Korea Investment CORP Acquires 30,835 Shares of Masco Co. (NYSE:MAS)

Korea Investment CORP lifted its holdings in Masco Co. (NYSE:MAS) by 15.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 225,304 shares of the construction company’s stock after buying an additional 30,835 shares during the quarter. Korea Investment CORP’s holdings in Masco were worth $16,350,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in Masco in the 4th quarter worth approximately $27,000. ORG Wealth Partners LLC purchased a new position in shares of Masco in the fourth quarter worth $27,000. Kestra Investment Management LLC purchased a new position in shares of Masco in the fourth quarter worth $30,000. Lee Danner & Bass Inc. purchased a new position in Masco during the fourth quarter valued at $42,000. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in Masco by 26.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 703 shares of the construction company’s stock valued at $51,000 after acquiring an additional 148 shares during the last quarter. Hedge funds and other institutional investors own 93.91% of the company’s stock.

Insider Buying and Selling

In related news, CEO Keith J. Allman sold 21,723 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $76.36, for a total value of $1,658,768.28. Following the completion of the sale, the chief executive officer now owns 60,267 shares in the company, valued at approximately $4,601,988.12. The trade was a 26.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Renee Straber sold 3,139 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $71.78, for a total value of $225,317.42. Following the transaction, the vice president now owns 33,027 shares in the company, valued at $2,370,678.06. The trade was a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Masco Stock Performance

Shares of NYSE:MAS opened at $68.63 on Friday. The company has a current ratio of 1.75, a quick ratio of 1.15 and a debt-to-equity ratio of 20.74. The company has a market capitalization of $14.55 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 1.94 and a beta of 1.24. Masco Co. has a 12 month low of $63.81 and a 12 month high of $86.70. The firm’s 50-day moving average is $75.24 and its 200 day moving average is $77.92.

Masco (NYSE:MAS) last issued its quarterly earnings results on Tuesday, February 11th. The construction company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. Masco had a return on equity of 838.32% and a net margin of 10.50%. During the same period in the prior year, the business earned $0.83 EPS. Research analysts predict that Masco Co. will post 4.34 EPS for the current year.

Masco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 21st were paid a dividend of $0.31 per share. This is a positive change from Masco’s previous quarterly dividend of $0.29. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Friday, February 21st. Masco’s payout ratio is currently 32.98%.

Analyst Ratings Changes

MAS has been the subject of several research reports. The Goldman Sachs Group increased their price objective on shares of Masco from $85.00 to $96.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Jefferies Financial Group downgraded Masco from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $96.00 to $89.00 in a research note on Monday, December 16th. Barclays upped their price objective on Masco from $84.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Citigroup cut their target price on shares of Masco from $82.00 to $77.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Finally, Oppenheimer raised shares of Masco from a “market perform” rating to an “outperform” rating and set a $89.00 price target on the stock in a research note on Friday, January 10th. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $86.32.

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.