KLP Kapitalforvaltning AS Invests $5.54 Million in Masco Co. (NYSE:MAS)

KLP Kapitalforvaltning AS purchased a new position in shares of Masco Co. (NYSE:MAS - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 76,366 shares of the construction company's stock, valued at approximately $5,542,000.

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

Insider Activity

In related news, CEO Keith J. Allman sold 21,723 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 60,267 shares in the company, valued at approximately $4,601,988.12. This represents a 26.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Renee Straber sold 3,139 shares of Masco 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 completion of the sale, the vice president now directly owns 33,027 shares in the company, valued at approximately $2,370,678.06. This represents a 8.68 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

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Analysts Set New Price Targets

MAS has been the subject of a number of analyst reports. Citigroup lowered their target price on shares of Masco from $82.00 to $77.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. The Goldman Sachs Group boosted their price objective on Masco from $85.00 to $96.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Barclays upped their target price on Masco from $84.00 to $87.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $74.00 target price on shares of Masco in a report on Wednesday, February 12th. Finally, Jefferies Financial Group cut Masco from a "buy" rating to a "hold" rating and cut their price target for the stock from $96.00 to $89.00 in a report on Monday, December 16th. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Masco has an average rating of "Moderate Buy" and an average price target of $86.32.

Masco Stock Down 2.6 %

Shares of NYSE:MAS traded down $1.83 during midday trading on Friday, hitting $68.63. 1,142,718 shares of the company's stock were exchanged, compared to its average volume of 1,651,182. The company has a debt-to-equity ratio of 20.74, a current ratio of 1.75 and a quick ratio of 1.15. Masco Co. has a 12 month low of $63.81 and a 12 month high of $86.70. The company has a market cap of $14.55 billion, a PE ratio of 18.25, a price-to-earnings-growth ratio of 1.94 and a beta of 1.24. The stock has a 50 day moving average price of $75.24 and a 200-day moving average price of $77.92.

Masco (NYSE:MAS - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The construction company reported $0.89 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.01. Masco had a return on equity of 838.32% and a net margin of 10.50%. During the same quarter last year, the company posted $0.83 earnings per share. On average, sell-side analysts anticipate that Masco Co. will post 4.34 EPS for the current fiscal year.

Masco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 21st were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Friday, February 21st. This is an increase from Masco's previous quarterly dividend of $0.29. Masco's payout ratio is presently 32.98%.

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.