Principal Financial Group Inc. grew its stake in Masco Co. (NYSE:MAS - Free Report) by 2.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 263,155 shares of the construction company's stock after buying an additional 7,089 shares during the period. Principal Financial Group Inc. owned 0.12% of Masco worth $22,089,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. New Covenant Trust Company N.A. purchased a new position in shares of Masco during the first quarter worth about $25,000. Innealta Capital LLC purchased a new position in Masco during the 2nd quarter worth approximately $25,000. Family Firm Inc. acquired a new position in Masco during the second quarter worth approximately $30,000. Massmutual Trust Co. FSB ADV lifted its stake in Masco by 46.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the construction company's stock valued at $38,000 after buying an additional 179 shares during the last quarter. Finally, LRI Investments LLC boosted its holdings in shares of Masco by 850.8% in the second quarter. LRI Investments LLC now owns 599 shares of the construction company's stock valued at $40,000 after acquiring an additional 536 shares during the period. 93.91% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Masco news, VP Kenneth G. Cole sold 37,814 shares of the company's stock in a transaction on 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 sale, the vice president now owns 36,980 shares of the company's stock, valued at approximately $2,896,273.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by company insiders.
Masco Price Performance
Shares of NYSE:MAS traded up $0.15 on Thursday, reaching $79.40. 941,993 shares of the company were exchanged, compared to its average volume of 1,796,986. The company has a 50-day moving average of $81.80 and a 200-day moving average of $75.05. The company has a current ratio of 1.83, a quick ratio of 1.21 and a debt-to-equity ratio of 20.74. The firm has a market cap of $17.13 billion, a price-to-earnings ratio of 21.08, a price-to-earnings-growth ratio of 2.56 and a beta of 1.24. Masco Co. has a 1-year low of $58.89 and a 1-year high of $86.70.
Masco (NYSE:MAS - Get Free Report) last issued its earnings results on Tuesday, October 29th. The construction company reported $1.08 earnings per share for the quarter, hitting the consensus estimate of $1.08. Masco had a net margin of 10.54% and a return on equity of 615.54%. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $2 billion. During the same period in the prior year, the business posted $1.00 earnings per share. The firm's revenue for the quarter was up .2% compared to the same quarter last year. Equities analysts forecast that Masco Co. will post 4.09 earnings per share for the current fiscal year.
Masco Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be issued 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 1.46%. Masco's dividend payout ratio is presently 30.85%.
Analysts Set New Price Targets
A number of equities analysts have recently commented on MAS shares. Truist Financial lifted their target price on shares of Masco from $84.00 to $92.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Barclays upped their target price on shares of Masco from $92.00 to $93.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Robert W. Baird lowered their price target on Masco from $95.00 to $94.00 and set an "outperform" rating on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on Masco from $80.00 to $83.50 and gave the company a "neutral" rating in a research report on Tuesday, November 5th. Finally, StockNews.com upgraded Masco from a "hold" rating to a "buy" rating in a research note on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Masco presently has a consensus rating of "Moderate Buy" and a consensus target price of $85.96.
View Our Latest Stock Report on MAS
Masco Company Profile
(
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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