Allworth Financial LP raised its position in Masco Co. (NYSE:MAS – Free Report) by 42.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,219 shares of the construction company’s stock after purchasing an additional 365 shares during the period. Allworth Financial LP’s holdings in Masco were worth $70,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MAS. D.B. Root & Company LLC lifted its holdings in shares of Masco by 127.8% during the 2nd quarter. D.B. Root & Company LLC now owns 13,045 shares of the construction company’s stock worth $749,000 after acquiring an additional 7,318 shares during the period. Diversified Trust Co lifted its holdings in shares of Masco by 119.4% during the 2nd quarter. Diversified Trust Co now owns 11,046 shares of the construction company’s stock worth $634,000 after acquiring an additional 6,012 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Masco by 5.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 82,675 shares of the construction company’s stock worth $4,744,000 after acquiring an additional 4,634 shares during the period. New Mexico Educational Retirement Board raised its holdings in Masco by 4.8% in the second quarter. New Mexico Educational Retirement Board now owns 10,921 shares of the construction company’s stock valued at $627,000 after buying an additional 500 shares during the period. Finally, Foster Victor Wealth Advisors LLC raised its holdings in Masco by 4.2% in the second quarter. Foster Victor Wealth Advisors LLC now owns 172,565 shares of the construction company’s stock valued at $9,690,000 after buying an additional 6,912 shares during the period. 91.67% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms recently commented on MAS. StockNews.com upgraded shares of Masco from a “hold” rating to a “buy” rating in a report on Friday, September 15th. Barclays raised their price target on shares of Masco from $66.00 to $74.00 in a report on Friday, July 28th. Loop Capital lowered their price objective on shares of Masco from $66.00 to $61.00 and set a “hold” rating for the company in a research report on Friday, September 29th. TheStreet downgraded shares of Masco from a “b” rating to a “c+” rating in a research report on Monday, August 28th. Finally, Truist Financial increased their price objective on shares of Masco from $60.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $62.46.
Insider Activity at Masco
In related news, VP Renee Straber sold 41,200 shares of Masco stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $61.13, for a total transaction of $2,518,556.00. Following the sale, the vice president now directly owns 31,995 shares in the company, valued at $1,955,854.35. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Renee Straber sold 41,200 shares of Masco stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $61.13, for a total transaction of $2,518,556.00. Following the transaction, the vice president now directly owns 31,995 shares of the company’s stock, valued at $1,955,854.35. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Keith J. Allman sold 188,040 shares of Masco stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $59.77, for a total value of $11,239,150.80. Following the transaction, the chief executive officer now directly owns 200,305 shares in the company, valued at $11,972,229.85. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.
Masco Stock Performance
MAS stock opened at $52.26 on Thursday. The company has a debt-to-equity ratio of 420.86, a quick ratio of 1.07 and a current ratio of 1.72. The stock has a market capitalization of $11.76 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 2.63 and a beta of 1.24. Masco Co. has a 1 year low of $42.33 and a 1 year high of $63.85. The stock’s fifty day moving average is $56.95 and its two-hundred day moving average is $54.49.
Masco (NYSE:MAS – Get Free Report) last posted its earnings results on Thursday, July 27th. The construction company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.23. The company had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Masco had a negative return on equity of 403.37% and a net margin of 9.73%. The firm’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same period last year, the business posted $1.14 earnings per share. On average, research analysts predict that Masco Co. will post 3.6 EPS for the current year.
Masco Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 28th. Investors of record on Friday, August 11th were paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend was Thursday, August 10th. Masco’s dividend payout ratio is currently 32.20%.
About Masco
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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