PNC Financial Services Group Inc. Boosts Stock Holdings in Masco Co. (NYSE:MAS)

PNC Financial Services Group Inc. raised its stake in shares of Masco Co. (NYSE:MAS) by 5.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 83,459 shares of the construction company’s stock after purchasing an additional 4,620 shares during the period. PNC Financial Services Group Inc.’s holdings in Masco were worth $7,006,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. New Covenant Trust Company N.A. purchased a new position in Masco during the 1st quarter valued at approximately $25,000. Innealta Capital LLC bought a new stake in Masco in the second quarter worth $25,000. Family Firm Inc. bought a new stake in Masco in the second quarter worth $30,000. Massmutual Trust Co. FSB ADV raised its stake in Masco by 46.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the construction company’s stock valued at $38,000 after purchasing an additional 179 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of Masco in the 3rd quarter worth $38,000. Hedge funds and other institutional investors own 93.91% of the company’s stock.

Insider Activity

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 transaction of $2,961,592.48. Following the completion of the sale, the vice president now owns 36,980 shares in the company, valued at $2,896,273.60. This represents 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 the SEC website. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

MAS has been the topic of several recent research reports. Barclays upped their target price on shares of Masco from $92.00 to $93.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Royal Bank of Canada cut Masco from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from $79.00 to $80.00 in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price target on Masco from $80.00 to $83.50 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Truist Financial boosted their price objective on shares of Masco from $84.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company raised their target price on shares of Masco from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Masco presently has an average rating of “Hold” and an average target price of $85.96.

Masco Stock Up 0.9 %

Shares of NYSE MAS opened at $79.01 on Friday. Masco Co. has a 52-week low of $58.91 and a 52-week high of $86.70. The firm has a market capitalization of $17.05 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 2.54 and a beta of 1.24. The stock has a 50 day moving average price of $81.76 and a 200 day moving average price of $75.46. 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 (NYSE:MAS) last posted its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.08. The business 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 revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.00 EPS. Sell-side analysts expect that Masco Co. will post 4.09 earnings per share for the current year.

Masco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be issued a $0.29 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.16 annualized dividend and a dividend yield of 1.47%. Masco’s dividend payout ratio is currently 30.85%.

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.