First Trust Direct Indexing L.P. Has $326,000 Stake in Masco Co. (NYSE:MAS)

First Trust Direct Indexing L.P. raised its holdings in Masco Co. (NYSE:MAS) by 8.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,884 shares of the construction company’s stock after purchasing an additional 316 shares during the period. First Trust Direct Indexing L.P.’s holdings in Masco were worth $326,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in MAS. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Masco by 1.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 539,398 shares of the construction company’s stock worth $42,548,000 after purchasing an additional 7,064 shares during the period. Norden Group LLC acquired a new position in Masco during the first quarter worth about $389,000. Diversify Advisory Services LLC bought a new position in shares of Masco in the first quarter worth about $221,000. Janney Montgomery Scott LLC boosted its position in Masco by 1.1% in the first quarter. Janney Montgomery Scott LLC now owns 16,215 shares of the construction company’s stock valued at $1,279,000 after buying an additional 183 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Masco by 54.4% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,343 shares of the construction company’s stock valued at $737,000 after purchasing an additional 3,290 shares in the last quarter. 93.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Jefferies Financial Group lifted their price target on shares of Masco from $89.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Royal Bank of Canada cut Masco from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $79.00 to $80.00 in a report on Wednesday, October 30th. Truist Financial boosted their price target on shares of Masco from $84.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Robert W. Baird decreased their price objective on shares of Masco from $95.00 to $94.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Finally, BMO Capital Markets boosted their target price on shares of Masco from $78.00 to $85.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $84.85.

Insider Activity

In related news, VP Kenneth G. Cole sold 37,814 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $78.32, for a total value of $2,961,592.48. Following the sale, the vice president now owns 36,980 shares in the company, valued at $2,896,273.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.10% of the company’s stock.

Masco Stock Performance

Shares of MAS opened at $80.79 on Tuesday. Masco Co. has a one year low of $54.55 and a one year high of $86.70. The company has a market cap of $17.43 billion, a PE ratio of 21.49, a P/E/G ratio of 2.58 and a beta of 1.24. The stock has a 50-day moving average of $81.60 and a 200-day moving average of $74.56. The company has a debt-to-equity ratio of 20.74, a current ratio of 1.83 and a quick ratio of 1.12.

Masco (NYSE:MAS) last released its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.08 EPS for the quarter, meeting the consensus estimate of $1.08. Masco had a return on equity of 615.54% and a net margin of 10.54%. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $2 billion. During the same quarter in the previous year, the company posted $1.00 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. On average, equities research analysts predict that Masco Co. will post 4.1 EPS for the current fiscal year.

Masco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Friday, November 8th. Masco’s dividend payout ratio (DPR) is 30.85%.

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.