Everence Capital Management Inc. Makes New $394,000 Investment in Masco Co. (NYSE:MAS)

Everence Capital Management Inc. bought a new position in shares of Masco Co. (NYSE:MAS) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 5,880 shares of the construction company’s stock, valued at approximately $394,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Desjardins Global Asset Management Inc. increased its position in Masco by 122.9% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 1,935 shares of the construction company’s stock worth $130,000 after purchasing an additional 1,067 shares during the period. LifePlan Financial LLC acquired a new stake in shares of Masco in the 4th quarter worth approximately $478,000. Cornercap Investment Counsel Inc. grew its holdings in shares of Masco by 6.6% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 21,455 shares of the construction company’s stock worth $1,437,000 after acquiring an additional 1,324 shares during the period. Carnegie Capital Asset Management LLC grew its holdings in shares of Masco by 7.2% in the 4th quarter. Carnegie Capital Asset Management LLC now owns 154,015 shares of the construction company’s stock worth $10,316,000 after acquiring an additional 10,314 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Masco in the 4th quarter worth approximately $911,000. Institutional investors and hedge funds own 93.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MAS shares. Royal Bank of Canada upped their price target on Masco from $73.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. StockNews.com lowered Masco from a “buy” rating to a “hold” rating in a research note on Wednesday, March 27th. Citigroup upped their target price on Masco from $74.00 to $79.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Oppenheimer started coverage on Masco in a research note on Friday, January 19th. They issued a “market perform” rating on the stock. Finally, Truist Financial upped their target price on Masco from $65.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, February 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $69.62.

Masco Trading Down 0.2 %

Shares of Masco stock opened at $72.22 on Friday. Masco Co. has a fifty-two week low of $47.66 and a fifty-two week high of $78.94. The firm has a market cap of $15.93 billion, a PE ratio of 18.01, a P/E/G ratio of 2.25 and a beta of 1.25. The business’s fifty day moving average is $75.41 and its two-hundred day moving average is $66.09. The company has a quick ratio of 1.08, a current ratio of 1.68 and a debt-to-equity ratio of 30.05.

Masco (NYSE:MAS) last issued its quarterly earnings results on Thursday, February 8th. The construction company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.17. Masco had a return on equity of 3,111.50% and a net margin of 11.40%. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the prior year, the company posted $0.65 EPS. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. Analysts anticipate that Masco Co. will post 4.11 earnings per share for the current year.

Masco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Thursday, February 22nd were given a $0.29 dividend. This is a positive change from Masco’s previous quarterly dividend of $0.29. This represents a $1.16 annualized dividend and a dividend yield of 1.61%. The ex-dividend date was Wednesday, February 21st. Masco’s dividend payout ratio (DPR) is 28.93%.

Insider Buying and Selling

In related news, VP Kenneth G. Cole sold 36,210 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $74.65, for a total value of $2,703,076.50. Following the transaction, the vice president now directly owns 58,885 shares of the company’s stock, valued at approximately $4,395,765.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Kenneth G. Cole sold 36,210 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $74.65, for a total value of $2,703,076.50. Following the completion of the sale, the vice president now directly owns 58,885 shares in the company, valued at approximately $4,395,765.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Richard Allan Marshall sold 5,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $77.05, for a total value of $385,250.00. Following the sale, the vice president now owns 10,465 shares of the company’s stock, valued at $806,328.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 83,762 shares of company stock valued at $6,337,597. 1.10% of the stock is currently 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.