Teachers Retirement System of The State of Kentucky Buys 273,718 Shares of Masco Co. (NYSE:MAS)

Teachers Retirement System of The State of Kentucky grew its stake in Masco Co. (NYSE:MAS) by 89.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 579,597 shares of the construction company’s stock after purchasing an additional 273,718 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.26% of Masco worth $38,642,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MAS. Allianz Asset Management GmbH lifted its position in Masco by 132.9% in the fourth quarter. Allianz Asset Management GmbH now owns 61,273 shares of the construction company’s stock worth $4,104,000 after buying an additional 34,960 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in shares of Masco by 4.2% during the 4th quarter. Treasurer of the State of North Carolina now owns 102,926 shares of the construction company’s stock worth $6,894,000 after purchasing an additional 4,154 shares during the period. Bank of Nova Scotia boosted its stake in shares of Masco by 31.1% during the 4th quarter. Bank of Nova Scotia now owns 29,217 shares of the construction company’s stock worth $1,957,000 after purchasing an additional 6,932 shares during the period. Eagle Asset Management Inc. bought a new position in Masco during the 4th quarter valued at about $3,331,000. Finally, California State Teachers Retirement System raised its position in Masco by 6.0% in the 4th quarter. California State Teachers Retirement System now owns 413,213 shares of the construction company’s stock worth $27,677,000 after purchasing an additional 23,510 shares during the period. Hedge funds and other institutional investors own 93.91% of the company’s stock.

Insider Activity at Masco

In other Masco 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 completion of the sale, the vice president now directly owns 36,980 shares of the company’s stock, valued at $2,896,273.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.10% of the stock is owned by corporate insiders.

Masco Trading Up 0.4 %

NYSE MAS opened at $83.94 on Tuesday. Masco Co. has a one year low of $47.66 and a one year high of $84.37. The company has a debt-to-equity ratio of 16.18, a quick ratio of 1.12 and a current ratio of 1.76. The company has a market capitalization of $18.49 billion, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of 2.59 and a beta of 1.24. The company’s 50-day simple moving average is $77.95 and its two-hundred day simple moving average is $73.37.

Masco (NYSE:MAS) last issued its quarterly earnings data 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 company had revenue of $2.09 billion for 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%. Masco’s revenue was down 1.7% compared to the same quarter last year. During the same period last year, the company posted $1.19 earnings per share. Equities analysts forecast that Masco Co. will post 4.11 EPS for the current fiscal year.

Masco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 2nd were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Friday, August 2nd. Masco’s dividend payout ratio (DPR) is currently 28.43%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Barclays boosted their target price on Masco from $79.00 to $88.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Truist Financial upped their price objective on Masco from $81.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Citigroup decreased their target price on Masco from $73.00 to $66.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Royal Bank of Canada upped their price target on shares of Masco from $78.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, Robert W. Baird lifted their price objective on shares of Masco from $84.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.