Transcend Capital Advisors LLC Purchases 229 Shares of Masco Co. (NYSE:MAS)

Posted by Defense World Staff on Mar 31st, 2023

Transcend Capital Advisors LLC grew its position in shares of Masco Co. (NYSE:MAS – Get Rating) by 3.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,547 shares of the construction company’s stock after purchasing an additional 229 shares during the period. Transcend Capital Advisors LLC’s holdings in Masco were worth $306,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Fayez Sarofim & Co lifted its stake in Masco by 0.9% during the third quarter. Fayez Sarofim & Co now owns 22,809 shares of the construction company’s stock worth $1,065,000 after purchasing an additional 200 shares during the last quarter. Riverview Trust Co lifted its stake in shares of Masco by 23.0% in the 3rd quarter. Riverview Trust Co now owns 1,197 shares of the construction company’s stock valued at $56,000 after acquiring an additional 224 shares during the last quarter. Verdence Capital Advisors LLC lifted its stake in shares of Masco by 2.1% in the 3rd quarter. Verdence Capital Advisors LLC now owns 11,132 shares of the construction company’s stock valued at $520,000 after acquiring an additional 227 shares during the last quarter. Kestra Private Wealth Services LLC lifted its stake in shares of Masco by 5.2% in the 2nd quarter. Kestra Private Wealth Services LLC now owns 4,761 shares of the construction company’s stock valued at $241,000 after acquiring an additional 235 shares during the last quarter. Finally, Mastrapasqua Asset Management Inc. lifted its stake in shares of Masco by 0.5% in the 3rd quarter. Mastrapasqua Asset Management Inc. now owns 49,812 shares of the construction company’s stock valued at $2,326,000 after acquiring an additional 242 shares during the last quarter. Institutional investors own 91.50% of the company’s stock.

Insiders Place Their Bets

In related news, CFO John G. Sznewajs sold 18,240 shares of the firm’s stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $56.37, for a total transaction of $1,028,188.80. Following the completion of the transaction, the chief financial officer now owns 194,044 shares of the company’s stock, valued at approximately $10,938,260.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Keith J. Allman sold 69,203 shares of the firm’s stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $55.63, for a total transaction of $3,849,762.89. Following the completion of the transaction, the chief executive officer now owns 258,085 shares of the company’s stock, valued at approximately $14,357,268.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO John G. Sznewajs sold 18,240 shares of the firm’s stock in a transaction that occurred on Tuesday, February 14th. The shares were sold at an average price of $56.37, for a total value of $1,028,188.80. Following the transaction, the chief financial officer now directly owns 194,044 shares of the company’s stock, valued at approximately $10,938,260.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 326,404 shares of company stock worth $17,951,341. Company insiders own 1.20% of the company’s stock.

Masco Stock Performance

MAS stock opened at $48.43 on Friday. Masco Co. has a fifty-two week low of $42.33 and a fifty-two week high of $58.18. The business’s 50 day moving average price is $52.02 and its two-hundred day moving average price is $49.69. The company has a market capitalization of $10.91 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 2.98 and a beta of 1.19.

Masco (NYSE:MAS – Get Rating) last posted its 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). Masco had a negative return on equity of 250.36% and a net margin of 9.72%. The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter last year, the company posted $0.67 EPS. The firm’s revenue was down 4.9% on a year-over-year basis. Sell-side analysts forecast that Masco Co. will post 3.28 earnings per share for the current year.

Masco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 13th. Shareholders of record on Thursday, February 23rd were issued a dividend of $0.285 per share. This is an increase from Masco’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, February 22nd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.35%. Masco’s dividend payout ratio is 31.32%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MAS. Barclays boosted their target price on Masco from $58.00 to $61.00 in a research note on Wednesday, December 14th. StockNews.com began coverage on Masco in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Royal Bank of Canada raised Masco from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $49.00 to $57.00 in a research note on Friday, February 10th. Deutsche Bank Aktiengesellschaft raised Masco from a “sell” rating to a “hold” rating and boosted their target price for the company from $43.00 to $56.00 in a research note on Monday, February 13th. Finally, KeyCorp reduced their price target on Masco from $66.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, February 10th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $57.64.

Masco 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.