.83%. The company had revenue of $2.35 billion for the quarter, compared to analysts' expectations of $2.36 billion. During the same period in the prior year, the company posted $1.14 EPS. The firm's revenue was up 7.9% compared to the same quarter last year. As a group, equities research analysts forecast that Masco Co. will post 4.17 earnings per share for the current year.

Masco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 29th. Shareholders of record on Friday, August 12th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Thursday, August 11th. Masco's payout ratio is 31.11%.

About Masco

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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.