DekaBank Deutsche Girozentrale acquires 22,976 shares of Masco Co. (NYSE: MAS)
DekaBank Deutsche Girozentrale increased its holdings of Masco Co. (NYSE:MAS – Get Rating) stock by 1.8% during the fourth quarter, according to its latest 13F filing with the SEC. The institutional investor held 1,290,442 shares of the construction company after purchasing an additional 22,976 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.53% of Masco worth $90,028,000 when it last filed with the SEC.
Several other institutional investors also bought and sold shares of the company. First Trust Advisors LP acquired a new stake in Masco in Q1 worth $1,280,000. Morgan Stanley increased its position in Masco by 11.9% in the second quarter. Morgan Stanley now owns 936,129 shares of the construction company valued at $55,148,000 after purchasing an additional 99,681 shares during the period. Bank of America Corp DE increased its position in Masco by 9.6% in the second quarter. Bank of America Corp DE now owns 2,556,511 shares of the construction company valued at $150,605,000 after purchasing an additional 223,895 shares during the period. Private Advisor Group LLC increased its position in Masco by 44.4% in the third quarter. Private Advisor Group LLC now owns 16,245 shares of the construction company valued at $903,000 after purchasing an additional 4,992 shares during the period. Finally, Avantax Advisory Services Inc. acquired a new stake in Masco in the 3rd quarter at a value of $464,000. Hedge funds and other institutional investors hold 92.35% of the company’s shares.
In other Masco news, Chief Financial Officer John G. Sznewajs sold 12,447 shares in a trade on Wednesday, February 9. The stock was sold at an average price of $60.25, for a total value of $749,931.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC’s website. Additionally, CEO Keith J. Allman sold 43,884 shares in a trade on Wednesday, February 9. The stock was sold at an average price of $60.68, for a total value of $2,662,881.12. The disclosure of this sale can be found here. In the past 90 days, insiders have sold 94,842 shares of the company valued at $5,990,173. 1.20% of the shares are held by insiders.
A number of research companies have published reports on MAS. Barclays cut its price target on Masco shares from $75.00 to $68.00 in a Thursday, March 31 report. Credit Suisse Group issued a hedge on Masco shares in a Tuesday, April 5 report. They set an “underperforming” rating and a price target of $50.00 for the stock. JPMorgan Chase & Co. downgraded Masco from an “underweight” to a “neutral” rating and lowered its target price for the stock from $72.50 to $62.00 in a research note from the Wednesday March 30. Truist Financial raised its price target on Masco from $75.00 to $80.00 and gave the stock a “buy” rating in a Wednesday, Jan. 5 research note. Finally, TheStreet upgraded Masco from a “b-” rating to a “c” rating in a Friday, February 11 research note. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned the company’s stock a buy rating. According to data from MarketBeat, Masco currently has an average rating of “Buy” and a consensus target price of $69.92.
MAS stock traded down $0.01 at midday on Friday, hitting $50.67. The company had a trading volume of 1,968,586 shares, compared to an average volume of 2,521,447. The company has a current ratio of 1.76, a quick ratio of 1.14 and a debt ratio of 52, 66. Masco Co. has a 52-week low of $49.78 and a 52-week high of $71.06. The stock’s 50-day moving average price is $55.72 and its 200-day moving average price is $61.47. The stock has a market capitalization of $11.98 billion, a price/earnings ratio of 30.90, a PEG ratio of 1.08 and a beta of 1.35.
Masco (NYSE:MAS – Get Rating) last reported quarterly earnings data on Tuesday, February 8. The construction company reported earnings per share of $0.67 for the quarter, missing Thomson Reuters’ consensus estimate of $0.71 per ($0.04). Masco had a net margin of 4.90% and a return on equity of 856.22%. The company posted revenue of $2.02 billion in the quarter, versus a consensus estimate of $1.95 billion. In the same quarter a year earlier, the company posted EPS of $0.75. The company’s revenue for the quarter increased by 8.7% compared to the same quarter last year. Analysts predict Masco Co. will post earnings per share of 4.18 for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, March 14. Investors of record on Friday, February 25 received a dividend of $0.28 per share. This represents a dividend of $1.12 on an annualized basis and a dividend yield of 2.21%. The ex-dividend date was Thursday, February 24. This is an increase from Masco’s previous quarterly dividend of $0.24. Masco’s dividend payout ratio is currently 68.29%.
Masco Company Profile (Get an assessment)
Masco Corporation designs, manufactures and distributes renovation and construction products in North America, Europe and internationally. The Company’s Plumbing Products segment offers faucets, shower heads, hand showers, valves, bath hardware and accessories, bath units, shower bases and enclosures, sinks, toilets, acrylic bathtubs, shower trays, spas, exercise pools and fitness systems; brass, copper and composite plumbing system components; connected water products; thermoplastic solutions, extruded plastic profiles, specialty fabrications and PEX piping products; and other non-decorative plumbing products.
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