Bellevue Asset Management LLC Reduces Holdings in Masco Co. (NYSE:MAS)

Bellevue Asset Management LLC reduced its holdings in shares of Masco Co. (NYSE:MAS) by 46.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 773 shares of the construction company’s stock after selling 670 shares during the period. Bellevue Asset Management LLC’s holdings in Masco were worth $52,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of MAS. Exchange Traded Concepts LLC purchased a new stake in shares of Masco during the third quarter worth about $66,000. Asset Management One Co. Ltd. grew 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 buying an additional 4,702 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Masco by 2.1% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 12,592 shares of the construction company’s stock worth $673,000 after buying an additional 255 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Masco by 19.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 188,836 shares of the construction company’s stock worth $10,093,000 after buying an additional 30,116 shares in the last quarter. Finally, Xponance Inc. grew its holdings in shares of Masco by 30.0% during the third quarter. Xponance Inc. now owns 38,903 shares of the construction company’s stock worth $2,079,000 after buying an additional 8,988 shares in the last quarter. 93.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MAS has been the subject of a number of recent research reports. Truist Financial lifted their price target 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 raised their target price on shares of Masco from $74.00 to $79.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Loop Capital decreased their target price on shares of Masco from $79.00 to $76.00 and set a “hold” rating on the stock in a research report on Thursday, April 25th. Oppenheimer started coverage on shares of Masco in a research report on Friday, January 19th. They issued a “market perform” rating on the stock. Finally, StockNews.com cut shares of Masco from a “buy” rating to a “hold” rating in a research report on Friday. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $72.15.

Insider Activity

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

Masco Trading Up 0.8 %

MAS traded up $0.58 during trading on Friday, hitting $69.56. 1,392,157 shares of the company’s stock were exchanged, compared to its average volume of 2,044,926. The company has a current ratio of 1.74, a quick ratio of 1.09 and a debt-to-equity ratio of 18.76. Masco Co. has a 1 year low of $47.66 and a 1 year high of $78.94. The stock has a 50 day moving average price of $74.68 and a 200 day moving average price of $67.57. The firm has a market cap of $15.32 billion, a P/E ratio of 17.05, a price-to-earnings-growth ratio of 1.83 and a beta of 1.28.

Masco (NYSE:MAS) last announced its earnings results on Wednesday, April 24th. The construction company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.06. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.94 billion. Masco had a net margin of 11.60% and a return on equity of 865.37%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.87 earnings per share. As a group, analysts expect that Masco Co. will post 4.11 EPS for the current fiscal year.

Masco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Thursday, February 22nd were paid a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This is an increase from Masco’s previous quarterly dividend of $0.29. This represents a $1.16 annualized dividend and a dividend yield of 1.67%. Masco’s dividend payout ratio is 28.43%.

About Masco

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.