ING Groep NV Increases Stake in Masco Co. (NYSE:MAS)

ING Groep NV increased its stake in shares of Masco Co. (NYSE:MAS - Free Report) by 70.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 50,489 shares of the construction company's stock after purchasing an additional 20,852 shares during the quarter. ING Groep NV's holdings in Masco were worth $4,238,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Metis Global Partners LLC lifted its holdings in shares of Masco by 1.9% in the 3rd quarter. Metis Global Partners LLC now owns 7,031 shares of the construction company's stock worth $590,000 after acquiring an additional 133 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Masco by 10.6% in the third quarter. Oppenheimer Asset Management Inc. now owns 157,513 shares of the construction company's stock worth $13,222,000 after purchasing an additional 15,070 shares during the last quarter. Haverford Trust Co lifted its stake in Masco by 1.0% in the third quarter. Haverford Trust Co now owns 460,559 shares of the construction company's stock worth $38,659,000 after purchasing an additional 4,368 shares during the last quarter. Empower Advisory Group LLC grew its stake in shares of Masco by 1.5% during the third quarter. Empower Advisory Group LLC now owns 995,950 shares of the construction company's stock valued at $83,600,000 after buying an additional 14,870 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Masco by 8.6% during the third quarter. Victory Capital Management Inc. now owns 922,566 shares of the construction company's stock valued at $77,440,000 after buying an additional 73,405 shares during the last quarter. Hedge funds and other institutional investors own 93.91% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on MAS shares. JPMorgan Chase & Co. boosted their price objective on Masco from $80.00 to $83.50 and gave the company a "neutral" rating in a report on Tuesday, November 5th. BMO Capital Markets raised their price target on shares of Masco from $78.00 to $85.00 and gave the stock a "market perform" rating in a research note on Tuesday, October 22nd. Evercore ISI boosted their price objective on shares of Masco from $78.00 to $82.00 and gave the company an "in-line" rating in a research report on Wednesday, October 30th. StockNews.com lowered shares of Masco from a "buy" rating to a "hold" rating in a research report on Friday. Finally, Truist Financial boosted their price target on Masco from $84.00 to $92.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $85.96.

Masco Stock Down 1.0 %

Masco stock traded down $0.77 during trading hours on Friday, reaching $78.42. The stock had a trading volume of 1,181,071 shares, compared to its average volume of 1,800,371. The company has a market cap of $16.92 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 2.57 and a beta of 1.24. The business's 50 day moving average price is $81.86 and its 200-day moving average price is $75.14. Masco Co. has a 52 week low of $58.89 and a 52 week high of $86.70. The company has a debt-to-equity ratio of 20.74, a current ratio of 1.83 and a quick ratio of 1.21.

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

Masco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Friday, November 8th. Masco's dividend payout ratio (DPR) is presently 30.85%.

Insider Activity at Masco

In other news, VP Kenneth G. Cole sold 37,814 shares of the company's stock in a transaction 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 sale, the vice president now directly owns 36,980 shares of the company's stock, valued at $2,896,273.60. This represents a 50.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by insiders.

Masco Company 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.