New England Research & Management Inc. Raises Holdings in Masco Co. (NYSE:MAS)

New England Research & Management Inc. boosted its stake in shares of Masco Co. (NYSE:MAS) by 141.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,275 shares of the construction company’s stock after buying an additional 14,825 shares during the period. New England Research & Management Inc.’s holdings in Masco were worth $2,122,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of MAS. GAMMA Investing LLC raised its stake in shares of Masco by 22.8% during the 3rd quarter. GAMMA Investing LLC now owns 7,046 shares of the construction company’s stock worth $591,000 after acquiring an additional 1,308 shares in the last quarter. Czech National Bank grew its holdings in Masco by 5.9% in the third quarter. Czech National Bank now owns 44,459 shares of the construction company’s stock worth $3,732,000 after purchasing an additional 2,490 shares during the last quarter. LifePlan Financial LLC increased its position in shares of Masco by 2.5% during the third quarter. LifePlan Financial LLC now owns 6,402 shares of the construction company’s stock worth $537,000 after purchasing an additional 155 shares in the last quarter. Trust Co. of Toledo NA OH increased its position in shares of Masco by 2.9% during the third quarter. Trust Co. of Toledo NA OH now owns 5,509 shares of the construction company’s stock worth $462,000 after purchasing an additional 153 shares in the last quarter. Finally, American National Bank & Trust lifted its holdings in shares of Masco by 1.0% during the 3rd quarter. American National Bank & Trust now owns 14,846 shares of the construction company’s stock valued at $1,246,000 after purchasing an additional 142 shares during the last quarter. Hedge funds and other institutional investors own 93.91% of the company’s stock.

Masco Stock Performance

NYSE:MAS traded up $0.46 during trading hours on Monday, reaching $82.83. The company had a trading volume of 1,003,446 shares, compared to its average volume of 1,842,340. 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 Co. has a 1-year low of $47.66 and a 1-year high of $84.69. The business’s 50 day moving average price is $78.80 and its 200-day moving average price is $73.63. The firm has a market cap of $18.24 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 2.59 and a beta of 1.24.

Masco (NYSE:MAS) last announced 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 the consensus estimate of $2.10 billion. Masco had a net margin of 11.59% and a return on equity of 602.39%. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.19 earnings per share. Research analysts forecast that Masco Co. will post 4.11 EPS for the current year.

Masco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 2nd were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Friday, August 2nd. Masco’s payout ratio is 28.43%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MAS shares. Barclays upped their target price on Masco from $79.00 to $88.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Wells Fargo & Company lifted their target price on shares of Masco from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday. Truist Financial boosted their target price on shares of Masco from $81.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Robert W. Baird raised their price target on shares of Masco from $84.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, Citigroup cut their target price on Masco from $73.00 to $66.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $79.42.

Insider Activity at Masco

In other news, VP Kenneth G. Cole sold 37,814 shares of the business’s 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 sale, the vice president now owns 36,980 shares of the company’s stock, valued at $2,896,273.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is owned by corporate insiders.

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.