Van ECK Associates Corp Boosts Holdings in Masco Co. (NYSE:MAS)

Van ECK Associates Corp raised its holdings in Masco Co. (NYSE:MAS) by 0.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,950,880 shares of the construction company’s stock after purchasing an additional 26,259 shares during the quarter. Van ECK Associates Corp’s holdings in Masco were worth $241,825,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. purchased a new stake in shares of Masco during the 1st quarter worth about $25,000. Innealta Capital LLC purchased a new stake in shares of Masco during the 2nd quarter worth about $25,000. Family Firm Inc. purchased a new stake in shares of Masco during the 2nd quarter worth about $30,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of Masco by 46.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the construction company’s stock worth $38,000 after acquiring an additional 179 shares in the last quarter. Finally, Larson Financial Group LLC boosted its stake in shares of Masco by 4,545.5% during the 1st quarter. Larson Financial Group LLC now owns 511 shares of the construction company’s stock worth $40,000 after acquiring an additional 500 shares in the last quarter. 93.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Masco

In other Masco news, VP Kenneth G. Cole sold 37,814 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $78.32, for a total value of $2,961,592.48. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by insiders.

Masco Trading Up 0.3 %

Shares of NYSE MAS traded up $0.27 during midday trading on Friday, reaching $80.18. 984,078 shares of the stock were exchanged, compared to its average volume of 1,487,033. The company has a 50 day simple moving average of $81.60 and a 200 day simple moving average of $74.53. The stock has a market capitalization of $17.30 billion, a P/E ratio of 21.32, a PEG ratio of 2.58 and a beta of 1.24. The company has a debt-to-equity ratio of 20.74, a quick ratio of 1.12 and a current ratio of 1.83. Masco Co. has a twelve month low of $53.44 and a twelve month high of $86.70.

Masco (NYSE:MAS) last issued its earnings results on Tuesday, October 29th. The construction company reported $1.08 EPS for the quarter, hitting analysts’ consensus estimates of $1.08. Masco had a net margin of 10.54% and a return on equity of 615.54%. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $2 billion. During the same quarter in the previous year, the firm posted $1.00 earnings per share. The company’s revenue was up .2% compared to the same quarter last year. As a group, equities analysts expect that Masco Co. will post 4.1 earnings per share for the current year.

Masco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.16 annualized dividend and a yield of 1.45%. Masco’s dividend payout ratio is presently 30.85%.

Wall Street Analyst Weigh In

MAS has been the topic of a number of research reports. Royal Bank of Canada lowered shares of Masco from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $79.00 to $80.00 in a research note on Wednesday. Citigroup decreased their price target 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. Jefferies Financial Group raised their price target on shares of Masco from $89.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. UBS Group raised their price target on shares of Masco from $89.00 to $94.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Truist Financial raised their price target on shares of Masco from $84.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $84.85.

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.