DAVENPORT & Co LLC Has $360,000 Stock Position in Masco Co. (NYSE:MAS)

Posted by Defense World Staff on Oct 8th, 2023

DAVENPORT & Co LLC trimmed its position in Masco Co. (NYSE:MAS – Free Report) by 3.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,274 shares of the construction company’s stock after selling 230 shares during the quarter. DAVENPORT & Co LLC’s holdings in Masco were worth $360,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Park Avenue Securities LLC grew its position in shares of Masco by 0.6% during the 2nd quarter. Park Avenue Securities LLC now owns 32,987 shares of the construction company’s stock worth $1,893,000 after buying an additional 185 shares during the period. Savant Capital LLC grew its position in shares of Masco by 3.3% during the 4th quarter. Savant Capital LLC now owns 6,369 shares of the construction company’s stock worth $297,000 after buying an additional 205 shares during the period. New York Life Investment Management LLC grew its position in shares of Masco by 0.6% during the 1st quarter. New York Life Investment Management LLC now owns 37,141 shares of the construction company’s stock worth $1,847,000 after buying an additional 211 shares during the period. Veritable L.P. grew its position in shares of Masco by 2.1% during the 1st quarter. Veritable L.P. now owns 10,144 shares of the construction company’s stock worth $504,000 after buying an additional 211 shares during the period. Finally, Achmea Investment Management B.V. grew its position in shares of Masco by 0.5% during the 1st quarter. Achmea Investment Management B.V. now owns 45,871 shares of the construction company’s stock worth $2,280,000 after buying an additional 222 shares during the period. 91.67% of the stock is currently owned by institutional investors and hedge funds.

Masco Trading Down 0.0 %

NYSE MAS opened at $52.20 on Friday. The stock has a market capitalization of $11.75 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 2.62 and a beta of 1.24. The stock’s 50 day moving average price is $56.57 and its two-hundred day moving average price is $54.51. The company has a debt-to-equity ratio of 420.86, a quick ratio of 1.07 and a current ratio of 1.72. Masco Co. has a 52 week low of $42.33 and a 52 week high of $63.85.

Masco (NYSE:MAS – Get Free Report) last released its earnings results on Thursday, July 27th. The construction company reported $1.19 EPS for the quarter, beating the consensus estimate of $0.96 by $0.23. The firm 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 business’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.14 EPS. As a group, analysts anticipate that Masco Co. will post 3.6 earnings per share for the current fiscal year.

Masco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 28th. Stockholders 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 was Thursday, August 10th. Masco’s dividend payout ratio is currently 32.20%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Argus boosted their target price on Masco from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, July 31st. Truist Financial boosted their target price on Masco from $60.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. StockNews.com began coverage on Masco in a report on Thursday. They set a “buy” rating on the stock. Bank of America lifted their price objective on Masco from $57.00 to $59.00 in a report on Friday, July 28th. Finally, Barclays lifted their price objective on Masco from $66.00 to $74.00 in a report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.46.

View Our Latest Stock Report on Masco

Insider Transactions at Masco

In other news, VP Renee Straber sold 41,200 shares of the company’s stock in a transaction that occurred on 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 sale, the vice president now owns 31,995 shares in the company, valued at approximately $1,955,854.35. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, VP Renee Straber sold 41,200 shares of the company’s stock in a transaction that occurred on 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 sale, the vice president now owns 31,995 shares in the company, valued at approximately $1,955,854.35. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Keith J. Allman sold 188,040 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 200,305 shares in the company, valued at approximately $11,972,229.85. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

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.