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Charter Oak Capital Management LLC Takes $28,000 Position in Masco Co. (NYSE:MAS)

Defense World · Oct 4, 2022 06:33

Charter Oak Capital Management LLC purchased a new stake in shares of Masco Co. (NYSE:MAS – Get Rating) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 548 shares of the construction company's stock, valued at approximately $28,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Wealthfront Advisers LLC raised its stake in shares of Masco by 27.7% during the second quarter. Wealthfront Advisers LLC now owns 43,921 shares of the construction company's stock valued at $2,222,000 after purchasing an additional 9,535 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Masco by 24.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 57,760 shares of the construction company's stock worth $2,922,000 after buying an additional 11,194 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in Masco by 16.6% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 22,116 shares of the construction company's stock worth $1,119,000 after buying an additional 3,148 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its holdings in Masco by 14.4% during the 2nd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 62,902 shares of the construction company's stock worth $3,183,000 after buying an additional 7,907 shares during the period. Finally, Foster Victor Wealth Advisors LLC raised its holdings in Masco by 11.9% during the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 128,507 shares of the construction company's stock worth $6,735,000 after buying an additional 13,616 shares during the period. 92.59% of the stock is currently owned by institutional investors.

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Insider Buying and Selling

In related news, CEO Keith J. Allman sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $52.02, for a total value of $520,200.00. Following the completion of the sale, the chief executive officer now directly owns 288,295 shares in the company, valued at approximately $14,997,105.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on MAS shares. JPMorgan Chase & Co. cut their price objective on Masco from $58.00 to $54.00 in a report on Friday, July 15th. UBS Group cut their price objective on Masco from $81.00 to $76.00 and set a "buy" rating on the stock in a report on Friday, July 29th. Wells Fargo & Company lifted their target price on Masco from $60.00 to $62.00 and gave the company an "overweight" rating in a research note on Monday, August 1st. Barclays lowered their target price on Masco from $68.00 to $66.00 and set an "overweight" rating on the stock in a research note on Thursday, July 14th. Finally, StockNews.com raised Masco from a "hold" rating to a "buy" rating in a research note on Monday, September 12th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $63.93.

Masco Stock Performance

Shares of NYSE MAS opened at $48.53 on Tuesday. The stock has a market cap of $10.94 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 0.96 and a beta of 1.21. The business has a 50 day simple moving average of $51.45 and a 200 day simple moving average of $52.50. Masco Co. has a 52 week low of $45.27 and a 52 week high of $71.06.

Masco (NYSE:MAS – Get Rating) last posted its earnings results on Thursday, July 28th. The construction company reported $1.14 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter last year, the firm posted $1.14 earnings per share. The firm's revenue for the quarter was up 7.9% compared to the same quarter last year. On average, analysts predict that Masco Co. will post 4.17 EPS for the current year.

Masco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 29th. Investors of record on Friday, August 12th were issued a $0.28 dividend. The ex-dividend date was Thursday, August 11th. This represents a $1.12 annualized dividend and a yield of 2.31%. Masco's dividend payout ratio (DPR) is currently 31.11%.

Masco Company Profile

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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.