Verition Fund Management LLC Has $8.79 Million Position in Masco Co. (NYSE:MAS)

Verition Fund Management LLC raised its position in Masco Co. (NYSE:MAS) by 17.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,766 shares of the construction company’s stock after buying an additional 15,282 shares during the quarter. Verition Fund Management LLC’s holdings in Masco were worth $8,794,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in shares of Masco in the second quarter valued at approximately $25,000. Family Firm Inc. acquired a new position in Masco in the 2nd quarter valued at $30,000. Massmutual Trust Co. FSB ADV raised its holdings in Masco by 46.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the construction company’s stock valued at $38,000 after acquiring an additional 179 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Masco during the 3rd quarter worth $38,000. Finally, LRI Investments LLC increased its position in shares of Masco by 850.8% in the second quarter. LRI Investments LLC now owns 599 shares of the construction company’s stock worth $40,000 after purchasing an additional 536 shares during the period. Institutional investors own 93.91% of the company’s stock.

Insider Buying and Selling at Masco

In other Masco news, VP Kenneth G. Cole sold 37,814 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $78.32, for a total transaction of $2,961,592.48. Following the sale, the vice president now owns 36,980 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

Masco Stock Performance

Masco stock opened at $80.56 on Monday. The business has a 50 day moving average of $81.66 and a 200-day moving average of $75.79. The company has a debt-to-equity ratio of 20.74, a current ratio of 1.83 and a quick ratio of 1.21. Masco Co. has a 1 year low of $59.72 and a 1 year high of $86.70. The company has a market capitalization of $17.38 billion, a P/E ratio of 21.43, a P/E/G ratio of 2.61 and a beta of 1.24.

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

Masco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Friday, November 8th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend was Friday, November 8th. Masco’s payout ratio is presently 30.85%.

Analyst Ratings Changes

Several research firms recently weighed in on MAS. BMO Capital Markets upped their price objective on shares of Masco from $78.00 to $85.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Truist Financial increased their price target on shares of Masco from $84.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Royal Bank of Canada downgraded shares of Masco from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from $79.00 to $80.00 in a research report on Wednesday, October 30th. Barclays raised their target price on Masco from $92.00 to $93.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, UBS Group boosted their price target on Masco from $89.00 to $94.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $85.96.

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.