Tectonic Advisors LLC Raises Stock Position in Masco Co. (NYSE:MAS)

Tectonic Advisors LLC boosted its stake in shares of Masco Co. (NYSE:MAS) by 16.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 83,045 shares of the construction company’s stock after purchasing an additional 11,983 shares during the period. Tectonic Advisors LLC’s holdings in Masco were worth $6,971,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Dakota Wealth Management purchased a new stake in Masco during the 3rd quarter worth approximately $206,000. Assenagon Asset Management S.A. grew its position in Masco by 956.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 989,640 shares of the construction company’s stock worth $83,070,000 after purchasing an additional 895,950 shares during the last quarter. IFM Investors Pty Ltd grew its position in Masco by 3.1% during the 3rd quarter. IFM Investors Pty Ltd now owns 48,426 shares of the construction company’s stock worth $4,065,000 after purchasing an additional 1,478 shares during the last quarter. Grimes & Company Inc. purchased a new stake in Masco during the 3rd quarter worth approximately $219,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new stake in Masco during the 3rd quarter worth approximately $330,000. Hedge funds and other institutional investors own 93.91% of the company’s stock.

Insiders Place Their Bets

In other Masco news, VP Kenneth G. Cole sold 37,814 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $78.32, for a total transaction of $2,961,592.48. Following the completion of the transaction, the vice president now directly owns 36,980 shares in the company, valued at approximately $2,896,273.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MAS has been the topic of several research analyst reports. Wells Fargo & Company boosted their target price on shares of Masco from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Truist Financial upped their price objective on shares of Masco from $81.00 to $84.00 and gave the company a “buy” rating in a report on Friday, July 26th. BMO Capital Markets upped their price objective on shares of Masco from $78.00 to $85.00 and gave the company a “market perform” rating in a report on Tuesday. Jefferies Financial Group upped their price objective on shares of Masco from $89.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Citigroup dropped their price objective on shares of Masco from $73.00 to $66.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $81.75.

Masco Stock Performance

NYSE:MAS opened at $82.88 on Friday. The company has a debt-to-equity ratio of 16.18, a quick ratio of 1.12 and a current ratio of 1.76. The company has a fifty day moving average of $81.22 and a two-hundred day moving average of $74.28. The stock has a market capitalization of $18.25 billion, a PE ratio of 20.31, a P/E/G ratio of 2.64 and a beta of 1.24. Masco Co. has a fifty-two week low of $47.66 and a fifty-two week high of $86.70.

Masco (NYSE:MAS) last posted its quarterly earnings data on Thursday, July 25th. The construction company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.02. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.10 billion. Masco had a net margin of 11.59% and a return on equity of 602.39%. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.19 earnings per share. As a group, research analysts forecast that Masco Co. will post 4.11 earnings per share for the current fiscal year.

Masco Profile

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