South Dakota Investment Council Trims Stake in Masco Co. (NYSE:MAS)

South Dakota Investment Council lessened its position in Masco Co. (NYSE:MAS) by 3.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 126,670 shares of the construction company’s stock after selling 5,200 shares during the quarter. South Dakota Investment Council owned approximately 0.06% of Masco worth $8,484,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MAS. HB Wealth Management LLC purchased a new stake in shares of Masco in the 3rd quarter worth about $205,000. Exchange Traded Concepts LLC bought a new position in shares of Masco during the third quarter valued at approximately $66,000. SS&H Financial Advisors Inc. purchased a new position in shares of Masco during the third quarter valued at approximately $408,000. Czech National Bank boosted its position in shares of Masco by 47.5% in the 3rd quarter. Czech National Bank now owns 39,313 shares of the construction company’s stock worth $2,101,000 after purchasing an additional 12,667 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in shares of Masco by 5.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 89,402 shares of the construction company’s stock worth $4,779,000 after buying an additional 4,702 shares during the last quarter. 93.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Masco

In other Masco news, VP Kenneth G. Cole sold 36,210 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $74.65, for a total transaction of $2,703,076.50. Following the sale, the vice president now directly owns 58,885 shares of the company’s stock, valued at $4,395,765.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Richard Allan Marshall sold 5,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $77.05, for a total value of $385,250.00. Following the completion of the sale, the vice president now owns 10,465 shares in the company, valued at approximately $806,328.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Kenneth G. Cole sold 36,210 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $74.65, for a total transaction of $2,703,076.50. Following the transaction, the vice president now owns 58,885 shares in the company, valued at $4,395,765.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,762 shares of company stock valued at $6,337,597. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MAS shares. Royal Bank of Canada raised their price objective on Masco from $73.00 to $79.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Oppenheimer started coverage on shares of Masco in a research note on Friday, January 19th. They set a “market perform” rating on the stock. Truist Financial upped their price target on shares of Masco from $65.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Citigroup raised their price objective on shares of Masco from $74.00 to $79.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Finally, StockNews.com cut shares of Masco from a “buy” rating to a “hold” rating in a research note on Wednesday, March 27th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $69.62.

Masco Price Performance

NYSE:MAS traded down $3.46 during trading hours on Wednesday, reaching $69.55. The stock had a trading volume of 2,939,140 shares, compared to its average volume of 2,049,683. The stock has a market capitalization of $15.34 billion, a PE ratio of 17.12, a PEG ratio of 2.24 and a beta of 1.25. Masco Co. has a 52 week low of $47.66 and a 52 week high of $78.94. The company has a 50 day moving average price of $75.38 and a two-hundred day moving average price of $66.72. The company has a debt-to-equity ratio of 30.05, a quick ratio of 1.08 and a current ratio of 1.68.

Masco (NYSE:MAS) last announced its quarterly earnings results on Wednesday, April 24th. The construction company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.06. Masco had a net margin of 11.40% and a return on equity of 3,111.50%. The company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the business posted $0.87 earnings per share. Masco’s quarterly revenue was down 2.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Masco Co. will post 4.11 earnings per share for the current fiscal year.

Masco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Thursday, February 22nd were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.67%. This is a boost from Masco’s previous quarterly dividend of $0.29. The ex-dividend date was Wednesday, February 21st. Masco’s dividend payout ratio is currently 28.93%.

Masco Company Profile

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.