Mackenzie Financial Corp Sells 29,693 Shares of Masco Co. (NYSE:MAS)

Mackenzie Financial Corp trimmed its stake in Masco Co. (NYSE:MAS) by 26.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,461 shares of the construction company’s stock after selling 29,693 shares during the period. Mackenzie Financial Corp’s holdings in Masco were worth $5,498,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. The Manufacturers Life Insurance Company raised its holdings in shares of Masco by 0.3% in the second quarter. The Manufacturers Life Insurance Company now owns 133,547 shares of the construction company’s stock worth $8,904,000 after buying an additional 359 shares during the period. MBB Public Markets I LLC purchased a new stake in shares of Masco in the second quarter worth approximately $1,113,000. AQR Capital Management LLC raised its holdings in shares of Masco by 56.9% in the second quarter. AQR Capital Management LLC now owns 752,374 shares of the construction company’s stock worth $50,161,000 after buying an additional 272,786 shares during the period. Ariel Investments LLC raised its holdings in shares of Masco by 4.5% in the second quarter. Ariel Investments LLC now owns 1,093,202 shares of the construction company’s stock worth $72,884,000 after buying an additional 46,644 shares during the period. Finally, AXA S.A. raised its holdings in shares of Masco by 72.8% in the second quarter. AXA S.A. now owns 58,188 shares of the construction company’s stock worth $3,879,000 after buying an additional 24,506 shares during the period. 93.91% of the stock is owned by institutional investors.

Masco Trading Down 0.1 %

Shares of NYSE:MAS opened at $83.82 on Wednesday. Masco Co. has a 12-month low of $47.66 and a 12-month high of $84.69. The business’s fifty day simple moving average is $78.20 and its 200-day simple moving average is $73.44. The company has a current ratio of 1.76, a quick ratio of 1.12 and a debt-to-equity ratio of 16.18. The company has a market capitalization of $18.46 billion, a PE ratio of 20.54, a P/E/G ratio of 2.59 and a beta of 1.24.

Masco (NYSE:MAS) last announced its earnings results 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 return on equity of 602.39% and a net margin of 11.59%. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same period in the previous year, the business earned $1.19 EPS. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, equities research analysts predict that Masco Co. will post 4.11 earnings per share for the current fiscal year.

Masco Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Friday, August 2nd. This represents a $1.16 annualized dividend and a yield of 1.38%. Masco’s dividend payout ratio (DPR) is 28.43%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Truist Financial increased their price target on Masco from $81.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Barclays raised their price objective on Masco from $79.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Jefferies Financial Group raised their price objective on Masco from $83.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. BMO Capital Markets raised 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 price objective on Masco from $73.00 to $66.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Masco has a consensus rating of “Moderate Buy” and a consensus target price of $77.58.

Insider Buying and Selling

In related news, VP Kenneth G. Cole sold 37,814 shares of the business’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 transaction, the vice president now directly owns 36,980 shares in the company, valued at approximately $2,896,273.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.10% of the stock is owned by company 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.