Aigen Investment Management LP Makes New Investment in Masco Co. (NYSE:MAS)

Aigen Investment Management LP purchased a new stake in shares of Masco Co. (NYSE:MAS) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,871 shares of the construction company’s stock, valued at approximately $241,000.

Other institutional investors also recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Masco by 14.3% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 542,096 shares of the construction company’s stock valued at $42,245,000 after purchasing an additional 67,806 shares during the period. Manning & Napier Advisors LLC bought a new stake in shares of Masco in the second quarter valued at approximately $82,363,000. Vanguard Group Inc. grew its stake in shares of Masco by 2.8% in the first quarter. Vanguard Group Inc. now owns 26,300,591 shares of the construction company’s stock worth $2,074,591,000 after acquiring an additional 721,117 shares during the last quarter. Boston Trust Walden Corp increased its position in Masco by 28.3% during the second quarter. Boston Trust Walden Corp now owns 467,897 shares of the construction company’s stock worth $31,195,000 after acquiring an additional 103,310 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its stake in Masco by 12.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 210,512 shares of the construction company’s stock valued at $16,600,000 after purchasing an additional 22,540 shares during the last quarter. Institutional investors own 93.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Barclays raised their price target on shares of Masco from $92.00 to $93.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. StockNews.com lowered Masco from a “buy” rating to a “hold” rating in a research note on Friday. Truist Financial raised their price objective on Masco from $84.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Evercore ISI boosted their price objective on Masco from $78.00 to $82.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Finally, UBS Group raised their target price on Masco from $89.00 to $94.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $85.96.

Masco Stock Performance

NYSE MAS opened at $78.42 on Friday. The firm has a market cap of $16.92 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 2.57 and a beta of 1.24. The company has a current ratio of 1.83, a quick ratio of 1.21 and a debt-to-equity ratio of 20.74. Masco Co. has a 1-year low of $58.89 and a 1-year high of $86.70. The company has a 50 day moving average of $81.86 and a 200-day moving average of $75.19.

Masco (NYSE:MAS) last posted its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.08 EPS for the quarter, hitting analysts’ consensus estimates of $1.08. Masco had a return on equity of 615.54% and a net margin of 10.54%. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $2 billion. During the same quarter in the previous year, the firm earned $1.00 earnings per share. The business’s revenue was up .2% on a year-over-year basis. On average, equities analysts forecast that Masco Co. will post 4.09 earnings per share for the current fiscal year.

Masco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Friday, November 8th. Masco’s dividend payout ratio is presently 30.85%.

Insider Transactions at Masco

In other news, VP Kenneth G. Cole sold 37,814 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $78.32, for a total transaction of $2,961,592.48. Following the transaction, the vice president now owns 36,980 shares of the company’s stock, valued at $2,896,273.60. This represents a 50.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is owned by company insiders.

About Masco

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.