Masco Co. (NYSE:MAS) Shares Bought by New York State Common Retirement Fund

Posted by on Apr 18th, 2023

New York State Common Retirement Fund raised its stake in Masco Co. (NYSE:MAS – Get Rating) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 360,062 shares of the construction company’s stock after acquiring an additional 1,460 shares during the period. New York State Common Retirement Fund owned 0.16% of Masco worth $16,804,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Boston Partners boosted its stake in Masco by 91.0% in the third 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. AustralianSuper Pty Ltd boosted its stake in Masco by 1.4% in the third quarter. AustralianSuper Pty Ltd now owns 4,939,950 shares of the construction company’s stock valued at $230,646,000 after acquiring an additional 69,486 shares during the period. Van ECK Associates Corp boosted its stake in Masco by 4.8% in the third quarter. Van ECK Associates Corp now owns 3,583,260 shares of the construction company’s stock valued at $167,303,000 after acquiring an additional 165,208 shares during the period. Beutel Goodman & Co Ltd. boosted its stake in Masco by 1,031.4% in the third quarter. Beutel Goodman & Co Ltd. now owns 2,400,094 shares of the construction company’s stock valued at $112,060,000 after acquiring an additional 2,187,950 shares during the period. Finally, Impax Asset Management Group plc raised its holdings in shares of Masco by 0.6% during the third quarter. Impax Asset Management Group plc now owns 2,390,594 shares of the construction company’s stock valued at $111,617,000 after buying an additional 13,584 shares during the last quarter. 91.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MAS. Deutsche Bank Aktiengesellschaft raised Masco from a “sell” rating to a “hold” rating and lifted their price target for the company from $43.00 to $56.00 in a report on Monday, February 13th. KeyCorp cut 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. Credit Suisse Group lifted their price target on Masco from $40.00 to $45.00 and gave the company an “underperform” rating in a report on Friday, February 10th. Royal Bank of Canada raised Masco from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $49.00 to $57.00 in a report on Friday, February 10th. Finally, Robert W. Baird lifted their price target on Masco from $59.00 to $60.00 and gave the company an “outperform” rating 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 assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $57.77.

Insider Buying and Selling at Masco

In other Masco news, CEO Keith J. Allman sold 33,947 shares of Masco stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $53.26, for a total transaction of $1,808,017.22. Following the transaction, the chief executive officer now directly owns 200,305 shares in the company, valued at approximately $10,668,244.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO John G. Sznewajs sold 55,170 shares of the business’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $56.19, for a total transaction of $3,100,002.30. Following the transaction, the chief financial officer now directly owns 194,044 shares in the company, valued at approximately $10,903,332.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Keith J. Allman sold 33,947 shares of the business’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $53.26, for a total transaction of $1,808,017.22. Following the transaction, the chief executive officer now owns 200,305 shares in the company, valued at $10,668,244.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 312,227 shares of company stock valued at $17,222,643. Corporate insiders own 1.50% of the company’s stock.

Masco Stock Performance

NYSE MAS opened at $49.39 on Tuesday. The stock has a market capitalization of $11.13 billion, a P/E ratio of 13.57, a P/E/G ratio of 3.02 and a beta of 1.18. Masco Co. has a 1 year low of $42.33 and a 1 year high of $58.18. The business’s fifty day moving average is $51.04 and its two-hundred day moving average is $49.73.

Masco (NYSE:MAS – Get Rating) last posted its quarterly earnings results on Thursday, February 9th. The construction company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.93 billion. Masco had a net margin of 9.72% and a negative return on equity of 250.36%. Masco’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.67 EPS. On average, research analysts forecast that Masco Co. will post 3.28 earnings per share for the current year.

Masco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 13th. Shareholders of record on Thursday, February 23rd were issued a $0.285 dividend. The ex-dividend date was Wednesday, February 22nd. This represents a $1.14 annualized dividend and a dividend yield of 2.31%. This is a boost from Masco’s previous quarterly dividend of $0.28. Masco’s dividend payout ratio is currently 31.32%.

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.

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Institutional Ownership by Quarter for Masco (NYSE:MAS)

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