Pathstone Holdings LLC Trims Stock Holdings in Masco Co. (NYSE:MAS)

Pathstone Holdings LLC cut its holdings in shares of Masco Co. (NYSE:MAS) by 9.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,892 shares of the construction company’s stock after selling 3,284 shares during the quarter. Pathstone Holdings LLC’s holdings in Masco were worth $2,509,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Manning & Napier Advisors LLC bought a new stake in shares of Masco in the second quarter worth $82,363,000. Assenagon Asset Management S.A. increased its position in shares of Masco by 956.3% in 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 last quarter. Acadian Asset Management LLC raised its stake in shares of Masco by 66.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,823,934 shares of the construction company’s stock valued at $121,581,000 after purchasing an additional 728,690 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Masco by 86.5% during the second quarter. Bank of Montreal Can now owns 634,740 shares of the construction company’s stock worth $42,318,000 after purchasing an additional 294,409 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its stake in Masco by 89.5% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 579,597 shares of the construction company’s stock worth $38,642,000 after purchasing an additional 273,718 shares in the last quarter. 93.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on MAS. Truist Financial lifted their target price on Masco from $84.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price on shares of Masco from $80.00 to $83.50 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Wells Fargo & Company raised their price target on shares of Masco from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Loop Capital lifted their price target on shares of Masco from $76.00 to $87.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, StockNews.com lowered shares of Masco from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $85.96.

Masco Stock Up 4.0 %

Shares of Masco stock opened at $82.16 on Tuesday. The company has a debt-to-equity ratio of 20.74, a current ratio of 1.83 and a quick ratio of 1.21. Masco Co. has a 1-year low of $58.91 and a 1-year high of $86.70. The business’s fifty day moving average price is $81.78 and its two-hundred day moving average price is $75.57. The company has a market capitalization of $17.73 billion, a P/E ratio of 21.85, a PEG ratio of 2.56 and a beta of 1.24.

Masco (NYSE:MAS) last issued its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.08. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $2 billion. Masco had a net margin of 10.54% and a return on equity of 615.54%. The company’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business earned $1.00 earnings per share. As a group, research analysts forecast that Masco Co. will post 4.09 EPS for the current year.

Masco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Friday, November 8th were paid a dividend of $0.29 per share. The ex-dividend date was Friday, November 8th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.41%. Masco’s dividend payout ratio is presently 30.85%.

Insider Buying and Selling

In other Masco news, VP Kenneth G. Cole sold 37,814 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $2,896,273.60. The trade was a 50.56 % decrease in their ownership of the stock. The sale 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 corporate 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.