Renaissance Investment Group LLC Raises Stake in Masco Corp (NYSE:MAS)

Renaissance Investment Group LLC raised its position in shares of Masco Corp (NYSE:MAS) by 1.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 154,325 shares of the construction company’s stock after purchasing an additional 2,772 shares during the quarter. Masco accounts for about 2.3% of Renaissance Investment Group LLC’s investment portfolio, making the stock its 17th largest position. Renaissance Investment Group LLC owned approximately 0.05% of Masco worth $6,055,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Penserra Capital Management LLC purchased a new position in shares of Masco in the first quarter worth $29,000. Zions Bancorporation N.A. purchased a new position in shares of Masco in the first quarter worth $44,000. SevenBridge Financial Group LLC lifted its holdings in shares of Masco by 271.3% in the second quarter. SevenBridge Financial Group LLC now owns 1,218 shares of the construction company’s stock worth $48,000 after buying an additional 890 shares in the last quarter. Thor Advisors LLC purchased a new position in shares of Masco in the first quarter worth $78,000. Finally, YorkBridge Wealth Partners LLC purchased a new position in shares of Masco in the first quarter worth $79,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.

MAS has been the topic of several research analyst reports. Bank of America raised shares of Esperion Therapeutics from an “underperform” rating to a “neutral” rating in a report on Monday, May 6th. Barclays set a $46.00 target price on shares of D. R. Horton and gave the stock a “buy” rating in a report on Friday, April 26th. Zacks Investment Research downgraded shares of HANNOVER RUECK/S from a “hold” rating to a “sell” rating in a report on Monday, April 22nd. Raymond James set a $33.00 target price on shares of LKQ and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, Zelman & Associates raised shares of Masco from a “hold” rating to a “buy” rating in a report on Monday, April 29th. One analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $44.29.

MAS traded down $0.66 during trading hours on Friday, hitting $41.72. The company’s stock had a trading volume of 147,980 shares, compared to its average volume of 2,834,974. The firm has a 50-day moving average of $38.65. Masco Corp has a 12 month low of $27.03 and a 12 month high of $42.58. The firm has a market cap of $11.51 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 1.57 and a beta of 1.46. The company has a current ratio of 1.43, a quick ratio of 0.91 and a debt-to-equity ratio of 65.98.

Masco (NYSE:MAS) last announced its quarterly earnings results on Thursday, July 25th. The construction company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.07. Masco had a net margin of 8.40% and a return on equity of 675.68%. The company had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter in the previous year, the business posted $0.75 earnings per share. Masco’s quarterly revenue was down 1.0% on a year-over-year basis. As a group, equities analysts predict that Masco Corp will post 2.65 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 12th. Investors of record on Friday, July 12th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.15%. The ex-dividend date is Thursday, July 11th. Masco’s dividend payout ratio is presently 19.20%.

Masco Profile

Masco Corporation designs, manufactures, and distributes home improvement and building products worldwide. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, toilets, acrylic tubs, shower trays, spas, exercise pools, fitness systems, and other non-decorative plumbing products; brass, copper, and composite plumbing system components; and thermoplastic extrusions, extruded plastic profiles, and specialized fabrications.

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Institutional Ownership by Quarter for Masco (NYSE:MAS)

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