Masco Co. (NYSE:MAS) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. lessened its stake in Masco Co. (NYSE:MAS) by 45.8% in the 3rd quarter, Holdings Channel reports. The firm owned 20,246 shares of the construction company’s stock after selling 17,131 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Masco were worth $1,699,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MAS. New Covenant Trust Company N.A. purchased a new position in Masco in the 1st quarter valued at approximately $25,000. Innealta Capital LLC purchased a new position in Masco in the 2nd quarter valued at approximately $25,000. Family Firm Inc. purchased a new position in Masco in the 2nd quarter valued at approximately $30,000. Massmutual Trust Co. FSB ADV boosted its position in Masco by 46.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the construction company’s stock valued at $38,000 after buying an additional 179 shares during the period. Finally, Capital Performance Advisors LLP purchased a new position in Masco in the 3rd quarter valued at approximately $38,000. Institutional investors and hedge funds own 93.91% of the company’s stock.

Insiders Place Their Bets

In other Masco 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 of the company’s stock, valued at $2,896,273.60. This represents a 50.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on MAS shares. Wells Fargo & Company lifted their price objective on shares of Masco from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Barclays boosted their price target on shares of Masco from $92.00 to $93.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. BMO Capital Markets boosted their price target on shares of Masco from $78.00 to $85.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their price target on shares of Masco from $80.00 to $83.50 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Finally, Loop Capital boosted their price target on shares of Masco from $76.00 to $87.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $85.96.

Masco Trading Down 0.1 %

Shares of Masco stock opened at $79.19 on Friday. Masco Co. has a 52-week low of $58.89 and a 52-week high of $86.70. The company has a quick ratio of 1.21, a current ratio of 1.83 and a debt-to-equity ratio of 20.74. The company’s 50-day simple moving average is $81.84 and its 200-day simple moving average is $75.08. The firm has a market cap of $17.09 billion, a price-to-earnings ratio of 21.06, a price-to-earnings-growth ratio of 2.57 and a beta of 1.24.

Masco (NYSE:MAS) last issued its earnings results on Tuesday, October 29th. The construction company reported $1.08 earnings per share for the quarter, hitting the consensus estimate of $1.08. Masco had a net margin of 10.54% and a return on equity of 615.54%. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $2 billion. During the same period in the prior year, the business posted $1.00 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities research analysts anticipate that Masco Co. will post 4.09 earnings per share for the current year.

Masco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be given 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 1.46%. Masco’s payout ratio is currently 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.