Allman to Succeed Wadhams as Masco CEO - Analyst Blog

By Zacks Equity Research,

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Masco Corporation ( MAS ) 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 quarter.

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 faucets.

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 industry are United Rentals, Inc. ( URI ) and James Hardie Industries plc ( JHX ). 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. ( TOL ) which carries the same Zacks Rank as Masco.

JAMES HARDI-ADR (JHX): Free Stock Analysis Report

MASCO (MAS): Free Stock Analysis Report

TOLL BROTHERS (TOL): Free Stock Analysis Report

UTD RENTALS INC (URI): Free Stock Analysis Report

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Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Business , Stocks
Referenced Stocks: JHX , MAS , TOL , URI

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