Skandinaviska Enskilda Banken AB publ Sells 69,900 Shares of Masco Co. (NYSE:MAS)

Skandinaviska Enskilda Banken AB publ lowered its holdings in Masco Co. (NYSE:MAS) by 22.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 236,286 shares of the construction company’s stock after selling 69,900 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Masco were worth $15,753,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in MAS. New Covenant Trust Company N.A. bought a new position in Masco in the first quarter valued at $25,000. Innealta Capital LLC bought a new position in shares of Masco in the 2nd quarter valued at about $25,000. Versant Capital Management Inc grew its position in shares of Masco by 62.4% in the 1st quarter. Versant Capital Management Inc now owns 354 shares of the construction company’s stock valued at $28,000 after acquiring an additional 136 shares during the period. Family Firm Inc. bought a new position in shares of Masco in the 2nd quarter valued at about $30,000. Finally, Massmutual Trust Co. FSB ADV grew its position 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 during the period. Institutional investors own 93.91% of the company’s stock.

Masco Price Performance

Shares of Masco stock opened at $82.11 on Friday. Masco Co. has a twelve month low of $47.66 and a twelve month high of $83.56. The company has a quick ratio of 1.12, a current ratio of 1.76 and a debt-to-equity ratio of 16.18. The company has a 50-day simple moving average of $76.72 and a two-hundred day simple moving average of $73.10. The stock has a market capitalization of $18.08 billion, a price-to-earnings ratio of 20.13, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24.

Masco (NYSE:MAS) last issued its quarterly earnings data on Thursday, July 25th. The construction company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.02. Masco had a net margin of 11.59% and a return on equity of 602.39%. The business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter in the previous year, the company earned $1.19 EPS. The business’s revenue was down 1.7% on a year-over-year basis. Analysts forecast that Masco Co. will post 4.11 EPS for the current year.

Masco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 2nd were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.41%. The ex-dividend date was Friday, August 2nd. Masco’s dividend payout ratio (DPR) is 28.43%.

Insider Buying and Selling at Masco

In other Masco news, VP Kenneth G. Cole sold 37,814 shares of the firm’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 transaction, the vice president now directly owns 36,980 shares of the company’s stock, valued at approximately $2,896,273.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MAS. Citigroup decreased their price objective on shares of Masco from $73.00 to $66.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Jefferies Financial Group lifted their price objective on shares of Masco from $83.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. BMO Capital Markets lifted their price objective on shares of Masco from $75.00 to $78.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. Truist Financial raised their target price on shares of Masco from $81.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada raised their target price on shares of Masco from $78.00 to $79.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Masco presently has an average rating of “Moderate Buy” and a consensus target price of $77.58.

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.