Mirae Asset Global Investments Co. Ltd. Buys 50,138 Shares of Masco Corporation $MAS

Key Points

• Mirae Asset Global Investments opened a position in Masco, buying 50,138 shares worth approximately $3.38 million in the third quarter. Institutional investors collectively own 93.91% of the stock.
• Masco beat quarterly earnings expectations, reporting EPS of $1.19 versus $1.02 forecast and revenue of $1.97 billion, up 2.6% year over year.
• Analysts’ consensus rating is Hold, with an average price target of $81.82. Masco also declared a $0.32 quarterly dividend, equivalent to a 1.6% annual yield.

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Masco Corporation (NYSE:MAS - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 50,138 shares of the construction company's stock, valued at approximately $3,379,000.

A number of other institutional investors have also bought and sold shares of MAS. Latitude Advisors LLC purchased a new stake in shares of Masco in the 3rd quarter valued at approximately $30,000. Bell Investment Advisors Inc purchased a new position in Masco in the second quarter worth approximately $32,000. Pension & Wealth Management Advisors Inc. acquired a new stake in Masco during the third quarter worth $36,000. Johnson Financial Group Inc. acquired a new stake in Masco during the second quarter worth $49,000. Finally, Trust Co. of Vermont purchased a new stake in Masco in the second quarter valued at $53,000. 93.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft set a $74.00 price target on Masco in a research note on Monday, August 3rd. Melius Research assumed coverage on shares of Masco in a report on Tuesday, October 6th. They issued a "hold" rating and a $75.00 price objective on the stock. DA Davidson set a $82.00 price target on shares of Masco in a research report on Thursday, October 29th. Royal Bank Of Canada lifted their target price on shares of Masco from $69.00 to $74.00 and gave the company a "sector perform" rating in a report on Thursday, October 29th. Finally, Argus boosted their target price on Masco from $92.00 to $95.00 and gave the company a "buy" rating in a research report on Thursday. Seven investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $81.82.

Masco Stock Down 1.9%

MAS traded down $1.63 during trading hours on Friday, hitting $82.20. 2,603,119 shares of the company's stock were exchanged, compared to its average volume of 2,336,175. Masco Corporation has a 12-month low of $58.16 and a 12-month high of $87.86. The firm has a 50 day moving average of $72.31 and a 200 day moving average of $71.22. The firm has a market cap of $15.85 billion, a P/E ratio of 17.79, a price-to-earnings-growth ratio of 1.85 and a beta of 1.21. The company has a current ratio of 1.83, a quick ratio of 1.20 and a debt-to-equity ratio of 109.07.

Masco (NYSE:MAS - Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The construction company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.02 by $0.17. The company had revenue of $1.97 billion during the quarter, compared to analysts' expectations of $1.93 billion. Masco had a net margin of 12.07% and a negative return on equity of 1,807.69%. The firm's revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.97 EPS. Analysts predict that Masco Corporation will post 4.72 EPS for the current fiscal year.

Masco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Friday, November 6th will be paid a $0.32 dividend. The ex-dividend date is Friday, November 6th. This represents a $1.28 dividend on an annualized basis and a yield of 1.6%. Masco's payout ratio is currently 27.71%.

Insider Buying and Selling

In other news, VP Kenneth Cole sold 34,470 shares of the company's stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $80.64, for a total transaction of $2,779,660.80. Following the completion of the transaction, the vice president directly owned 39,700 shares of the company's stock, valued at approximately $3,201,408. This represents a 46.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.55% of the stock is owned by company insiders.

About Masco

Masco Corporation NYSE: MAS is a manufacturer of branded home improvement and building products. The company's portfolio includes faucets, showering and bathing products, architectural coatings, decorative hardware and related products sold to residential and commercial customers.

Masco operates through two principal areas: Plumbing Products and Decorative Architectural Products. Its brands include Delta Faucet, Brizo, Hansgrohe, Behr Paint and Kichler Lighting, among others. These products are distributed through home improvement retailers, specialty dealers, distributors and other channels.

Founded in 1929 by Alex Manoogian, Masco is headquartered in Livonia, Michigan, and serves customers primarily in North America and Europe, with products sold in additional international markets.

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