Massachusetts Financial Services Co. MA Acquires 181,515 Shares of Masco Co. (NYSE:MAS)

Massachusetts Financial Services Co. MA raised its position in Masco Co. (NYSE:MAS) by 1.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,830,723 shares of the construction company’s stock after purchasing an additional 181,515 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Masco were worth $655,414,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of MAS. New Covenant Trust Company N.A. purchased a new stake in shares of Masco during the 1st quarter valued at $25,000. Innealta Capital LLC bought a new stake in shares of Masco during the 2nd quarter valued at about $25,000. Versant Capital Management Inc boosted its stake in shares of Masco by 62.4% during the 1st quarter. Versant Capital Management Inc now owns 354 shares of the construction company’s stock valued at $28,000 after purchasing an additional 136 shares in the last quarter. Family Firm Inc. bought a new stake in shares of Masco during the 2nd quarter valued at about $30,000. Finally, Massmutual Trust Co. FSB ADV boosted its stake in shares of Masco by 46.0% during the 2nd 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. 93.91% of the stock is owned by institutional investors.

Masco Trading Up 1.0 %

MAS stock opened at $81.04 on Tuesday. The company has a market capitalization of $17.69 billion, a PE ratio of 19.86, a P/E/G ratio of 2.45 and a beta of 1.24. Masco Co. has a 12 month low of $47.66 and a 12 month high of $81.91. The firm’s 50-day moving average is $75.59 and its 200 day moving average is $72.91. The company has a debt-to-equity ratio of 16.18, a current ratio of 1.76 and a quick ratio of 1.12.

Masco (NYSE:MAS) last posted its quarterly earnings results on Thursday, July 25th. The construction company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.18 by $0.02. Masco had a net margin of 11.59% and a return on equity of 602.39%. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same quarter in the previous year, the business posted $1.19 EPS. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. On average, research analysts anticipate that Masco Co. will post 4.11 EPS for the current year.

Masco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 2nd were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Friday, August 2nd. Masco’s dividend payout ratio is presently 28.43%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on MAS shares. BMO Capital Markets boosted their price objective on shares of Masco from $75.00 to $78.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. Robert W. Baird boosted their price objective on shares of Masco from $84.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Barclays upped their target price on shares of Masco from $79.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Royal Bank of Canada upped their price target on shares of Masco from $78.00 to $79.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, Truist Financial upped their target price on shares of Masco from $81.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $77.58.

Insiders Place Their Bets

In other news, VP Kenneth G. Cole sold 37,814 shares of the company’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 sale, the vice president now directly owns 36,980 shares of the company’s stock, valued at approximately $2,896,273.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by insiders.

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.