Royal London Asset Management Ltd. Sells 20,141 Shares of Masco Co. (NYSE:MAS)

Royal London Asset Management Ltd. trimmed its stake in shares of Masco Co. (NYSE:MAS) by 18.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,315 shares of the construction company’s stock after selling 20,141 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Masco were worth $5,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new stake in Masco in the 4th quarter worth approximately $122,144,000. Intech Investment Management LLC purchased a new stake in Masco in the 4th quarter worth approximately $975,000. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Masco by 14.3% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 542,096 shares of the construction company’s stock worth $42,245,000 after buying an additional 67,806 shares during the period. Quantbot Technologies LP purchased a new position in shares of Masco in the 1st quarter valued at approximately $1,903,000. Finally, Manning & Napier Advisors LLC purchased a new position in shares of Masco in the 2nd quarter valued at approximately $82,363,000. 93.91% of the stock is currently owned by institutional investors.

Insider Activity at Masco

In related news, VP Kenneth G. Cole sold 37,814 shares of Masco 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 transaction, the vice president now directly owns 36,980 shares in the company, valued at $2,896,273.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Citigroup lowered their target price on Masco from $73.00 to $66.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Robert W. Baird raised their target price on Masco from $84.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Barclays raised their price objective on Masco from $79.00 to $88.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Truist Financial raised their price objective on Masco from $81.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada raised their price objective on Masco from $78.00 to $79.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Seven 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $77.58.

Masco Stock Performance

Shares of MAS opened at $80.21 on Friday. 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 Co. has a one year low of $47.66 and a one year high of $81.91. The firm has a market capitalization of $17.51 billion, a P/E ratio of 19.66, a PEG ratio of 2.45 and a beta of 1.24. The business has a fifty day moving average of $75.28 and a 200 day moving average of $72.94.

Masco (NYSE:MAS) last issued its quarterly earnings data on Thursday, July 25th. The construction company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.18 by $0.02. The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.10 billion. Masco had a return on equity of 602.39% and a net margin of 11.59%. Masco’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.19 earnings per share. As a group, sell-side 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. Investors of record on Friday, August 2nd were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $1.16 annualized dividend and a yield of 1.45%. Masco’s dividend payout ratio (DPR) is presently 28.43%.

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.