Sky Investment Group LLC Lowers Stock Holdings in Masco Co. (NYSE:MAS)

Sky Investment Group LLC reduced its holdings in shares of Masco Co. (NYSE:MAS) by 1.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,100 shares of the construction company’s stock after selling 635 shares during the period. Sky Investment Group LLC’s holdings in Masco were worth $2,862,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Ballentine Partners LLC increased its position in shares of Masco by 2.5% during the first quarter. Ballentine Partners LLC now owns 5,513 shares of the construction company’s stock worth $435,000 after acquiring an additional 137 shares during the period. HB Wealth Management LLC increased its holdings in Masco by 3.6% during the 2nd quarter. HB Wealth Management LLC now owns 4,127 shares of the construction company’s stock worth $275,000 after purchasing an additional 142 shares during the period. American National Bank & Trust increased its holdings in Masco by 1.0% during the 3rd quarter. American National Bank & Trust now owns 14,846 shares of the construction company’s stock worth $1,246,000 after purchasing an additional 142 shares during the period. BOKF NA raised its position in Masco by 2.5% in the 1st quarter. BOKF NA now owns 6,178 shares of the construction company’s stock valued at $480,000 after purchasing an additional 149 shares in the last quarter. Finally, Trust Co. of Toledo NA OH boosted its stake in shares of Masco by 2.9% in the 3rd quarter. Trust Co. of Toledo NA OH now owns 5,509 shares of the construction company’s stock valued at $462,000 after buying an additional 153 shares during the period. 93.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Kenneth G. Cole sold 37,814 shares of the stock in a transaction dated Tuesday, September 10th. The shares were 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 directly owns 36,980 shares of the company’s stock, valued at $2,896,273.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

MAS has been the topic of several analyst reports. Truist Financial raised their target price on shares of Masco from $81.00 to $84.00 and gave the company a “buy” rating in a report on Friday, July 26th. 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. Jefferies Financial Group increased their target price on Masco from $89.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Citigroup decreased their price target on Masco from $73.00 to $66.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Finally, BMO Capital Markets increased their price objective on Masco from $75.00 to $78.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $81.17.

Masco Stock Performance

Shares of MAS traded down $2.13 during mid-day trading on Tuesday, reaching $82.06. 328,919 shares of the company’s stock were exchanged, compared to its average volume of 1,799,865. The business’s fifty day simple moving average is $80.57 and its 200-day simple moving average is $74.07. The stock has a market capitalization of $18.07 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 2.64 and a beta of 1.24. Masco Co. has a 52-week low of $47.66 and a 52-week high of $86.70. The company has a debt-to-equity ratio of 16.18, a current ratio of 1.76 and a quick ratio of 1.12.

Masco (NYSE:MAS) last released its quarterly earnings results on Thursday, July 25th. The construction company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.02. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.10 billion. Masco had a return on equity of 602.39% and a net margin of 11.59%. The business’s revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the company posted $1.19 earnings per share. On average, equities research analysts expect that Masco Co. will post 4.11 earnings per share for the current year.

Masco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 2nd were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $1.16 dividend on an annualized basis and a yield of 1.41%. Masco’s payout ratio is currently 28.43%.

Masco Company 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.