Sumitomo Mitsui DS Asset Management Company Ltd Boosts Stock Position in Masco Co. (NYSE:MAS)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Masco Co. (NYSE:MAS) by 2.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,559 shares of the construction company’s stock after buying an additional 501 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Masco were worth $1,978,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. New Covenant Trust Company N.A. purchased a new stake in shares of Masco in the 1st quarter valued at approximately $25,000. Innealta Capital LLC acquired a new position in Masco in the second quarter valued at approximately $25,000. Family Firm Inc. acquired a new stake in Masco during the second quarter worth $30,000. Massmutual Trust Co. FSB ADV raised its position 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 period. Finally, Larson Financial Group LLC lifted its stake in shares of Masco by 4,545.5% in the 1st quarter. Larson Financial Group LLC now owns 511 shares of the construction company’s stock valued at $40,000 after purchasing an additional 500 shares during the last quarter. 93.91% of the stock is currently owned by hedge funds and other institutional investors.

Masco Stock Down 1.8 %

MAS stock opened at $84.19 on Tuesday. The stock has a market cap of $18.54 billion, a P/E ratio of 20.63, a PEG ratio of 2.64 and a beta of 1.24. 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 Co. has a twelve month low of $47.66 and a twelve month high of $86.70. The company’s 50 day moving average is $80.57 and its two-hundred day moving average is $74.07.

Masco (NYSE:MAS) last issued its quarterly earnings data on Thursday, July 25th. The construction company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.02. Masco had a return on equity of 602.39% and a net margin of 11.59%. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same quarter last year, the company posted $1.19 earnings per share. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. Research analysts expect 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. Shareholders of record on Friday, August 2nd were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Friday, August 2nd. Masco’s dividend payout ratio is currently 28.43%.

Insider Activity

In related news, VP Kenneth G. Cole sold 37,814 shares of the stock in a transaction 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 represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MAS shares. Citigroup reduced their price objective on shares of Masco from $73.00 to $66.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Royal Bank of Canada upped their price objective on shares of Masco from $78.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. BMO Capital Markets lifted their target price 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. Wells Fargo & Company upped their price target on Masco from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, StockNews.com raised Masco from a “hold” rating to a “buy” rating in a research note on Monday. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $81.17.

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.