Masco Co. (NYSE:MAS) Shares Sold by abrdn plc

Posted by Defense World Staff on May 24th, 2023

abrdn plc cut its holdings in shares of Masco Co. (NYSE:MAS – Get Rating) by 23.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,953 shares of the construction company’s stock after selling 19,466 shares during the quarter. abrdn plc’s holdings in Masco were worth $3,031,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Landscape Capital Management L.L.C. purchased a new position in Masco in the fourth quarter valued at $5,849,000. Great Lakes Advisors LLC grew its position in shares of Masco by 22.8% during the fourth quarter. Great Lakes Advisors LLC now owns 99,865 shares of the construction company’s stock worth $4,661,000 after buying an additional 18,509 shares in the last quarter. Cibc World Markets Corp purchased a new stake in shares of Masco during the fourth quarter worth approximately $1,237,000. Trust Co. of Vermont raised its holdings in Masco by 11.5% in the fourth quarter. Trust Co. of Vermont now owns 2,898 shares of the construction company’s stock valued at $135,000 after acquiring an additional 300 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in Masco by 64.3% in the fourth quarter. First Trust Advisors LP now owns 402,345 shares of the construction company’s stock worth $18,781,000 after acquiring an additional 157,477 shares during the last quarter. Hedge funds and other institutional investors own 91.50% of the company’s stock.

Insider Buying and Selling

In related news, CFO John G. Sznewajs sold 68,750 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $54.09, for a total value of $3,718,687.50. Following the completion of the transaction, the chief financial officer now directly owns 187,784 shares of the company’s stock, valued at approximately $10,157,236.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Masco news, CFO John G. Sznewajs sold 20,361 shares of the firm’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $54.00, for a total transaction of $1,099,494.00. Following the completion of the transaction, the chief financial officer now owns 187,784 shares of the company’s stock, valued at $10,140,336. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO John G. Sznewajs sold 68,750 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $54.09, for a total transaction of $3,718,687.50. Following the completion of the transaction, the chief financial officer now directly owns 187,784 shares of the company’s stock, valued at approximately $10,157,236.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 123,058 shares of company stock valued at $6,626,199. Corporate insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Barclays boosted their target price on shares of Masco from $62.00 to $64.00 in a research note on Thursday, April 27th. Deutsche Bank Aktiengesellschaft boosted their target price on Masco from $56.00 to $57.00 in a research note on Thursday, April 27th. Royal Bank of Canada raised shares of Masco from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $49.00 to $57.00 in a report on Friday, February 10th. StockNews.com cut shares of Masco from a “buy” rating to a “hold” rating in a report on Thursday, May 11th. Finally, KeyCorp reduced their target price on Masco from $66.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, February 10th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $58.71.

Masco Stock Performance

MAS stock opened at $51.12 on Wednesday. The stock has a market capitalization of $11.51 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 3.40 and a beta of 1.18. The company has a fifty day moving average of $50.59 and a 200-day moving average of $50.66. Masco Co. has a one year low of $42.33 and a one year high of $58.18.

Masco (NYSE:MAS – Get Rating) last issued its earnings results on Wednesday, April 26th. The construction company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.22. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.91 billion. Masco had a negative return on equity of 237.83% and a net margin of 9.65%. The company’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.95 EPS. Equities analysts forecast that Masco Co. will post 3.35 earnings per share for the current fiscal year.

Masco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 12th. Investors of record on Friday, May 26th will be paid a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Thursday, May 25th. Masco’s dividend payout ratio (DPR) is 31.93%.

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.