Allworth Financial LP Purchases 268 Shares of Masco Co. (NYSE:MAS)

Posted by Defense World Staff on Jul 6th, 2023

Allworth Financial LP boosted its position in Masco Co. (NYSE:MAS – Free Report) by 45.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 854 shares of the construction company’s stock after acquiring an additional 268 shares during the quarter. Allworth Financial LP’s holdings in Masco were worth $42,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Trust Advisors LP grew its stake in shares of Masco by 410.9% during the third quarter. First Trust Advisors LP now owns 244,868 shares of the construction company’s stock worth $11,433,000 after buying an additional 196,938 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Masco by 1.9% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 531,367 shares of the construction company’s stock worth $24,799,000 after buying an additional 10,131 shares during the last quarter. Verdence Capital Advisors LLC grew its stake in shares of Masco by 2.1% during the third quarter. Verdence Capital Advisors LLC now owns 11,132 shares of the construction company’s stock worth $520,000 after buying an additional 227 shares during the last quarter. South Dakota Investment Council grew its stake in shares of Masco by 426.7% in the fourth quarter. South Dakota Investment Council now owns 91,381 shares of the construction company’s stock worth $4,265,000 after purchasing an additional 74,031 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Masco by 4.6% in the fourth quarter. Victory Capital Management Inc. now owns 1,036,532 shares of the construction company’s stock worth $55,144,000 after purchasing an additional 45,159 shares during the last quarter. Institutional investors own 91.60% of the company’s stock.

Insider Activity

In other news, CFO John G. Sznewajs sold 20,361 shares of the business’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $54.00, for a total transaction of $1,099,494.00. Following the completion of the sale, the chief financial officer now directly owns 187,784 shares of the company’s stock, valued at $10,140,336. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO John G. Sznewajs sold 20,361 shares of the business’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $54.00, for a total transaction of $1,099,494.00. Following the completion of the sale, the chief financial officer now directly owns 187,784 shares of the company’s stock, valued at $10,140,336. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Kenneth G. Cole sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $54.95, for a total transaction of $549,500.00. Following the sale, the vice president now directly owns 70,198 shares of the company’s stock, valued at $3,857,380.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 99,111 shares of company stock worth $5,367,682. Company insiders own 1.50% of the company’s stock.

Masco Trading Down 1.2 %

Shares of NYSE MAS opened at $56.15 on Thursday. The firm’s 50-day moving average price is $53.66 and its 200-day moving average price is $51.66. Masco Co. has a 1-year low of $42.33 and a 1-year high of $57.93. The firm has a market capitalization of $12.64 billion, a P/E ratio of 15.73, a P/E/G ratio of 3.71 and a beta of 1.22.

Masco (NYSE:MAS – Free Report) last announced its quarterly earnings data on Wednesday, April 26th. The construction company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.22. Masco had a net margin of 9.65% and a negative return on equity of 237.83%. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the business earned $0.95 earnings per share. The business’s quarterly revenue was down 10.1% compared to the same quarter last year. Equities research analysts forecast that Masco Co. will post 3.35 EPS for the current year.

Masco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Friday, May 26th were issued a dividend of $0.285 per share. The ex-dividend date of this dividend was Thursday, May 25th. This represents a $1.14 annualized dividend and a dividend yield of 2.03%. Masco’s dividend payout ratio is currently 31.93%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Jefferies Financial Group raised shares of Masco from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $55.00 to $65.00 in a research note on Friday, April 28th. Bank of America reduced their price objective on shares of Masco from $49.00 to $48.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 19th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Masco from $56.00 to $57.00 in a research note on Thursday, April 27th. Barclays boosted their price objective on shares of Masco from $62.00 to $64.00 in a research note on Thursday, April 27th. Finally, StockNews.com cut shares of Masco from a “buy” rating to a “hold” rating in a research note on Thursday, May 11th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $58.71.

Masco Company Profile

(Free Report)

Masco Corporation designs, manufactures, and distributes home improvement and building products in North America, Europe, and internationally. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, sinks, toilets, acrylic tubs, shower trays, spas, exercise pools, and fitness systems; brass, copper, and composite plumbing system components; connected water products; thermoplastic solutions, extruded plastic profiles, specialized fabrications, and PEX tubing products; and other non-decorative plumbing products.