) recently announced the appointment of Keith J. Allman as the
President and Chief Executive Officer of the company. Allman will
succeed Timothy Wadhams and join the board of directors effective
Feb 14, 2014.
Allman, aged 51, presently holds the position of group
president and heads Masco's Plumbing and North American Cabinet
businesses. Masco's cabinet business showed significant
improvement in 2013 after struggling in 2012. In the last
reported quarter (third-quarter 2013), cabinet segment revenues
grew 15% driven by increased volume and pricing for North
American cabinets. Masco also saw improving trends in
repair/remodeling activities for cabinets. In fact, the company
saw some traction in big ticket remodeling after struggling for
the past few quarters. All channels and brands improved in the
Allman joined Masco in 1998 as vice president of manufacturing
for Masco's subsidiary Merillat Industries which manufactures
cabinets. He later became president of another subsidiary, Delta
Faucet Company, which makes residential and commercial
Masco carries a Zacks Rank #2 (Buy) as it reported strong
third-quarter 2013 results with both earnings and revenues
beating the Zacks Consensus Estimate and also growing year over
year. The results were driven by growth in both new residential
construction and remodeling activity in North America, increased
international sales, solid margin expansion, cost controls and
better operating leverage. Both Installation and Cabinetry
segments once again showed strong profitability in the quarter
after underperforming in 2012.
Other Stocks to Consider
Other favorable-ranked stocks in the building/construction
United Rentals, Inc.
James Hardie Industries plc
). While James Hardie sports a Zacks Rank #1 (Strong Buy), United
Rentals has a Zacks Rank #2. Another stock worth considering in
the construction industry is
Toll Brothers, Inc.
) which carries the same Zacks Rank as Masco.
JAMES HARDI-ADR (JHX): Free Stock Analysis
MASCO (MAS): Free Stock Analysis Report
TOLL BROTHERS (TOL): Free Stock Analysis
UTD RENTALS INC (URI): Free Stock Analysis
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