MainStreet Investment Advisors LLC reduced its stake in Masco Co. (NYSE:MAS) by 8.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 105,579 shares of the construction company’s stock after selling 9,868 shares during the period. MainStreet Investment Advisors LLC’s holdings in Masco were worth $5,800,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of MAS. Lord Abbett & CO. LLC lifted its holdings in Masco by 16.5% during the fourth quarter. Lord Abbett & CO. LLC now owns 3,478,281 shares of the construction company’s stock worth $191,062,000 after acquiring an additional 492,739 shares in the last quarter. CI Investments Inc. lifted its holdings in Masco by 556.0% during the fourth quarter. CI Investments Inc. now owns 50,596 shares of the construction company’s stock worth $2,779,000 after acquiring an additional 42,883 shares in the last quarter. Vectors Research Management LLC bought a new position in Masco during the fourth quarter worth about $42,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in Masco by 4.0% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 76,720 shares of the construction company’s stock worth $4,214,000 after acquiring an additional 2,974 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in Masco by 57.5% during the fourth quarter. ProShare Advisors LLC now owns 56,932 shares of the construction company’s stock worth $3,127,000 after acquiring an additional 20,777 shares in the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.
NYSE MAS traded down $1.29 during trading on Tuesday, reaching $53.07. 28,436 shares of the company’s stock were exchanged, compared to its average volume of 2,185,650. The business has a 50 day moving average price of $55.51 and a 200-day moving average price of $55.92. The stock has a market capitalization of $13.65 billion, a P/E ratio of 10.05, a PEG ratio of 1.23 and a beta of 1.33. The company has a debt-to-equity ratio of 8.17, a current ratio of 2.01 and a quick ratio of 1.54. Masco Co. has a fifty-two week low of $27.04 and a fifty-two week high of $60.16.
The company also recently disclosed a quarterly dividend, which was paid on Monday, February 8th. Stockholders of record on Friday, January 8th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend was Thursday, January 7th. Masco’s dividend payout ratio is presently 24.89%.
Masco announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 9th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the construction company to purchase up to 13.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
Several research analysts have weighed in on MAS shares. Zacks Investment Research lowered Masco from a “buy” rating to a “hold” rating and set a $58.00 target price on the stock. in a report on Tuesday, December 29th. Deutsche Bank Aktiengesellschaft lifted their target price on Masco from $64.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. Jefferies Financial Group downgraded Masco from a “buy” rating to a “hold” rating and dropped their price target for the company from $69.00 to $61.00 in a research note on Monday, January 4th. Barclays downgraded Masco from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $62.00 to $60.00 in a research note on Friday, December 18th. Finally, Credit Suisse Group lifted their price target on Masco from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 10th. They noted that the move was a valuation call. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $60.55.
In other news, CFO John G. Sznewajs sold 7,615 shares of the business’s stock in a transaction that occurred on Friday, February 5th. The stock was sold at an average price of $56.21, for a total transaction of $428,039.15. Following the completion of the sale, the chief financial officer now owns 222,475 shares in the company, valued at $12,505,319.75. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Keith J. Allman sold 28,261 shares of the business’s stock in a transaction that occurred on Friday, February 5th. The stock was sold at an average price of $56.21, for a total value of $1,588,550.81. Following the sale, the chief executive officer now owns 340,484 shares of the company’s stock, valued at approximately $19,138,605.64. The disclosure for this sale can be found here. Insiders own 1.23% of the company’s stock.
Masco Corporation designs, manufactures, and distributes home improvement and building products in North America, Europe, and internationally. The company operates through two segments, Plumbing Products and Decorative Architectural Products. The 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.
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