Allstate Corp Buys Shares of 6,394 Masco Co. (NYSE:MAS)

Allstate Corp bought a new stake in Masco Co. (NYSE:MAS - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,394 shares of the construction company's stock, valued at approximately $464,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. ORG Wealth Partners LLC purchased a new position in shares of Masco in the 4th quarter worth $27,000. Golden State Wealth Management LLC purchased a new position in shares of Masco in the 4th quarter worth about $27,000. Kestra Investment Management LLC acquired a new position in shares of Masco in the 4th quarter valued at about $30,000. Lee Danner & Bass Inc. purchased a new stake in shares of Masco during the 4th quarter worth about $42,000. Finally, MassMutual Private Wealth & Trust FSB increased its position in Masco by 26.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 703 shares of the construction company's stock worth $51,000 after purchasing an additional 148 shares in the last quarter. Institutional investors and hedge funds own 93.91% of the company's stock.

Masco Stock Down 2.0 %

Shares of MAS stock traded down $1.30 during mid-day trading on Friday, reaching $62.85. 4,248,558 shares of the company were exchanged, compared to its average volume of 1,675,235. The company has a market capitalization of $13.30 billion, a P/E ratio of 16.72, a P/E/G ratio of 1.94 and a beta of 1.24. The business's 50 day simple moving average is $74.10 and its 200 day simple moving average is $77.45. The company has a debt-to-equity ratio of 20.74, a quick ratio of 1.15 and a current ratio of 1.75. Masco Co. has a fifty-two week low of $60.29 and a fifty-two week high of $86.70.

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Masco (NYSE:MAS - Get Free Report) last released its earnings results on Tuesday, February 11th. The construction company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. Masco had a net margin of 10.50% and a return on equity of 838.32%. During the same period in the prior year, the company posted $0.83 earnings per share. Research analysts predict that Masco Co. will post 4.34 earnings per share for the current year.

Masco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 21st were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date was Friday, February 21st. This is an increase from Masco's previous quarterly dividend of $0.29. Masco's dividend payout ratio (DPR) is currently 32.98%.

Insider Transactions at Masco

In related news, VP Renee Straber sold 3,139 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $71.78, for a total transaction of $225,317.42. Following the transaction, the vice president now directly owns 33,027 shares in the company, valued at $2,370,678.06. This trade represents a 8.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Keith J. Allman sold 21,723 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $76.36, for a total transaction of $1,658,768.28. Following the sale, the chief executive officer now owns 60,267 shares of the company's stock, valued at approximately $4,601,988.12. The trade was a 26.49 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MAS shares. Zelman & Associates raised shares of Masco to a "strong-buy" rating in a research report on Friday, January 17th. Barclays upped their price target on shares of Masco from $84.00 to $87.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Royal Bank of Canada reissued a "sector perform" rating and issued a $74.00 price objective on shares of Masco in a research report on Wednesday, February 12th. Jefferies Financial Group downgraded Masco from a "buy" rating to a "hold" rating and decreased their target price for the stock from $96.00 to $89.00 in a research report on Monday, December 16th. Finally, Citigroup dropped their target price on Masco from $82.00 to $77.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. Ten research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $85.30.

Masco Profile

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.