PNC Financial Services Group Inc. Purchases 16,875 Shares of Masco Corporation $MAS

Key Points

• PNC Financial Services increased its Masco position by 17.2% in the first quarter, adding 16,875 shares to own 115,124 shares valued at approximately $6.95 million. Institutional investors collectively own 93.91% of Masco.
• Masco authorized a $300 million share-repurchase program, allowing it to buy back up to 2.1% of outstanding shares, and maintains a quarterly dividend of $0.32 per share, or $1.28 annually.
• Masco shares recently opened at $79.32, near analysts’ consensus price target of $80.67. Despite several bullish ratings and raised targets, the overall analyst consensus remains “Hold.”

PNC Financial Services Group Inc. boosted its position in Masco Corporation (NYSE:MAS - Free Report) by 17.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,124 shares of the construction company's stock after buying an additional 16,875 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.06% of Masco worth $6,950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Bard Associates Inc. purchased a new position in Masco in the 4th quarter worth $25,000. Sunbelt Securities Inc. purchased a new stake in Masco during the third quarter valued at about $26,000. Bogart Wealth LLC boosted its position in Masco by 2,550.0% during the fourth quarter. Bogart Wealth LLC now owns 424 shares of the construction company's stock valued at $27,000 after buying an additional 408 shares during the period. Headlands Technologies LLC grew its stake in shares of Masco by 114.5% during the second quarter. Headlands Technologies LLC now owns 549 shares of the construction company's stock valued at $35,000 after buying an additional 293 shares during the last quarter. Finally, CYBER HORNET ETFs LLC purchased a new position in shares of Masco in the second quarter worth about $37,000. 93.91% of the stock is currently owned by institutional investors.

Masco Price Performance

Shares of Masco stock opened at $79.32 on Monday. The business has a 50 day moving average of $74.41 and a 200 day moving average of $70.06. Masco Corporation has a 52 week low of $58.16 and a 52 week high of $83.21. The company has a market cap of $16.00 billion, a PE ratio of 19.68, a P/E/G ratio of 1.95 and a beta of 1.29. The company has a quick ratio of 1.11, a current ratio of 1.75 and a debt-to-equity ratio of 109.07.

Masco declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 7th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 2.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Masco Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on MAS shares. Wells Fargo & Company increased their target price on Masco from $85.00 to $87.00 and gave the company an "overweight" rating in a report on Tuesday, July 14th. UBS Group lifted their target price on shares of Masco from $96.00 to $97.00 and gave the stock a "buy" rating in a research note on Thursday, April 23rd. Royal Bank Of Canada upped their price target on shares of Masco from $67.00 to $72.00 and gave the company a "sector perform" rating in a report on Thursday, April 23rd. Robert W. Baird increased their price target on shares of Masco from $72.00 to $80.00 and gave the company a "neutral" rating in a research report on Thursday, April 23rd. Finally, Barclays raised their price target on shares of Masco from $78.00 to $82.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Masco has a consensus rating of "Hold" and a consensus price target of $80.67.

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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