Ariel Investments LLC Has $72.88 Million Stake in Masco Co. (NYSE:MAS)

Ariel Investments LLC lifted its stake in Masco Co. (NYSE:MAS) by 4.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,093,202 shares of the construction company’s stock after buying an additional 46,644 shares during the period. Ariel Investments LLC’s holdings in Masco were worth $72,884,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Masco by 2.8% during the first quarter. Vanguard Group Inc. now owns 26,300,591 shares of the construction company’s stock valued at $2,074,591,000 after purchasing an additional 721,117 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Masco by 1.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 9,830,723 shares of the construction company’s stock worth $655,414,000 after buying an additional 181,515 shares in the last quarter. Harris Associates L P grew its position in Masco by 1.5% during the 4th quarter. Harris Associates L P now owns 9,769,194 shares of the construction company’s stock worth $654,341,000 after acquiring an additional 140,334 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Masco by 0.3% during the second quarter. Van ECK Associates Corp now owns 2,924,621 shares of the construction company’s stock worth $194,985,000 after purchasing an additional 9,094 shares during the last quarter. Finally, Impax Asset Management Group plc lifted its position in shares of Masco by 10.0% during the second quarter. Impax Asset Management Group plc now owns 2,855,056 shares of the construction company’s stock worth $190,347,000 after purchasing an additional 259,205 shares in the last quarter. 93.91% of the stock is owned by institutional investors and hedge funds.

Masco Stock Performance

Shares of MAS stock opened at $82.31 on Thursday. Masco Co. has a 12 month low of $47.66 and a 12 month high of $83.56. The company’s fifty day simple moving average is $77.32 and its 200-day simple moving average is $73.20. The firm has a market cap of $17.96 billion, a PE ratio of 20.17, a P/E/G ratio of 2.59 and a beta of 1.24. The company has a quick ratio of 1.12, a current ratio of 1.76 and a debt-to-equity ratio of 16.18.

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

Masco Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts recently commented on the company. BMO Capital Markets lifted their price objective on Masco from $75.00 to $78.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. Truist Financial raised their target price on Masco from $81.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Jefferies Financial Group increased their price target 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. Barclays upped their target price on shares of Masco from $79.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, Robert W. Baird boosted their price target on shares of Masco from $84.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $77.58.

Insider Activity

In other Masco news, VP Kenneth G. Cole sold 37,814 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $78.32, for a total transaction of $2,961,592.48. Following the completion of the sale, the vice president now owns 36,980 shares of the company’s stock, valued at approximately $2,896,273.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

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.