ProShare Advisors LLC Purchases 198 Shares of Masco Co. (NYSE:MAS)

Posted by Defense World Staff on Apr 25th, 2023

ProShare Advisors LLC boosted its position in Masco Co. (NYSE:MAS – Get Rating) by 0.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 47,616 shares of the construction company’s stock after acquiring an additional 198 shares during the period. ProShare Advisors LLC’s holdings in Masco were worth $2,222,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. First Trust Advisors LP lifted its position in shares of Masco by 410.9% in the 3rd quarter. First Trust Advisors LP now owns 244,868 shares of the construction company’s stock worth $11,433,000 after purchasing an additional 196,938 shares during the period. Verdence Capital Advisors LLC lifted its position 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 worth $520,000 after purchasing an additional 227 shares during the period. WINTON GROUP Ltd purchased a new stake in shares of Masco in the 3rd quarter worth about $341,000. USS Investment Management Ltd lifted its position in shares of Masco by 224.4% in the 3rd quarter. USS Investment Management Ltd now owns 58,585 shares of the construction company’s stock worth $2,737,000 after purchasing an additional 40,528 shares during the period. Finally, California Public Employees Retirement System lifted its position in shares of Masco by 28.9% in the 3rd quarter. California Public Employees Retirement System now owns 541,451 shares of the construction company’s stock worth $25,280,000 after purchasing an additional 121,429 shares during the period. Institutional investors own 91.50% of the company’s stock.

Masco Stock Performance

NYSE:MAS opened at $51.03 on Tuesday. The firm has a market cap of $11.50 billion, a P/E ratio of 14.02, a P/E/G ratio of 3.88 and a beta of 1.18. Masco Co. has a fifty-two week low of $42.33 and a fifty-two week high of $58.18. The firm has a 50-day simple moving average of $50.62 and a two-hundred day simple moving average of $49.78.

Masco (NYSE:MAS – Get Rating) last released its quarterly earnings data 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 net margin of 9.72% and a negative return on equity of 250.36%. The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the prior year, the business posted $0.67 earnings per share. The firm’s revenue for the quarter was down 4.9% compared to the same quarter last year. On average, equities research analysts predict that Masco Co. will post 3.28 EPS for the current year.

Masco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 13th. Stockholders of record on Thursday, February 23rd were paid a $0.285 dividend. The ex-dividend date was Wednesday, February 22nd. This is a positive change from Masco’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.23%. Masco’s payout ratio is currently 31.32%.

Analyst Ratings Changes

Several equities research analysts have recently commented on MAS shares. KeyCorp dropped their target price on shares of Masco from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, February 10th. Deutsche Bank Aktiengesellschaft raised shares of 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 research report on Monday, February 13th. Bank of America lowered their price target on shares of Masco from $49.00 to $48.00 and set an “underperform” rating for the company in a research report on Wednesday, April 19th. Robert W. Baird lifted their price target 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. Finally, Credit Suisse Group lifted their price target on shares of Masco from $40.00 to $45.00 and gave the company an “underperform” rating in a research report on Friday, February 10th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Masco currently has a consensus rating of “Hold” and a consensus price target of $57.92.

Insider Transactions at Masco

In other news, CFO John G. Sznewajs sold 55,170 shares of Masco stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $56.19, for a total value of $3,100,002.30. Following the completion of the sale, the chief financial officer now directly owns 194,044 shares in the company, valued at $10,903,332.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Keith J. Allman sold 33,947 shares of the business’s 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 completion of the sale, the chief executive officer now directly owns 200,305 shares in the company, valued at $10,668,244.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO John G. Sznewajs sold 55,170 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 194,044 shares of the company’s stock, valued at $10,903,332.36. The disclosure for this sale can be found here. Insiders sold 312,227 shares of company stock worth $17,222,643 over the last three months. 1.50% of the stock is currently owned by company insiders.

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.