Masco Co. (NYSE:MAS) Shares Sold by Citigroup Inc.

Citigroup Inc. lowered its stake in Masco Co. (NYSE:MAS - Free Report) by 11.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 319,351 shares of the construction company's stock after selling 40,097 shares during the period. Citigroup Inc. owned approximately 0.15% of Masco worth $26,806,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. purchased a new position in Masco in the first quarter worth about $25,000. Innealta Capital LLC purchased a new position in Masco in the second quarter worth about $25,000. Family Firm Inc. purchased a new position in Masco in the second quarter worth about $30,000. Massmutual Trust Co. FSB ADV grew its position in Masco by 46.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the construction company's stock worth $38,000 after acquiring an additional 179 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in Masco in the third quarter worth about $38,000. Hedge funds and other institutional investors own 93.91% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on MAS. Jefferies Financial Group boosted their target price on Masco from $89.00 to $96.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Truist Financial boosted their target price on Masco from $84.00 to $92.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Royal Bank of Canada downgraded shares of Masco from an "outperform" rating to a "sector perform" rating and boosted their price objective for the stock from $79.00 to $80.00 in a research note on Wednesday, October 30th. Evercore ISI upped their price target on Masco from $78.00 to $82.00 and gave the stock an "in-line" rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their price target on Masco from $80.00 to $83.50 and gave the stock a "neutral" rating in a research report on Tuesday, November 5th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $85.96.

Insider Buying and Selling at Masco

In other Masco news, VP Kenneth G. Cole sold 37,814 shares of the company's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $78.32, for a total value of $2,961,592.48. Following the completion of the transaction, the vice president now owns 36,980 shares in the company, valued at approximately $2,896,273.60. This represents a 50.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.10% of the stock is owned by corporate insiders.

Masco Stock Performance

Shares of MAS traded down $1.47 during trading hours on Tuesday, reaching $80.70. 1,435,945 shares of the company traded hands, compared to its average volume of 1,798,624. The stock has a market capitalization of $17.41 billion, a P/E ratio of 21.47, a P/E/G ratio of 2.56 and a beta of 1.24. The company has a quick ratio of 1.21, a current ratio of 1.83 and a debt-to-equity ratio of 20.74. Masco Co. has a 12-month low of $58.91 and a 12-month high of $86.70. The business has a fifty day moving average price of $81.78 and a 200-day moving average price of $75.57.

Masco (NYSE:MAS - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.08 EPS for the quarter, meeting the consensus estimate of $1.08. Masco had a net margin of 10.54% and a return on equity of 615.54%. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $2 billion. During the same period in the prior year, the company earned $1.00 earnings per share. The firm's revenue was up .2% on a year-over-year basis. Equities analysts anticipate that Masco Co. will post 4.09 EPS for the current fiscal year.

Masco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Friday, November 8th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend was Friday, November 8th. Masco's payout ratio is 30.85%.

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.