Alberta Investment Management Corp Invests $2.92 Million in Masco Corporation (NYSE:MAS)

Key Points

• Alberta Investment Management Corp has made a new investment in Masco Corporation, acquiring 42,000 shares valued at approximately $2.92 million in the first quarter.
• Masco recently declared a quarterly dividend of $0.31 per share, with a yield of 1.8% and a payout ratio of 33.88%.
• The company's stock currently holds a consensus rating of "Hold" among analysts, with a price target averaging $74.70.

Alberta Investment Management Corp bought a new position in shares of Masco Corporation (NYSE:MAS - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 42,000 shares of the construction company's stock, valued at approximately $2,921,000.

A number of other institutional investors and hedge funds have also modified their holdings of MAS. Wealthquest Corp purchased a new stake in Masco during the 1st quarter valued at about $111,722,000. Foster & Motley Inc. grew its stake in Masco by 57.9% during the 1st quarter. Foster & Motley Inc. now owns 21,225 shares of the construction company's stock valued at $1,476,000 after acquiring an additional 7,779 shares in the last quarter. Seizert Capital Partners LLC grew its stake in Masco by 0.4% during the 1st quarter. Seizert Capital Partners LLC now owns 593,792 shares of the construction company's stock valued at $41,292,000 after acquiring an additional 2,190 shares in the last quarter. XTX Topco Ltd grew its stake in Masco by 104.3% during the 1st quarter. XTX Topco Ltd now owns 16,912 shares of the construction company's stock valued at $1,176,000 after acquiring an additional 8,634 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in Masco during the 1st quarter valued at about $719,000. Hedge funds and other institutional investors own 93.91% of the company's stock.

Masco Stock Performance

Shares of MAS stock opened at $68.99 on Friday. The firm has a market cap of $14.55 billion, a P/E ratio of 18.30, a P/E/G ratio of 2.81 and a beta of 1.16. Masco Corporation has a one year low of $56.55 and a one year high of $86.70. The company has a debt-to-equity ratio of 19.63, a quick ratio of 1.09 and a current ratio of 1.82. The firm's 50 day moving average price is $64.65 and its 200-day moving average price is $68.03.

Masco (NYSE:MAS - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The construction company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.08 by $0.22. Masco had a net margin of 10.51% and a return on equity of 1,519.31%. The company had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $2 billion. During the same quarter last year, the company posted $1.20 EPS. The firm's revenue was down 1.9% compared to the same quarter last year. As a group, equities research analysts predict that Masco Corporation will post 4.34 EPS for the current year.

Masco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Friday, August 8th will be issued a dividend of $0.31 per share. The ex-dividend date is Friday, August 8th. This represents a $1.24 annualized dividend and a yield of 1.8%. Masco's dividend payout ratio is 33.88%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Masco from $65.00 to $73.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 14th. Robert W. Baird cut shares of Masco from an "outperform" rating to a "neutral" rating and set a $70.00 price objective for the company. in a research note on Tuesday, July 22nd. Truist Financial decreased their target price on shares of Masco from $92.00 to $75.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. The Goldman Sachs Group decreased their target price on shares of Masco from $82.00 to $73.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Masco in a report on Wednesday, May 28th. Twelve analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Masco presently has a consensus rating of "Hold" and a consensus price target of $74.70.

Masco Profile

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.

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