State Board of Administration of Florida Retirement System Decreases Stock Position in Masco Co. (NYSE:MAS)

State Board of Administration of Florida Retirement System lowered its position in Masco Co. (NYSE:MASFree Report) by 2.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 299,992 shares of the construction company’s stock after selling 7,960 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Masco were worth $16,035,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MAS. Harris Associates L P boosted its holdings in shares of Masco by 8.7% during the 2nd quarter. Harris Associates L P now owns 9,728,394 shares of the construction company’s stock valued at $558,215,000 after purchasing an additional 781,049 shares during the last quarter. State Street Corp boosted its holdings in shares of Masco by 3.1% during the 2nd quarter. State Street Corp now owns 9,467,872 shares of the construction company’s stock valued at $543,266,000 after purchasing an additional 282,151 shares during the last quarter. Boston Partners boosted its holdings in shares of Masco by 4.2% during the 3rd quarter. Boston Partners now owns 9,021,312 shares of the construction company’s stock valued at $481,875,000 after purchasing an additional 359,562 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in shares of Masco by 118,819.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,978,187 shares of the construction company’s stock valued at $325,672,000 after purchasing an additional 6,972,319 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Masco by 15.4% during the 3rd quarter. Van ECK Associates Corp now owns 5,320,936 shares of the construction company’s stock valued at $284,404,000 after purchasing an additional 711,988 shares during the last quarter. Institutional investors own 91.67% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on MAS shares. BMO Capital Markets increased their price objective on shares of Masco from $58.00 to $60.00 and gave the company a “market perform” rating in a report on Monday, October 30th. Citigroup started coverage on shares of Masco in a research report on Friday, February 2nd. They set a “neutral” rating and a $70.00 target price on the stock. Barclays upped their target price on shares of Masco from $63.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, December 13th. Truist Financial upped their target price on shares of Masco from $65.00 to $81.00 and gave the company a “buy” rating in a research report on Friday. Finally, The Goldman Sachs Group upped their target price on shares of Masco from $66.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, December 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $68.92.

Read Our Latest Research Report on Masco

Masco Stock Performance

Masco stock opened at $72.61 on Monday. The company has a debt-to-equity ratio of 30.05, a current ratio of 1.68 and a quick ratio of 1.08. Masco Co. has a 1-year low of $46.69 and a 1-year high of $76.43. The firm has a market capitalization of $15.96 billion, a P/E ratio of 18.11, a price-to-earnings-growth ratio of 3.62 and a beta of 1.25. The company’s 50-day moving average is $67.11 and its 200 day moving average is $59.93.

Masco (NYSE:MASGet Free Report) last issued its earnings results on Thursday, February 8th. The construction company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.17. The business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.79 billion. Masco had a net margin of 11.40% and a return on equity of 3,111.50%. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.65 EPS. Research analysts forecast that Masco Co. will post 4.09 EPS for the current year.

Masco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 11th. Shareholders of record on Thursday, February 22nd will be paid a $0.29 dividend. This is an increase from Masco’s previous quarterly dividend of $0.29. This represents a $1.16 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Wednesday, February 21st. Masco’s dividend payout ratio is currently 28.43%.

Insiders Place Their Bets

In other Masco news, insider Jai Shah sold 25,000 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $62.38, for a total value of $1,559,500.00. Following the transaction, the insider now directly owns 34,709 shares in the company, valued at approximately $2,165,147.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Jai Shah sold 25,000 shares of Masco stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $62.38, for a total transaction of $1,559,500.00. Following the transaction, the insider now directly owns 34,709 shares of the company’s stock, valued at $2,165,147.42. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Kenneth G. Cole sold 27,043 shares of Masco stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $62.48, for a total transaction of $1,689,646.64. Following the transaction, the vice president now directly owns 70,198 shares in the company, valued at $4,385,971.04. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Masco Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Masco (NYSE:MAS)

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