Bank of Nova Scotia raised its stake in Masco Co. (NYSE:MAS - Free Report) by 118.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 92,781 shares of the construction company's stock after purchasing an additional 50,251 shares during the period. Bank of Nova Scotia's holdings in Masco were worth $6,733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Masco by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 5,129,771 shares of the construction company's stock worth $371,265,000 after buying an additional 58,739 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Masco by 10.2% during the 4th quarter. Van ECK Associates Corp now owns 3,250,400 shares of the construction company's stock valued at $235,881,000 after purchasing an additional 299,520 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Masco by 21.0% in the 4th quarter. Nordea Investment Management AB now owns 2,997,839 shares of the construction company's stock worth $218,063,000 after purchasing an additional 520,555 shares in the last quarter. Invesco Ltd. increased its position in Masco by 14.7% during the 4th quarter. Invesco Ltd. now owns 2,821,629 shares of the construction company's stock valued at $204,766,000 after buying an additional 360,931 shares in the last quarter. Finally, Schroder Investment Management Group raised its stake in Masco by 9.7% in the fourth quarter. Schroder Investment Management Group now owns 2,103,820 shares of the construction company's stock valued at $152,569,000 after buying an additional 185,286 shares during the last quarter. 93.91% of the stock is currently owned by institutional investors.
Masco Price Performance
Shares of MAS stock traded down $0.57 on Tuesday, reaching $61.84. 2,519,085 shares of the company were exchanged, compared to its average volume of 1,706,639. The company has a debt-to-equity ratio of 20.74, a quick ratio of 1.15 and a current ratio of 1.75. Masco Co. has a 1 year low of $55.64 and a 1 year high of $86.70. The company has a market cap of $13.09 billion, a price-to-earnings ratio of 16.45, a P/E/G ratio of 1.94 and a beta of 1.24. The business has a 50-day moving average price of $71.23 and a 200 day moving average price of $76.30.
Masco (NYSE:MAS - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The construction company reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.01. Masco had a net margin of 10.50% and a return on equity of 838.32%. During the same quarter in the prior year, the company posted $0.83 earnings per share. Equities research analysts forecast that Masco Co. will post 4.34 earnings per share for the current fiscal year.
Masco Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 21st were given a $0.31 dividend. The ex-dividend date was Friday, February 21st. This represents a $1.24 dividend on an annualized basis and a yield of 2.01%. This is a boost from Masco's previous quarterly dividend of $0.29. Masco's dividend payout ratio is presently 32.98%.
Wall Street Analyst Weigh In
A number of analysts recently commented on MAS shares. 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. Zelman & Associates upgraded shares of Masco to a "strong-buy" rating in a research note on Friday, January 17th. UBS Group reduced their target price on Masco from $94.00 to $91.00 and set a "buy" rating for the company in a research note on Wednesday, February 12th. Barclays cut their price objective on Masco from $87.00 to $75.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, The Goldman Sachs Group upped their target price on Masco from $85.00 to $96.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Ten investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $83.37.
Read Our Latest Report on MAS
Insiders Place Their Bets
In other Masco news, VP Renee Straber sold 3,139 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $71.78, for a total value of $225,317.42. Following the sale, the vice president now owns 33,027 shares of the company's stock, valued at $2,370,678.06. The trade was a 8.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Keith J. Allman sold 21,723 shares of the firm's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $76.36, for a total value of $1,658,768.28. Following the transaction, the chief executive officer now owns 60,267 shares of the company's stock, valued at approximately $4,601,988.12. This represents a 26.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.
About Masco
(
Free Report)
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.
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