Natixis Advisors L.P. lifted its position in shares of Masco Co. (NYSE:MAS – Get Rating) by 12.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 307,744 shares of the construction company’s stock after buying an additional 32,921 shares during the quarter. Natixis Advisors L.P. owned approximately 0.14% of Masco worth $14,363,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Tobam grew its holdings in Masco by 141.7% during the 3rd quarter. Tobam now owns 1,141 shares of the construction company’s stock worth $53,000 after acquiring an additional 669 shares in the last quarter. Standard Family Office LLC purchased a new position in Masco in the third quarter valued at about $53,000. Riverview Trust Co grew its stake in Masco by 23.0% in the third quarter. Riverview Trust Co now owns 1,197 shares of the construction company’s stock valued at $56,000 after purchasing an additional 224 shares during the last quarter. Neo Ivy Capital Management purchased a new position in Masco in the third quarter valued at about $80,000. Finally, Old North State Trust LLC purchased a new position in Masco in the third quarter valued at about $91,000. Hedge funds and other institutional investors own 91.50% of the company’s stock.
Insider Transactions at Masco
In other news, CFO John G. Sznewajs sold 18,240 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $10,938,260.28. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Masco news, CFO John G. Sznewajs sold 18,240 shares of the stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $56.37, for a total value of $1,028,188.80. Following the sale, the chief financial officer now directly owns 194,044 shares of the company’s stock, valued at $10,938,260.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Keith J. Allman sold 33,947 shares of the company’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $53.26, for a total transaction of $1,808,017.22. Following the completion of the sale, the chief executive officer now directly owns 200,305 shares of the company’s stock, valued at $10,668,244.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 326,404 shares of company stock valued at $17,951,341. Corporate insiders own 1.50% of the company’s stock.
Masco Stock Up 2.1 %
Masco (NYSE:MAS – Get Rating) last released its earnings results on Thursday, February 9th. The construction company reported $0.65 earnings per share (EPS) 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 analyst estimates of $1.93 billion. Masco had a net margin of 9.72% and a negative return on equity of 250.36%. The company’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.67 EPS. As a group, analysts anticipate that Masco Co. will post 3.28 earnings per share for the current year.
Masco Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 13th. Investors of record on Thursday, February 23rd were issued a dividend of $0.285 per share. This is a positive change 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 annualized dividend and a dividend yield of 2.35%. Masco’s payout ratio is presently 31.32%.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the company. Robert W. Baird raised their price objective on Masco from $59.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, February 10th. Credit Suisse Group raised their price target on shares of Masco from $40.00 to $45.00 and gave the stock an “underperform” rating in a report on Friday, February 10th. Deutsche Bank Aktiengesellschaft raised shares of Masco from a “sell” rating to a “hold” rating and raised their price target for the stock from $43.00 to $56.00 in a report on Monday, February 13th. Barclays increased their price target on shares of Masco from $58.00 to $61.00 in a report on Wednesday, December 14th. Finally, Royal Bank of Canada upgraded shares of Masco from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $49.00 to $57.00 in a report on Friday, February 10th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $57.77.
About Masco
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.
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