Masco Co. (NYSE:MAS) Shares Acquired by Montecito Bank & Trust

Montecito Bank & Trust raised its position in shares of Masco Co. (NYSE:MAS - Free Report) by 125.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,778 shares of the construction company's stock after acquiring an additional 6,553 shares during the period. Montecito Bank & Trust's holdings in Masco were worth $989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of MAS. Vanguard Group Inc. increased its stake in Masco by 2.8% during the first quarter. Vanguard Group Inc. now owns 26,300,591 shares of the construction company's stock worth $2,074,591,000 after acquiring an additional 721,117 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Masco by 1.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 9,830,723 shares of the construction company's stock valued at $655,414,000 after purchasing an additional 181,515 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Masco by 0.9% during the 3rd quarter. Van ECK Associates Corp now owns 2,950,880 shares of the construction company's stock valued at $241,825,000 after purchasing an additional 26,259 shares during the last quarter. Impax Asset Management Group plc grew its stake in shares of Masco by 10.0% during the second quarter. Impax Asset Management Group plc now owns 2,855,056 shares of the construction company's stock worth $190,347,000 after acquiring an additional 259,205 shares during the last quarter. Finally, Earnest Partners LLC raised its position in shares of Masco by 16.6% in the 1st quarter. Earnest Partners LLC now owns 2,245,644 shares of the construction company's stock valued at $177,136,000 after purchasing an additional 319,029 shares during the last quarter. 93.91% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Kenneth G. Cole sold 37,814 shares of the company's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $78.32, for a total value of $2,961,592.48. Following the completion of 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 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.10% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on MAS. JPMorgan Chase & Co. upped their price target on shares of Masco from $80.00 to $83.50 and gave the company a "neutral" rating in a research note on Tuesday. StockNews.com upgraded Masco from a "hold" rating to a "buy" rating in a research note on Thursday. Jefferies Financial Group boosted their price target on Masco from $89.00 to $96.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Barclays raised their price objective on Masco from $92.00 to $93.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird lowered their price target on shares of Masco from $95.00 to $94.00 and set an "outperform" rating on the stock in a report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $85.96.

Masco Price Performance

Shares of NYSE:MAS traded up $0.85 during trading on Friday, reaching $81.09. The stock had a trading volume of 871,353 shares, compared to its average volume of 1,802,442. The business has a fifty day moving average price of $81.71 and a 200-day moving average price of $74.77. Masco Co. has a 1-year low of $55.13 and a 1-year high of $86.70. The company has a debt-to-equity ratio of 20.74, a quick ratio of 1.21 and a current ratio of 1.83. The stock has a market cap of $17.50 billion, a PE ratio of 21.34, a PEG ratio of 2.62 and a beta of 1.24.

Masco (NYSE:MAS - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.08 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.08. The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $2 billion. Masco had a return on equity of 615.54% and a net margin of 10.54%. The business's revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.00 earnings per share. On average, equities analysts forecast that Masco Co. will post 4.1 earnings per share for the current fiscal year.

Masco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.16 annualized dividend and a yield of 1.43%. Masco's dividend payout ratio (DPR) 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.