OMERS ADMINISTRATION Corp Acquires 35,149 Shares of Masco Corporation $MAS

Key Points

• OMERS Administration Corp increased its Masco stake by 374.9% in the first quarter, acquiring 35,149 additional shares and ending with 44,525 shares valued at approximately $2.688 million.
• Analyst sentiment is mixed: Masco has a consensus “Hold” rating and an average price target of $80.67, although several firms recently raised their targets and Zacks upgraded the stock to “Strong Buy.”
• Masco’s shares opened at $81.83, near their 52-week high, while the company maintains a quarterly dividend of $0.32 per share and authorized a $300 million share-repurchase program.

OMERS ADMINISTRATION Corp boosted its holdings in Masco Corporation (NYSE:MAS - Free Report) by 374.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,525 shares of the construction company's stock after buying an additional 35,149 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Masco were worth $2,688,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Sunbelt Securities Inc. acquired a new position in Masco during the third quarter worth about $26,000. Bard Associates Inc. acquired a new stake in shares of Masco in the 4th quarter valued at approximately $25,000. Bogart Wealth LLC boosted its stake in shares of Masco by 2,550.0% in the 4th quarter. Bogart Wealth LLC now owns 424 shares of the construction company's stock valued at $27,000 after purchasing an additional 408 shares in the last quarter. Headlands Technologies LLC grew its holdings in shares of Masco by 114.5% during the 2nd quarter. Headlands Technologies LLC now owns 549 shares of the construction company's stock valued at $35,000 after purchasing an additional 293 shares during the last quarter. Finally, CYBER HORNET ETFs LLC bought a new stake in shares of Masco during the 2nd quarter valued at approximately $37,000. Institutional investors own 93.91% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MAS. Royal Bank Of Canada increased their price objective on shares of Masco from $67.00 to $72.00 and gave the company a "sector perform" rating in a research note on Thursday, April 23rd. The Goldman Sachs Group boosted their target price on shares of Masco from $79.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday, April 23rd. Citigroup lowered their price target on shares of Masco from $84.00 to $79.00 and set a "neutral" rating for the company in a report on Thursday, April 23rd. Truist Financial increased their price target on Masco from $85.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, April 22nd. Finally, Zacks Research raised Masco from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Masco presently has an average rating of "Hold" and a consensus price target of $80.67.

Masco Stock Performance

Masco stock opened at $81.83 on Wednesday. The business has a 50 day moving average of $75.07 and a 200-day moving average of $70.29. Masco Corporation has a 1 year low of $58.16 and a 1 year high of $83.64. The company has a debt-to-equity ratio of 109.07, a current ratio of 1.75 and a quick ratio of 1.11. The company has a market capitalization of $16.51 billion, a P/E ratio of 20.31, a P/E/G ratio of 2.00 and a beta of 1.29.

Masco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Friday, May 22nd were given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.6%. The ex-dividend date was Friday, May 22nd. Masco's dividend payout ratio is 31.76%.

Masco declared that its Board of Directors has approved a share repurchase program on Thursday, May 7th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 2.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Masco Company Profile

Masco Corporation is a global leader in the design, manufacture and distribution of branded home improvement and building products. Founded in 1929 and headquartered in Livonia, Michigan, the company has evolved from a small door‐bell manufacturer into a diversified enterprise serving both residential and commercial markets. Over its history, Masco has grown through a combination of organic innovation and strategic acquisitions, building a portfolio of well-recognized brands.

The company's product offerings are organized into two primary segments.

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