First Interstate Bank Sells 747 Shares of Masco Co. (NYSE:MAS)

First Interstate Bank trimmed its position in Masco Co. (NYSE:MAS) by 1.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,448 shares of the construction company’s stock after selling 747 shares during the period. First Interstate Bank’s holdings in Masco were worth $3,311,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Masco by 1.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 539,398 shares of the construction company’s stock worth $42,548,000 after acquiring an additional 7,064 shares during the last quarter. Norden Group LLC bought a new stake in Masco in the 1st quarter worth about $389,000. First Trust Direct Indexing L.P. bought a new stake in Masco in the 1st quarter worth about $211,000. Diversify Advisory Services LLC purchased a new stake in Masco in the 1st quarter valued at about $221,000. Finally, BNP Paribas Financial Markets lifted its position in shares of Masco by 75.4% during the 1st quarter. BNP Paribas Financial Markets now owns 387,413 shares of the construction company’s stock worth $30,559,000 after buying an additional 166,489 shares in the last quarter. 93.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Masco

In other Masco news, VP Kenneth G. Cole sold 37,814 shares of the firm’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 completion of the transaction, the vice president now owns 36,980 shares of the company’s stock, valued at approximately $2,896,273.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

Masco Trading Up 0.3 %

Shares of MAS traded up $0.27 during midday trading on Friday, reaching $80.18. The company had a trading volume of 984,078 shares, compared to its average volume of 1,812,301. The company has a quick ratio of 1.12, a current ratio of 1.83 and a debt-to-equity ratio of 20.74. Masco Co. has a 1-year low of $53.44 and a 1-year high of $86.70. The firm has a 50 day simple moving average of $81.60 and a 200-day simple moving average of $74.53. The stock has a market cap of $17.30 billion, a PE ratio of 21.32, a price-to-earnings-growth ratio of 2.71 and a beta of 1.24.

Masco (NYSE:MAS) last posted its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.08. Masco had a return on equity of 615.54% and a net margin of 10.54%. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $2 billion. During the same quarter in the prior year, the company earned $1.00 earnings per share. The company’s revenue was up .2% on a year-over-year basis. Research analysts forecast that Masco Co. will post 4.11 EPS for the current fiscal year.

Masco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.16 annualized dividend and a yield of 1.45%. Masco’s dividend payout ratio is currently 30.85%.

Analyst Ratings Changes

A number of brokerages have issued reports on MAS. Jefferies Financial Group upped their price objective on Masco from $89.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Robert W. Baird reduced their price target on shares of Masco from $95.00 to $94.00 and set an “outperform” rating for the company in a research report on Wednesday. Wells Fargo & Company raised their price objective on shares of Masco from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Truist Financial boosted their target price on shares of Masco from $84.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, StockNews.com lowered shares of Masco from a “buy” rating to a “hold” rating in a research note on Wednesday. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $84.85.

Masco 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.