Boltwood Capital Management Lowers Position in Masco Co. (NYSE:MAS)

Boltwood Capital Management trimmed its holdings in shares of Masco Co. (NYSE:MAS) by 6.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 5,637 shares of the construction company’s stock after selling 420 shares during the period. Boltwood Capital Management’s holdings in Masco were worth $473,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Trust Co. of Toledo NA OH raised its stake in Masco by 2.9% in the 3rd quarter. Trust Co. of Toledo NA OH now owns 5,509 shares of the construction company’s stock valued at $462,000 after purchasing an additional 153 shares during the last quarter. American National Bank & Trust grew its holdings in shares of Masco by 1.0% during the 3rd quarter. American National Bank & Trust now owns 14,846 shares of the construction company’s stock worth $1,246,000 after purchasing an additional 142 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of Masco during the 2nd quarter worth $3,377,000. Teachers Retirement System of The State of Kentucky increased its stake in Masco by 89.5% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 579,597 shares of the construction company’s stock worth $38,642,000 after purchasing an additional 273,718 shares during the period. Finally, Cetera Investment Advisers increased its stake in Masco by 9.3% during the 2nd quarter. Cetera Investment Advisers now owns 31,846 shares of the construction company’s stock worth $2,123,000 after buying an additional 2,698 shares during the period. 93.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MAS has been the topic of several recent research reports. Royal Bank of Canada upped their price target on Masco from $78.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Jefferies Financial Group raised their price target on Masco from $83.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Robert W. Baird increased their price objective on Masco from $84.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Barclays lifted 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. Finally, Truist Financial raised their price target on Masco from $81.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.58.

Insider Activity at Masco

In related news, VP Kenneth G. Cole sold 37,814 shares of Masco stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $78.32, for a total value of $2,961,592.48. Following the transaction, the vice president now owns 36,980 shares in the company, valued at $2,896,273.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by insiders.

Masco Price Performance

Shares of NYSE:MAS opened at $83.26 on Thursday. The company has a market cap of $18.34 billion, a P/E ratio of 20.41, 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 Co. has a 52 week low of $47.66 and a 52 week high of $84.69. The business has a fifty day simple moving average of $78.45 and a 200-day simple moving average of $73.51.

Masco (NYSE:MAS) last issued its earnings results on Thursday, July 25th. The construction company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $2.10 billion. During the same quarter last year, the firm earned $1.19 earnings per share. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. Equities research analysts forecast that Masco Co. will post 4.11 EPS for the current year.

Masco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 2nd were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Friday, August 2nd. Masco’s payout ratio is currently 28.43%.

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.