Royal London Asset Management Ltd. Has $5.89 Million Stock Position in Masco Co. (NYSE:MAS)

Royal London Asset Management Ltd. cut its position in Masco Co. (NYSE:MAS - Free Report) by 18.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 88,315 shares of the construction company's stock after selling 20,141 shares during the quarter. Royal London Asset Management Ltd.'s holdings in Masco were worth $5,888,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MAS. Norges Bank acquired a new position in Masco during the fourth quarter valued at approximately $122,144,000. Intech Investment Management LLC acquired a new position in shares of Masco during the 4th quarter worth $975,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Masco by 14.3% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 542,096 shares of the construction company's stock worth $42,245,000 after buying an additional 67,806 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Masco in the first quarter valued at about $1,903,000. Finally, Manning & Napier Advisors LLC bought a new position in Masco in the second quarter valued at about $82,363,000. Institutional investors own 93.91% of the company's stock.

Masco Trading Up 1.6 %

NYSE MAS traded up $1.29 during mid-day trading on Friday, reaching $80.21. 951,399 shares of the stock were exchanged, compared to its average volume of 1,886,729. The stock has a market cap of $17.51 billion, a P/E ratio of 19.66, a P/E/G ratio of 2.45 and a beta of 1.24. The company has a debt-to-equity ratio of 16.18, a current ratio of 1.76 and a quick ratio of 1.12. Masco Co. has a one year low of $47.66 and a one year high of $81.91. The stock has a 50 day simple moving average of $75.28 and a 200-day simple moving average of $72.91.

Masco (NYSE:MAS - Get Free Report) last announced its quarterly earnings data on Thursday, July 25th. The construction company reported $1.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.02. Masco had a return on equity of 602.39% and a net margin of 11.59%. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same period in the previous year, the business earned $1.19 EPS. The firm's revenue was down 1.7% compared to the same quarter last year. On average, analysts anticipate that Masco Co. will post 4.11 EPS for the current year.

Masco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 2nd were paid a $0.29 dividend. The ex-dividend date was Friday, August 2nd. This represents a $1.16 annualized dividend and a dividend yield of 1.45%. Masco's dividend payout ratio is currently 28.43%.

Insider Activity at Masco

In other Masco news, VP Kenneth G. Cole sold 37,814 shares of Masco 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 completion of the sale, the vice president now directly owns 36,980 shares of the company's stock, valued at $2,896,273.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Barclays raised their price target on shares of Masco from $79.00 to $88.00 and gave the company an "overweight" rating in a research note on Friday, July 26th. Truist Financial boosted their target price on shares of Masco from $81.00 to $84.00 and gave the stock a "buy" rating in a research note on Friday, July 26th. Royal Bank of Canada increased their price target on Masco from $78.00 to $79.00 and gave the company an "outperform" rating in a research note on Friday, July 26th. Robert W. Baird boosted their price objective on Masco from $84.00 to $88.00 and gave the stock an "outperform" rating in a research report on Friday, July 26th. Finally, Citigroup dropped their target price on Masco from $73.00 to $66.00 and set a "neutral" rating for the company in a research report on Thursday, July 11th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, Masco presently has a consensus rating of "Moderate Buy" and a consensus target price of $77.58.

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.