PNC Financial Services Group Inc. Boosts Stake in Masco Corporation $MAS

PNC Financial Services Group Inc. lifted its position in Masco Corporation (NYSE:MAS) by 17.2% in the 1st quarter, Holdings Channel reports. The fund owned 115,124 shares of the construction company’s stock after acquiring an additional 16,875 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Masco were worth $6,950,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Focus Partners Wealth lifted its position in Masco by 2.6% during the first quarter. Focus Partners Wealth now owns 10,414 shares of the construction company’s stock valued at $724,000 after buying an additional 265 shares during the period. CW Advisors LLC bought a new position in shares of Masco in the 2nd quarter worth about $238,000. Bank of Nova Scotia increased its stake in shares of Masco by 14.8% in the 2nd quarter. Bank of Nova Scotia now owns 25,555 shares of the construction company’s stock worth $1,645,000 after acquiring an additional 3,294 shares in the last quarter. WINTON GROUP Ltd purchased a new position in Masco during the 2nd quarter valued at about $415,000. Finally, Daiwa Securities Group Inc. boosted its stake in Masco by 4.6% during the second quarter. Daiwa Securities Group Inc. now owns 31,832 shares of the construction company’s stock worth $2,049,000 after acquiring an additional 1,413 shares in the last quarter. Hedge funds and other institutional investors own 93.91% of the company’s stock.

Masco Trading Up 0.1%

Shares of MAS stock opened at $79.32 on Monday. Masco Corporation has a 1 year low of $58.16 and a 1 year high of $83.21. The firm has a fifty day moving average price of $74.41 and a 200-day moving average price of $70.06. 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 cap of $16.00 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 1.95 and a beta of 1.29.

Masco declared that its board has approved a stock repurchase program on Thursday, May 7th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 2.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Masco Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MAS shares. BMO Capital Markets lowered their price objective on Masco from $77.00 to $75.00 and set a “market perform” rating for the company in a research note on Monday, April 20th. Royal Bank Of Canada raised their target price on shares of Masco from $67.00 to $72.00 and gave the stock a “sector perform” rating in a report on Thursday, April 23rd. Citigroup cut their price objective on Masco from $84.00 to $79.00 and set a “neutral” rating for the company in a report on Thursday, April 23rd. Zacks Research upgraded Masco from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Finally, UBS Group increased their target price on Masco from $96.00 to $97.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $80.67.

About Masco

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.