abrdn plc Trims Stock Position in Masco Co. (NYSE:MAS)

abrdn plc lessened its position in shares of Masco Co. (NYSE:MAS) by 7.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 85,368 shares of the construction company’s stock after selling 6,685 shares during the period. abrdn plc’s holdings in Masco were worth $7,132,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. New Covenant Trust Company N.A. bought a new position in shares of Masco in the first quarter worth $25,000. Innealta Capital LLC bought a new position in Masco in the 2nd quarter worth about $25,000. Family Firm Inc. purchased a new stake in shares of Masco in the 2nd quarter valued at about $30,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of Masco by 46.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the construction company’s stock valued at $38,000 after acquiring an additional 179 shares in the last quarter. Finally, Larson Financial Group LLC grew its holdings in shares of Masco by 4,545.5% during the first quarter. Larson Financial Group LLC now owns 511 shares of the construction company’s stock worth $40,000 after purchasing an additional 500 shares in the last quarter. 93.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MAS. BMO Capital Markets lifted their target price 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. Barclays lifted their price objective on shares of Masco from $92.00 to $93.00 and gave the stock an “overweight” rating in a report on Wednesday. Evercore ISI raised their price target on Masco from $78.00 to $82.00 and gave the company an “in-line” rating in a research report on Wednesday. Wells Fargo & Company upped their price objective on Masco from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, Royal Bank of Canada cut Masco from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $79.00 to $80.00 in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Masco currently has an average rating of “Hold” and an average target price of $84.85.

Masco Stock Performance

Shares of MAS stock opened at $80.18 on Friday. The company has a market capitalization of $17.30 billion, a P/E ratio of 21.32, a PEG ratio of 2.58 and a beta of 1.24. Masco Co. has a fifty-two week low of $53.44 and a fifty-two week high of $86.70. The company has a debt-to-equity ratio of 20.74, a quick ratio of 1.12 and a current ratio of 1.83. The stock has a 50 day moving average price of $81.60 and a two-hundred day moving average price of $74.53.

Masco (NYSE:MAS) last posted its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.08 EPS for the quarter, meeting analysts’ consensus estimates of $1.08. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $2 billion. Masco had a net margin of 10.54% and a return on equity of 615.54%. The firm’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.00 EPS. Analysts expect that Masco Co. will post 4.1 earnings per share for the current year.

Masco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.16 annualized dividend and a dividend yield of 1.45%. Masco’s payout ratio is presently 30.85%.

Insider Activity at Masco

In other news, VP Kenneth G. Cole sold 37,814 shares of Masco stock in a transaction that occurred on Tuesday, September 10th. The stock was 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 in the company, valued at approximately $2,896,273.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by company insiders.

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.