Meeder Asset Management Inc. Sells 137 Shares of Masco Co. (NYSE:MAS)

Meeder Asset Management Inc. cut its stake in shares of Masco Co. (NYSE:MAS) by 15.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 733 shares of the construction company’s stock after selling 137 shares during the period. Meeder Asset Management Inc.’s holdings in Masco were worth $62,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Manning & Napier Advisors LLC bought a new stake in shares of Masco during the 2nd quarter worth $82,363,000. Assenagon Asset Management S.A. raised its stake in shares of Masco by 956.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 989,640 shares of the construction company’s stock worth $83,070,000 after purchasing an additional 895,950 shares during the period. Acadian Asset Management LLC raised its stake in shares of Masco by 66.5% during the 2nd quarter. Acadian Asset Management LLC now owns 1,823,934 shares of the construction company’s stock worth $121,581,000 after purchasing an additional 728,690 shares during the period. Lazard Asset Management LLC raised its stake in shares of Masco by 55.8% during the 1st quarter. Lazard Asset Management LLC now owns 1,538,952 shares of the construction company’s stock worth $121,391,000 after purchasing an additional 551,203 shares during the period. Finally, Earnest Partners LLC raised its stake in shares of Masco by 16.6% during the 1st quarter. Earnest Partners LLC now owns 2,245,644 shares of the construction company’s stock worth $177,136,000 after purchasing an additional 319,029 shares during the period. 93.91% of the stock is currently owned by institutional investors.

Masco Trading Up 1.1 %

Shares of MAS opened at $77.01 on Thursday. The business’s 50-day moving average price is $81.79 and its 200-day moving average price is $75.35. Masco Co. has a twelve month low of $58.89 and a twelve month high of $86.70. The stock has a market cap of $16.61 billion, a PE ratio of 20.48, a P/E/G ratio of 2.54 and a beta of 1.24. The company has a quick ratio of 1.21, a current ratio of 1.83 and a debt-to-equity ratio of 20.74.

Masco (NYSE:MAS) last announced its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.08 earnings per share for the quarter, meeting the consensus estimate of $1.08. Masco had a return on equity of 615.54% and a net margin of 10.54%. The firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $2 billion. During the same period in the prior year, the business posted $1.00 earnings per share. The company’s revenue was up .2% on a year-over-year basis. On average, equities analysts forecast that Masco Co. will post 4.09 EPS for the current fiscal year.

Masco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Friday, November 8th. Masco’s dividend payout ratio (DPR) is 30.85%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on Masco from $80.00 to $83.50 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Robert W. Baird lowered their target price on Masco from $95.00 to $94.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Loop Capital lifted their price objective on Masco from $76.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Truist Financial lifted their price objective on Masco from $84.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, UBS Group lifted their price objective on Masco from $89.00 to $94.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $85.96.

Insider Buying and Selling

In related news, VP Kenneth G. Cole sold 37,814 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 36,980 shares in the company, valued at approximately $2,896,273.60. This represents a 50.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by company 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.