APG Asset Management N.V. Decreases Holdings in Masco Co. (NYSE:MAS)

APG Asset Management N.V. trimmed its holdings in Masco Co. (NYSE:MAS) by 7.9% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 693,646 shares of the construction company’s stock after selling 59,393 shares during the quarter. APG Asset Management N.V. owned 0.31% of Masco worth $43,149,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. New Covenant Trust Company N.A. purchased a new stake in Masco during the first quarter valued at about $25,000. Innealta Capital LLC bought a new stake in shares of Masco in the 2nd quarter valued at about $25,000. Versant Capital Management Inc boosted its holdings in Masco by 62.4% during 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 Masco during the 2nd quarter worth approximately $30,000. Finally, Massmutual Trust Co. FSB ADV lifted its position in Masco by 46.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the construction company’s stock valued at $38,000 after purchasing an additional 179 shares during the last quarter. Hedge funds and other institutional investors own 93.91% of the company’s stock.

Analyst Upgrades and Downgrades

MAS has been the subject of several analyst reports. Robert W. Baird increased their price target on shares of Masco from $84.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Truist Financial increased their target price on shares of Masco from $81.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Barclays boosted their price target on Masco from $79.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, July 26th. BMO Capital Markets increased their price objective on Masco from $75.00 to $78.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. Finally, Citigroup reduced their target price on Masco from $73.00 to $66.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.58.

Masco Stock Up 0.5 %

Shares of Masco stock opened at $83.59 on Friday. Masco Co. has a 1 year low of $47.66 and a 1 year high of $84.37. The company has a debt-to-equity ratio of 16.18, a current ratio of 1.76 and a quick ratio of 1.12. The company has a 50-day moving average of $77.73 and a 200 day moving average of $73.33. The firm has a market cap of $18.41 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 2.59 and a beta of 1.24.

Masco (NYSE:MAS) last released its earnings results on Thursday, July 25th. The construction company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.02. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.10 billion. Masco had a net margin of 11.59% and a return on equity of 602.39%. The business’s revenue was down 1.7% on a year-over-year basis. During the same period last year, the business earned $1.19 earnings per share. As a group, sell-side analysts anticipate that Masco Co. will post 4.11 earnings per share for the current fiscal year.

Masco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 2nd were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $1.16 annualized dividend and a dividend yield of 1.39%. Masco’s payout ratio is presently 28.43%.

Insider Transactions at Masco

In related news, VP Kenneth G. Cole sold 37,814 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $78.32, for a total transaction of $2,961,592.48. Following the sale, the vice president now directly 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 accessible through the SEC website. 1.10% of the stock is owned by 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.