Eagle Asset Management Inc. Reduces Stock Position in Masco Co. (NYSE:MAS)

Eagle Asset Management Inc. decreased its stake in Masco Co. (NYSE:MAS - Free Report) by 14.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 39,933 shares of the construction company's stock after selling 6,825 shares during the quarter. Eagle Asset Management Inc.'s holdings in Masco were worth $3,233,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Manning & Napier Advisors LLC bought a new stake in Masco in the second quarter worth about $82,363,000. Assenagon Asset Management S.A. raised its holdings in shares of Masco by 956.3% in the third quarter. Assenagon Asset Management S.A. now owns 989,640 shares of the construction company's stock worth $83,070,000 after buying an additional 895,950 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Masco by 66.5% during the 2nd quarter. Acadian Asset Management LLC now owns 1,823,934 shares of the construction company's stock worth $121,581,000 after acquiring an additional 728,690 shares during the last quarter. Bank of Montreal Can boosted its holdings in Masco by 86.5% during the 2nd quarter. Bank of Montreal Can now owns 634,740 shares of the construction company's stock valued at $42,318,000 after acquiring an additional 294,409 shares during the period. Finally, Teachers Retirement System of The State of Kentucky grew its position in Masco by 89.5% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 579,597 shares of the construction company's stock valued at $38,642,000 after acquiring an additional 273,718 shares during the last quarter. Hedge funds and other institutional investors own 93.91% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Truist Financial lifted their target price on Masco from $84.00 to $92.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Evercore ISI lifted their price objective on shares of Masco from $78.00 to $82.00 and gave the company an "in-line" rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on shares of Masco from $80.00 to $83.50 and gave the stock a "neutral" rating in a research note on Tuesday, November 5th. Loop Capital raised their target price on shares of Masco from $76.00 to $87.00 and gave the stock a "hold" rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company boosted their price target on Masco from $90.00 to $92.00 and gave the company an "overweight" rating in a report on Monday, October 7th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $85.96.

Insider Transactions at Masco

In related news, VP Kenneth G. Cole sold 37,814 shares of the stock in a transaction that occurred on 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 directly owns 36,980 shares of the company's stock, valued at $2,896,273.60. This trade represents a 50.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.10% of the company's stock.

Masco Stock Down 1.8 %

Shares of NYSE MAS traded down $1.47 during mid-day trading on Tuesday, reaching $80.70. 1,435,945 shares of the company were exchanged, compared to its average volume of 1,798,624. The firm has a 50-day moving average of $81.78 and a 200 day moving average of $75.57. Masco Co. has a 1 year low of $58.91 and a 1 year high of $86.70. The company has a quick ratio of 1.21, a current ratio of 1.83 and a debt-to-equity ratio of 20.74. The stock has a market cap of $17.41 billion, a price-to-earnings ratio of 21.47, a P/E/G ratio of 2.56 and a beta of 1.24.

Masco (NYSE:MAS - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.08 earnings per share for the quarter, meeting analysts' consensus estimates of $1.08. Masco had a net margin of 10.54% and a return on equity of 615.54%. The business had revenue of $1.98 billion for the quarter, compared to analysts' expectations of $2 billion. During the same period last year, the business earned $1.00 EPS. The company's revenue was up .2% compared to the same quarter last year. On average, research analysts expect that Masco Co. will post 4.09 earnings per share for the current year.

Masco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Friday, November 8th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date was Friday, November 8th. Masco's payout ratio is presently 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.