Eagle Asset Management Inc. Has $3.23 Million Position in Masco Co. (NYSE:MAS)

Eagle Asset Management Inc. reduced its stake in Masco Co. (NYSE:MAS) by 14.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,933 shares of the construction company’s stock after selling 6,825 shares during the period. Eagle Asset Management Inc.’s holdings in Masco were worth $3,233,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. BOKF NA raised its position in shares of Masco by 2.5% during the first quarter. BOKF NA now owns 6,178 shares of the construction company’s stock worth $480,000 after purchasing an additional 149 shares during the period. Caxton Associates LP lifted its stake in shares of Masco by 27.6% in the first quarter. Caxton Associates LP now owns 4,302 shares of the construction company’s stock valued at $339,000 after buying an additional 931 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Masco by 268.0% during the first quarter. Jacobs Levy Equity Management Inc. now owns 152,699 shares of the construction company’s stock valued at $12,045,000 after buying an additional 111,208 shares during the last quarter. Dynasty Wealth Management LLC bought a new stake in shares of Masco during the first quarter worth about $740,000. Finally, B. Riley Wealth Advisors Inc. raised its holdings in shares of Masco by 11.9% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 6,619 shares of the construction company’s stock worth $522,000 after acquiring an additional 703 shares during the last quarter. Institutional investors and hedge funds own 93.91% of the company’s stock.

Insider Buying and Selling

In related news, VP Kenneth G. Cole sold 37,814 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $78.32, for a total transaction 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 50.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MAS. Truist Financial lifted their price target on Masco from $84.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Barclays upped their price target on Masco from $92.00 to $93.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Wells Fargo & Company raised their price objective on Masco from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Loop Capital upped their target price on shares of Masco from $76.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised their price target on shares of Masco from $80.00 to $83.50 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $85.96.

Masco Price Performance

Masco stock opened at $82.16 on Tuesday. 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 business’s 50 day simple moving average is $81.78 and its 200 day simple moving average is $75.57. Masco Co. has a 12 month low of $58.91 and a 12 month high of $86.70. The company has a market cap of $17.73 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 2.56 and a beta of 1.24.

Masco (NYSE:MAS) last posted its quarterly 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 return on equity of 615.54% and a net margin of 10.54%. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $2 billion. During the same quarter in the prior year, the company earned $1.00 EPS. The firm’s quarterly revenue was up .2% compared to the same quarter last year. Sell-side analysts forecast that Masco Co. will post 4.09 EPS for the current year.

Masco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Friday, November 8th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Friday, November 8th. Masco’s dividend payout ratio (DPR) is presently 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.