Meiji Yasuda Asset Management Co Ltd. Lowers Holdings in Masco Co. (NYSE:MAS)

Meiji Yasuda Asset Management Co Ltd. reduced its stake in shares of Masco Co. (NYSE:MAS) by 8.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,100 shares of the construction company’s stock after selling 690 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Masco were worth $473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of MAS. New Covenant Trust Company N.A. bought a new stake in Masco in the 1st quarter valued at $25,000. Innealta Capital LLC purchased a new position in shares of Masco during the second quarter valued at about $25,000. Versant Capital Management Inc increased its holdings in shares of Masco by 62.4% in the first quarter. Versant Capital Management Inc now owns 354 shares of the construction company’s stock worth $28,000 after purchasing an additional 136 shares during the last quarter. Family Firm Inc. purchased a new stake in shares of Masco in the second quarter worth about $30,000. Finally, Massmutual Trust Co. FSB ADV boosted its stake in Masco by 46.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the construction company’s stock valued at $38,000 after buying an additional 179 shares during the last quarter. Institutional investors own 93.91% of the company’s stock.

Insiders Place Their Bets

In other 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 value of $2,961,592.48. Following the completion of the sale, the vice president now directly owns 36,980 shares in the company, valued at $2,896,273.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is currently owned by corporate insiders.

Masco Stock Down 1.4 %

MAS stock opened at $82.11 on Friday. The stock has a market capitalization of $18.08 billion, a P/E ratio of 20.13, a P/E/G ratio of 2.45 and a beta of 1.24. Masco Co. has a 52 week low of $47.66 and a 52 week high of $83.56. The firm has a 50-day simple moving average of $76.49 and a 200-day simple moving average of $73.07. The company has a quick ratio of 1.12, a current ratio of 1.76 and a debt-to-equity ratio of 16.18.

Masco (NYSE:MAS) last posted its quarterly earnings data on Thursday, July 25th. The construction company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.18 by $0.02. The company had revenue of $2.09 billion during 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%. Masco’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.19 EPS. Equities analysts forecast that Masco Co. will post 4.11 earnings per share for the current fiscal 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 issued a $0.29 dividend. The ex-dividend date 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%.

Analysts Set New Price Targets

Several analysts have recently issued reports on MAS shares. Citigroup decreased their price objective on Masco from $73.00 to $66.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Truist Financial increased their price objective on shares of Masco from $81.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Barclays boosted their target price on shares of Masco from $79.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. BMO Capital Markets increased their price target on shares of Masco from $75.00 to $78.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. Finally, Robert W. Baird upped their price objective on Masco from $84.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.58.

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.