Banque Cantonale Vaudoise Lowers Stock Holdings in Masco Co. (NYSE:MAS)

Posted by on Jul 6th, 2023

Banque Cantonale Vaudoise reduced its holdings in Masco Co. (NYSE:MAS – Free Report) by 90.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,895 shares of the construction company’s stock after selling 44,588 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Masco were worth $243,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MAS. Moneta Group Investment Advisors LLC lifted its holdings in shares of Masco by 118,819.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,978,187 shares of the construction company’s stock valued at $325,672,000 after buying an additional 6,972,319 shares during the period. Harris Associates L P lifted its holdings in shares of Masco by 55.7% in the 4th quarter. Harris Associates L P now owns 8,395,119 shares of the construction company’s stock valued at $391,800,000 after buying an additional 3,003,848 shares during the period. Boston Partners lifted its holdings in shares of Masco by 21.6% in the 4th quarter. Boston Partners now owns 10,050,031 shares of the construction company’s stock valued at $471,236,000 after buying an additional 1,786,398 shares during the period. Manning & Napier Group LLC acquired a new stake in shares of Masco in the 1st quarter valued at approximately $74,497,000. Finally, Norges Bank acquired a new stake in shares of Masco in the 4th quarter valued at approximately $69,716,000. 91.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, VP Kenneth G. Cole sold 10,000 shares of Masco stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $54.95, for a total value of $549,500.00. Following the completion of the sale, the vice president now owns 70,198 shares of the company’s stock, valued at $3,857,380.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Masco news, CFO John G. Sznewajs sold 20,361 shares of the business’s stock in a transaction dated 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 sale, 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 SEC, which is available through this hyperlink. Also, VP Kenneth G. Cole sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $54.95, for a total value of $549,500.00. Following the sale, the vice president now directly owns 70,198 shares of the company’s stock, valued at approximately $3,857,380.10. The disclosure for this sale can be found here. Insiders sold a total of 99,111 shares of company stock valued at $5,367,682 over the last quarter. Company insiders own 1.50% of the company’s stock.

Masco Stock Performance

Masco stock opened at $56.15 on Thursday. The stock has a fifty day moving average of $53.66 and a two-hundred day moving average of $51.66. The company has a market capitalization of $12.64 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 3.71 and a beta of 1.22. Masco Co. has a fifty-two week low of $42.33 and a fifty-two week high of $57.93.

Masco (NYSE:MAS – Free Report) last announced its quarterly earnings data on Wednesday, April 26th. The construction company reported $0.87 EPS for the quarter, beating 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 business’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.95 earnings per share. On average, analysts forecast that Masco Co. will post 3.35 EPS for the current fiscal year.

Masco Dividend Announcement

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

About Masco

(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.

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Institutional Ownership by Quarter for Masco (NYSE:MAS)

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