2,388 Shares in Masco Co. (NYSE:MAS) Bought by First Commonwealth Financial Corp PA

First Commonwealth Financial Corp PA bought a new position in Masco Co. (NYSE:MAS) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,388 shares of the construction company’s stock, valued at approximately $200,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC bought a new stake in Masco in the 2nd quarter valued at approximately $82,363,000. Assenagon Asset Management S.A. lifted its position in shares of Masco by 956.3% in the third quarter. Assenagon Asset Management S.A. now owns 989,640 shares of the construction company’s stock worth $83,070,000 after purchasing an additional 895,950 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Masco by 66.5% during the second quarter. Acadian Asset Management LLC now owns 1,823,934 shares of the construction company’s stock worth $121,581,000 after purchasing an additional 728,690 shares during the last quarter. Bank of Montreal Can grew its position in Masco by 86.5% in the second quarter. Bank of Montreal Can now owns 634,740 shares of the construction company’s stock valued at $42,318,000 after purchasing an additional 294,409 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its stake in Masco by 89.5% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 579,597 shares of the construction company’s stock valued at $38,642,000 after buying an additional 273,718 shares during the last quarter. 93.91% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Kenneth G. Cole sold 37,814 shares of the business’s 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 transaction, the vice president now owns 36,980 shares in the company, valued at $2,896,273.60. The trade was a 50.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.

Masco Trading Down 0.4 %

Shares of NYSE MAS opened at $80.41 on Thursday. The stock has a market cap of $17.35 billion, a P/E ratio of 21.39, a price-to-earnings-growth ratio of 2.66 and a beta of 1.24. The firm has a 50 day moving average price of $81.77 and a two-hundred day moving average price of $75.63. The company has a debt-to-equity ratio of 20.74, a quick ratio of 1.21 and a current ratio of 1.83. Masco Co. has a 52-week low of $58.91 and a 52-week high of $86.70.

Masco (NYSE:MAS) last announced its earnings results on Tuesday, October 29th. The construction company reported $1.08 EPS for the quarter, hitting the consensus estimate of $1.08. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $2 billion. Masco had a return on equity of 615.54% and a net margin of 10.54%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.00 EPS. As a group, equities analysts forecast that Masco Co. will post 4.09 EPS for the current year.

Masco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Friday, November 8th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.16 annualized dividend and a yield of 1.44%. Masco’s payout ratio is 30.85%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MAS. Jefferies Financial Group upped their target price on Masco from $89.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Robert W. Baird cut their price objective on Masco from $95.00 to $94.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Truist Financial boosted their target price on shares of Masco from $84.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. upped their price target on shares of Masco from $80.00 to $83.50 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Finally, BMO Capital Markets lifted their price objective on shares of Masco from $78.00 to $85.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $85.96.

Masco 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.