Corebridge Financial Inc. Reduces Position in Masco Co. (NYSE:MAS)

Corebridge Financial Inc. lowered its position in Masco Co. (NYSE:MAS) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,556 shares of the construction company’s stock after selling 2,411 shares during the quarter. Corebridge Financial Inc.’s holdings in Masco were worth $3,814,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of MAS. ORG Wealth Partners LLC purchased a new stake in Masco in the 4th quarter valued at $27,000. Golden State Wealth Management LLC purchased a new stake in shares of Masco in the fourth quarter valued at about $27,000. Kestra Investment Management LLC purchased a new position in shares of Masco during the fourth quarter worth about $30,000. Lee Danner & Bass Inc. acquired a new position in Masco in the 4th quarter valued at about $42,000. Finally, MassMutual Private Wealth & Trust FSB raised its stake in Masco by 26.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 703 shares of the construction company’s stock valued at $51,000 after acquiring an additional 148 shares during the last quarter. 93.91% of the stock is owned by institutional investors and hedge funds.

Masco Stock Down 2.6 %

MAS opened at $68.63 on Monday. The company has a debt-to-equity ratio of 20.74, a quick ratio of 1.15 and a current ratio of 1.75. The company has a market cap of $14.55 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 1.94 and a beta of 1.24. Masco Co. has a one year low of $63.81 and a one year high of $86.70. The business’s fifty day moving average is $75.24 and its two-hundred day moving average is $77.92.

Masco (NYSE:MAS) last released its quarterly earnings data on Tuesday, February 11th. The construction company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. Masco had a net margin of 10.50% and a return on equity of 838.32%. During the same period last year, the firm posted $0.83 EPS. Analysts anticipate that Masco Co. will post 4.34 EPS for the current fiscal year.

Masco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 21st were given a $0.31 dividend. The ex-dividend date was Friday, February 21st. This is a positive change from Masco’s previous quarterly dividend of $0.29. This represents a $1.24 annualized dividend and a dividend yield of 1.81%. Masco’s dividend payout ratio is currently 32.98%.

Analyst Ratings Changes

Several brokerages have weighed in on MAS. Barclays lifted their target price on Masco from $84.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Wells Fargo & Company lowered their price objective on shares of Masco from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. The Goldman Sachs Group upped their price objective on shares of Masco from $85.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Citigroup lowered their target price on shares of Masco from $82.00 to $77.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Finally, Zelman & Associates raised shares of Masco to a “strong-buy” rating in a report on Friday, January 17th. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Masco currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.32.

Insider Buying and Selling

In related news, VP Renee Straber sold 3,139 shares of Masco stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $71.78, for a total transaction of $225,317.42. Following the completion of the sale, the vice president now owns 33,027 shares in the company, valued at approximately $2,370,678.06. This trade represents a 8.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Keith J. Allman sold 21,723 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $76.36, for a total transaction of $1,658,768.28. Following the completion of the transaction, the chief executive officer now directly owns 60,267 shares of the company’s stock, valued at $4,601,988.12. The trade was a 26.49 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

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.