Masco Co. (NYSE:MAS) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its position in shares of Masco Co. (NYSE:MAS) by 34.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,416 shares of the construction company’s stock after selling 39,049 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Masco were worth $4,895,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. New Covenant Trust Company N.A. purchased a new stake in shares of Masco in the first quarter valued at approximately $25,000. Innealta Capital LLC acquired a new position in Masco in the second quarter valued at $25,000. Versant Capital Management Inc increased its stake in Masco by 62.4% in the first quarter. Versant Capital Management Inc now owns 354 shares of the construction company’s stock valued at $28,000 after purchasing an additional 136 shares during the last quarter. Family Firm Inc. acquired a new position in Masco in the second quarter valued at $30,000. Finally, Massmutual Trust Co. FSB ADV increased its stake in Masco by 46.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the construction company’s stock valued at $38,000 after purchasing an additional 179 shares during the last quarter. 93.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Kenneth G. Cole sold 37,814 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $78.32, for a total value of $2,961,592.48. Following the transaction, the vice president now directly owns 36,980 shares of the company’s stock, valued at approximately $2,896,273.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Masco Trading Up 1.0 %

Shares of NYSE:MAS opened at $81.04 on Tuesday. The company has a market cap of $17.69 billion, a P/E ratio of 19.86, a P/E/G ratio of 2.45 and a beta of 1.24. The stock’s 50-day moving average is $75.59 and its 200-day moving average is $72.91. Masco Co. has a 52-week low of $47.66 and a 52-week high of $81.91. The company has a debt-to-equity ratio of 16.18, a quick ratio of 1.12 and a current ratio of 1.76.

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

Masco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 2nd were paid a $0.29 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $1.16 annualized dividend and a dividend yield of 1.43%. Masco’s dividend payout ratio is currently 28.43%.

Wall Street Analyst Weigh In

Several research firms recently commented on MAS. Barclays upped their target price on Masco from $79.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Truist Financial boosted their price target on Masco from $81.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Jefferies Financial Group upped their target price on Masco from $83.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. BMO Capital Markets increased their price target on Masco from $75.00 to $78.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. Finally, Citigroup reduced 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. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.58.

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.