New York State Common Retirement Fund Decreases Stake in Masco Co. (NYSE:MAS)

New York State Common Retirement Fund lowered its stake in Masco Co. (NYSE:MAS) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 553,557 shares of the construction company’s stock after selling 16,646 shares during the period. New York State Common Retirement Fund’s holdings in Masco were worth $37,077,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in MAS. HB Wealth Management LLC purchased a new position in shares of Masco in the third quarter worth $205,000. Exchange Traded Concepts LLC purchased a new position in shares of Masco during the third quarter worth $66,000. SS&H Financial Advisors Inc. purchased a new position in shares of Masco during the third quarter worth $408,000. Czech National Bank raised its holdings in shares of Masco by 47.5% during the third quarter. Czech National Bank now owns 39,313 shares of the construction company’s stock worth $2,101,000 after purchasing an additional 12,667 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in shares of Masco by 5.6% during the third quarter. Asset Management One Co. Ltd. now owns 89,402 shares of the construction company’s stock worth $4,779,000 after purchasing an additional 4,702 shares during the last quarter. Hedge funds and other institutional investors own 93.91% of the company’s stock.

Masco Stock Down 4.5 %

Shares of NYSE MAS opened at $69.74 on Thursday. The company’s 50-day simple moving average is $75.31 and its 200-day simple moving average is $66.74. Masco Co. has a 52-week low of $47.66 and a 52-week high of $78.94. The firm has a market cap of $15.38 billion, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 2.27 and a beta of 1.25. The company has a quick ratio of 1.08, a current ratio of 1.68 and a debt-to-equity ratio of 30.05.

Masco (NYSE:MAS) last announced its earnings results on Wednesday, April 24th. The construction company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.06. Masco had a net margin of 11.40% and a return on equity of 3,111.50%. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the business earned $0.87 earnings per share. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. Equities analysts predict that Masco Co. will post 4.11 EPS for the current fiscal year.

Masco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Thursday, February 22nd were given a dividend of $0.29 per share. The ex-dividend date was Wednesday, February 21st. This is a positive change from Masco’s previous quarterly dividend of $0.29. This represents a $1.16 dividend on an annualized basis and a yield of 1.66%. Masco’s payout ratio is presently 28.93%.

Insider Buying and Selling

In related news, VP Richard Allan Marshall sold 5,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $77.05, for a total transaction of $385,250.00. Following the transaction, the vice president now directly owns 10,465 shares in the company, valued at $806,328.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Kenneth G. Cole sold 36,210 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $74.65, for a total transaction of $2,703,076.50. Following the transaction, the vice president now directly owns 58,885 shares in the company, valued at $4,395,765.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Richard Allan Marshall sold 5,000 shares of Masco stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $77.05, for a total transaction of $385,250.00. Following the transaction, the vice president now directly owns 10,465 shares in the company, valued at $806,328.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 83,762 shares of company stock worth $6,337,597. 1.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on MAS shares. Royal Bank of Canada raised their target price on shares of Masco from $73.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. StockNews.com cut shares of Masco from a “buy” rating to a “hold” rating in a report on Wednesday, March 27th. Truist Financial raised their target price on shares of Masco from $65.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Citigroup lifted their price objective on shares of Masco from $74.00 to $79.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Finally, Oppenheimer started coverage on shares of Masco in a report on Friday, January 19th. They issued a “market perform” rating for the company. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.62.

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.