Nordea Investment Management AB Boosts Stake in Masco Co. (NYSE:MAS)

Nordea Investment Management AB increased its stake in Masco Co. (NYSE:MAS) by 21.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,997,839 shares of the construction company’s stock after purchasing an additional 520,555 shares during the quarter. Nordea Investment Management AB’s holdings in Masco were worth $218,063,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Commonwealth Equity Services LLC grew its stake in shares of Masco by 20.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 38,501 shares of the construction company’s stock valued at $2,567,000 after acquiring an additional 6,643 shares during the period. Larson Financial Group LLC boosted its position in shares of Masco by 188.5% in the second quarter. Larson Financial Group LLC now owns 1,474 shares of the construction company’s stock worth $98,000 after purchasing an additional 963 shares during the period. National Bank of Canada FI increased its stake in shares of Masco by 22.7% in the second quarter. National Bank of Canada FI now owns 62,323 shares of the construction company’s stock worth $4,033,000 after purchasing an additional 11,525 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Masco by 22.9% during the 2nd quarter. Victory Capital Management Inc. now owns 849,161 shares of the construction company’s stock valued at $56,614,000 after purchasing an additional 158,232 shares during the period. Finally, Private Advisor Group LLC lifted its stake in shares of Masco by 6.9% during the 2nd quarter. Private Advisor Group LLC now owns 10,622 shares of the construction company’s stock valued at $708,000 after buying an additional 688 shares in the last quarter. 93.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on MAS. Truist Financial increased their price target on Masco from $84.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company reissued an “equal weight” rating and set a $85.00 target price (down previously from $92.00) on shares of Masco in a research note on Tuesday, December 17th. Barclays upped their price target on Masco from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. UBS Group increased their price objective on shares of Masco from $89.00 to $94.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Citigroup dropped their target price on shares of Masco from $82.00 to $77.00 and set a “neutral” rating for the company in a research report on Monday. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $86.79.

Masco Trading Up 1.3 %

MAS opened at $73.14 on Tuesday. The stock has a 50-day moving average of $77.89 and a 200 day moving average of $77.19. The company has a current ratio of 1.83, a quick ratio of 1.21 and a debt-to-equity ratio of 20.74. Masco Co. has a 12 month low of $63.81 and a 12 month high of $86.70. The firm has a market cap of $15.78 billion, a P/E ratio of 19.45, a P/E/G ratio of 2.55 and a beta of 1.25.

Masco (NYSE:MAS) last announced its earnings results on Tuesday, October 29th. The construction company reported $1.08 EPS for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2 billion. During the same quarter in the previous year, the business earned $1.00 EPS. The company’s quarterly revenue was up .2% on a year-over-year basis. As a group, research analysts forecast that Masco Co. will post 4.09 EPS for the current year.

Masco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Friday, November 8th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Friday, November 8th. Masco’s dividend payout ratio is currently 30.85%.

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.