Masco Co. (NYSE:MAS) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lessened its position in shares of Masco Co. (NYSE:MAS) by 32.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,020 shares of the construction company’s stock after selling 5,212 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Masco were worth $925,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Manning & Napier Advisors LLC purchased a new position in Masco in the second quarter worth $82,363,000. Assenagon Asset Management S.A. grew its position in shares of Masco by 956.3% in the third quarter. Assenagon Asset Management S.A. now owns 989,640 shares of the construction company’s stock valued at $83,070,000 after purchasing an additional 895,950 shares during the period. Acadian Asset Management LLC boosted its position in shares of Masco by 66.5% in the second quarter. Acadian Asset Management LLC now owns 1,823,934 shares of the construction company’s stock worth $121,581,000 after acquiring an additional 728,690 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Masco by 2.8% in the first quarter. Vanguard Group Inc. now owns 26,300,591 shares of the construction company’s stock valued at $2,074,591,000 after acquiring an additional 721,117 shares during the last quarter. Finally, Lazard Asset Management LLC raised its stake in shares of Masco by 55.8% in the 1st quarter. Lazard Asset Management LLC now owns 1,538,952 shares of the construction company’s stock valued at $121,391,000 after acquiring an additional 551,203 shares during the period. 93.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Masco

In related news, VP Kenneth G. Cole sold 37,814 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $78.32, for a total transaction of $2,961,592.48. Following the transaction, the vice president now directly owns 36,980 shares in the company, valued at $2,896,273.60. The trade was a 50.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Robert W. Baird dropped their price objective on Masco from $95.00 to $94.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. StockNews.com lowered Masco from a “buy” rating to a “hold” rating in a report on Friday. Truist Financial lifted their target price on Masco from $84.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. UBS Group upped their target price on Masco from $89.00 to $94.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada lowered Masco from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from $79.00 to $80.00 in a research report on Wednesday, October 30th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Masco presently has an average rating of “Hold” and an average target price of $85.96.

Masco Stock Performance

Shares of MAS opened at $78.42 on Friday. The company has a debt-to-equity ratio of 20.74, a current ratio of 1.83 and a quick ratio of 1.21. Masco Co. has a one year low of $58.89 and a one year high of $86.70. The company’s fifty day moving average price is $81.86 and its 200 day moving average price is $75.19. The company has a market capitalization of $16.92 billion, a PE ratio of 20.86, a price-to-earnings-growth ratio of 2.57 and a beta of 1.24.

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

Masco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Friday, November 8th. Masco’s dividend payout ratio (DPR) 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.