CANADA LIFE ASSURANCE Co Lowers Position in Masco Co. (NYSE:MAS)

CANADA LIFE ASSURANCE Co trimmed its holdings in shares of Masco Co. (NYSE:MAS - Free Report) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 236,185 shares of the construction company's stock after selling 12,082 shares during the period. CANADA LIFE ASSURANCE Co owned 0.11% of Masco worth $17,133,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. ORG Wealth Partners LLC acquired a new position in Masco during the fourth quarter valued at approximately $27,000. Golden State Wealth Management LLC acquired a new position in shares of Masco in the 4th quarter valued at $27,000. Kestra Investment Management LLC bought a new stake in shares of Masco in the 4th quarter valued at $30,000. Lee Danner & Bass Inc. acquired a new stake in Masco during the 4th quarter worth $42,000. Finally, MassMutual Private Wealth & Trust FSB raised its stake 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 buying an additional 148 shares during the period. 93.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Jefferies Financial Group dropped their target price on shares of Masco from $64.00 to $62.00 and set a "hold" rating on the stock in a report on Wednesday. Barclays set a $71.00 price target on Masco and gave the company an "overweight" rating in a report on Thursday. Truist Financial dropped their target price on Masco from $92.00 to $75.00 and set a "buy" rating on the stock in a research report on Thursday. Oppenheimer raised shares of Masco from a "market perform" rating to an "outperform" rating and set a $89.00 price target for the company in a research note on Friday, January 10th. Finally, Royal Bank of Canada lowered their price target on shares of Masco from $74.00 to $62.00 and set a "sector perform" rating on the stock in a research note on Thursday. Ten investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $73.10.

Masco Price Performance

Masco stock traded up $0.11 during trading hours on Friday, reaching $60.41. 2,892,852 shares of the stock were exchanged, compared to its average volume of 1,731,837. The stock has a 50 day moving average of $68.53 and a two-hundred day moving average of $75.16. The company has a market cap of $12.79 billion, a P/E ratio of 16.07, a price-to-earnings-growth ratio of 1.94 and a beta of 1.24. The company has a current ratio of 1.75, a quick ratio of 1.15 and a debt-to-equity ratio of 20.74. Masco Co. has a twelve month low of $56.55 and a twelve month high of $86.70.

Masco (NYSE:MAS - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The construction company reported $0.87 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.05). The company had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.84 billion. Masco had a return on equity of 838.32% and a net margin of 10.50%. Equities analysts expect that Masco Co. will post 4.34 EPS for the current fiscal year.

Masco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 21st were issued a dividend of $0.31 per share. This is a boost from Masco's previous quarterly dividend of $0.29. This represents a $1.24 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend was Friday, February 21st. Masco's payout ratio is 32.98%.

Insider Activity

In related news, 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 transaction, the chief executive officer now owns 60,267 shares in the company, valued at $4,601,988.12. The trade was a 26.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Renee Straber sold 3,139 shares of the stock in a transaction dated 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 position. The disclosure for this sale can be found here. Insiders own 0.50% of the company's stock.

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.