Masco Co. (NYSE:MAS) Shares Acquired by First Trust Advisors LP

Posted by Defense World Staff on Mar 12th, 2023

First Trust Advisors LP increased its holdings in Masco Co. (NYSE:MAS – Get Rating) by 410.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 244,868 shares of the construction company’s stock after acquiring an additional 196,938 shares during the quarter. First Trust Advisors LP owned approximately 0.11% of Masco worth $11,433,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of MAS. Boston Partners increased its holdings in shares of Masco by 91.0% in the 3rd quarter. Boston Partners now owns 8,263,633 shares of the construction company’s stock valued at $385,282,000 after acquiring an additional 3,936,601 shares during the period. Beutel Goodman & Co Ltd. grew its position in Masco by 1,031.4% in the 3rd quarter. Beutel Goodman & Co Ltd. now owns 2,400,094 shares of the construction company’s stock valued at $112,060,000 after buying an additional 2,187,950 shares during the last quarter. CCLA Investment Management purchased a new position in Masco in the 3rd quarter valued at $59,680,000. Confluence Investment Management LLC purchased a new position in Masco in the 3rd quarter valued at $33,432,000. Finally, Renaissance Technologies LLC grew its position in Masco by 3,316.8% in the 1st quarter. Renaissance Technologies LLC now owns 710,700 shares of the construction company’s stock valued at $36,246,000 after buying an additional 689,900 shares during the last quarter. 91.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Masco

In other Masco news, CEO Keith J. Allman sold 14,177 shares of the company’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $51.40, for a total value of $728,697.80. Following the transaction, the chief executive officer now directly owns 258,085 shares of the company’s stock, valued at approximately $13,265,569. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Keith J. Allman sold 14,177 shares of the company’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $51.40, for a total transaction of $728,697.80. Following the sale, the chief executive officer now directly owns 258,085 shares of the company’s stock, valued at approximately $13,265,569. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Keith J. Allman sold 56,853 shares of the company’s stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $56.26, for a total value of $3,198,549.78. Following the sale, the chief executive officer now directly owns 258,085 shares in the company, valued at $14,519,862.10. The disclosure for this sale can be found here. Insiders have sold a total of 326,404 shares of company stock valued at $17,951,341 in the last three months. Corporate insiders own 1.20% of the company’s stock.

Masco Stock Down 1.9 %

NYSE MAS opened at $50.10 on Friday. The stock has a market cap of $11.28 billion, a PE ratio of 13.76, a P/E/G ratio of 3.17 and a beta of 1.19. Masco Co. has a fifty-two week low of $42.33 and a fifty-two week high of $58.18. The business has a 50 day moving average price of $52.18 and a two-hundred day moving average price of $49.85.

Masco (NYSE:MAS – Get Rating) last released its quarterly earnings results on Thursday, February 9th. The construction company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.93 billion. Masco had a negative return on equity of 250.36% and a net margin of 9.72%. The firm’s revenue was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.67 EPS. Sell-side analysts anticipate that Masco Co. will post 3.29 EPS for the current fiscal year.

Masco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 13th. Shareholders of record on Thursday, February 23rd will be given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.28%. This is a positive change from Masco’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 22nd. Masco’s dividend payout ratio is presently 31.32%.

Analysts Set New Price Targets

A number of research firms recently weighed in on MAS. Robert W. Baird lifted their price objective on shares of Masco from $59.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, February 10th. Royal Bank of Canada upgraded shares of Masco from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $49.00 to $57.00 in a research report on Friday, February 10th. StockNews.com lowered shares of Masco from a “buy” rating to a “hold” rating in a research report on Wednesday, January 11th. Barclays boosted their target price on shares of Masco from $58.00 to $61.00 in a research report on Wednesday, December 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Masco from a “sell” rating to a “hold” rating and boosted their target price for the stock from $43.00 to $56.00 in a research report on Monday, February 13th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $57.64.

Masco Company Profile

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Masco Corp. engages in the business of designing, manufacturing, and distribution of branded home improvement and building products. It operates under the Plumbing Products and Decorative Architectural Products segments. The Plumbing Products segment includes faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, shower drains, steam shower systems, sinks, kitchen accessories, and toilets.