Truist Financial Corp Boosts Stock Position in Masco Co. (NYSE:MAS)

Truist Financial Corp increased its position in shares of Masco Co. (NYSE:MAS) by 6.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,263 shares of the construction company’s stock after purchasing an additional 3,724 shares during the quarter. Truist Financial Corp’s holdings in Masco were worth $4,084,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Manning & Napier Advisors LLC acquired a new stake in shares of Masco in the second quarter worth $82,363,000. Confluence Investment Management LLC purchased a new position in shares of Masco during the 1st quarter valued at about $78,181,000. Acadian Asset Management LLC lifted its holdings in shares of Masco by 66.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,823,934 shares of the construction company’s stock valued at $121,581,000 after buying an additional 728,690 shares during the period. Vanguard Group Inc. grew its holdings in Masco by 2.8% during the first quarter. Vanguard Group Inc. now owns 26,300,591 shares of the construction company’s stock worth $2,074,591,000 after acquiring an additional 721,117 shares during the period. Finally, Lazard Asset Management LLC raised its position in Masco by 55.8% during the first 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 in the last quarter. Hedge funds and other 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 firm’s stock in a transaction that occurred on 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 in the company, valued at $2,896,273.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is owned by insiders.

Masco Stock Up 0.5 %

MAS stock opened at $83.21 on Wednesday. The company has a market cap of $18.33 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 2.59 and a beta of 1.24. The firm has a 50-day moving average of $78.90 and a two-hundred day moving average of $73.68. Masco Co. has a 12 month low of $47.66 and a 12 month high of $84.69. The company has a current ratio of 1.76, a quick ratio of 1.12 and a debt-to-equity ratio of 16.18.

Masco (NYSE:MAS) last announced its quarterly earnings data on Thursday, July 25th. The construction company reported $1.20 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 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 quarter last year, the business posted $1.19 earnings per share. As a group, analysts forecast that Masco Co. will post 4.11 earnings per share for the current fiscal year.

Masco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 2nd were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.39%. The ex-dividend date was Friday, August 2nd. Masco’s payout ratio is currently 28.43%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MAS shares. Citigroup dropped their price objective on shares of Masco from $73.00 to $66.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Robert W. Baird upped their price target on Masco from $84.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. StockNews.com lowered Masco from a “buy” rating to a “hold” rating in a report on Tuesday. Jefferies Financial Group lifted their price target on shares of Masco from $83.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, BMO Capital Markets upped their price objective on shares of Masco from $75.00 to $78.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $79.42.

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.