SEB Asset Management AB Invests $3.26 Million in Masco Corporation $MAS

Key Points

• SEB Asset Management AB opened a new position in Masco Corporation during the first quarter, buying 53,937 shares worth about $3.26 million.
• Masco reported quarterly earnings of $1.04 per share, topping analyst expectations, though revenue of $1.92 billion came in below estimates despite 6.5% year-over-year growth.
• The company authorized a $300 million share buyback and also paid a quarterly dividend of $0.32 per share, equal to a 1.7% annualized yield.

SEB Asset Management AB bought a new stake in shares of Masco Corporation (NYSE:MAS - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 53,937 shares of the construction company's stock, valued at approximately $3,256,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Sunbelt Securities Inc. purchased a new stake in Masco in the third quarter worth about $26,000. Bard Associates Inc. purchased a new position in shares of Masco during the 4th quarter worth approximately $25,000. Bogart Wealth LLC raised its position 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 worth $27,000 after acquiring an additional 408 shares in the last quarter. Headlands Technologies LLC raised its position in shares of Masco by 114.5% in the 2nd quarter. Headlands Technologies LLC now owns 549 shares of the construction company's stock worth $35,000 after acquiring an additional 293 shares in the last quarter. Finally, CYBER HORNET ETFs LLC purchased a new position in shares of Masco in the 2nd quarter valued at approximately $37,000. Hedge funds and other institutional investors own 93.91% of the company's stock.

Masco Trading Down 0.8%

Masco stock opened at $77.39 on Friday. The company has a current ratio of 1.75, a quick ratio of 1.11 and a debt-to-equity ratio of 109.07. The business's fifty day simple moving average is $74.12 and its two-hundred day simple moving average is $69.95. Masco Corporation has a 12 month low of $58.16 and a 12 month high of $83.21. The company has a market capitalization of $15.61 billion, a price-to-earnings ratio of 19.20, a price-to-earnings-growth ratio of 1.92 and a beta of 1.29.

Masco (NYSE:MAS - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The construction company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.16. The firm had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $2.07 billion. Masco had a return on equity of 815.20% and a net margin of 10.90%.The company's revenue was up 6.5% on a year-over-year basis. During the same period last year, the company earned $0.87 earnings per share. As a group, equities analysts predict that Masco Corporation will post 4.25 earnings per share for the current fiscal year.

Masco announced that its board has approved a share buyback plan on Thursday, May 7th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the construction company to reacquire up to 2.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

Masco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Friday, May 22nd were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, May 22nd. Masco's dividend payout ratio (DPR) is currently 31.76%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MAS shares. UBS Group upped their price target on Masco from $96.00 to $97.00 and gave the stock a "buy" rating in a research note on Thursday, April 23rd. Weiss Ratings upgraded shares of Masco from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, June 23rd. Bank of America reduced their target price on shares of Masco from $69.00 to $61.00 and set an "underperform" rating on the stock in a research report on Monday, April 20th. Royal Bank Of Canada increased their price target on shares of Masco from $67.00 to $72.00 and gave the stock a "sector perform" rating in a research note on Thursday, April 23rd. Finally, The Goldman Sachs Group lifted their price target on shares of Masco from $79.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday, April 23rd. One research 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 given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $80.67.

Masco 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.

Want to see what other hedge funds are holding MAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Masco Corporation (NYSE:MAS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.