Norges Bank Takes Position in Masco Co. (NYSE:MAS)

Norges Bank purchased a new stake in Masco Co. (NYSE:MAS) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 1,781,805 shares of the construction company’s stock, valued at approximately $129,306,000.

Several other institutional investors also recently bought and sold shares of MAS. Franklin Resources Inc. boosted its stake in shares of Masco by 20.6% in the third quarter. Franklin Resources Inc. now owns 331,883 shares of the construction company’s stock worth $28,147,000 after acquiring an additional 56,626 shares during the last quarter. Foster Victor Wealth Advisors LLC lifted its holdings in Masco by 6.6% in the 4th quarter. Foster Victor Wealth Advisors LLC now owns 219,120 shares of the construction company’s stock valued at $17,135,000 after purchasing an additional 13,568 shares in the last quarter. Versant Capital Management Inc boosted its stake in Masco by 69.1% during the 4th quarter. Versant Capital Management Inc now owns 1,544 shares of the construction company’s stock worth $112,000 after purchasing an additional 631 shares during the last quarter. Empower Advisory Group LLC grew its holdings in shares of Masco by 2.0% during the fourth quarter. Empower Advisory Group LLC now owns 1,016,079 shares of the construction company’s stock worth $73,737,000 after buying an additional 20,129 shares in the last quarter. Finally, Principal Securities Inc. raised its position in shares of Masco by 20.5% in the fourth quarter. Principal Securities Inc. now owns 11,337 shares of the construction company’s stock valued at $823,000 after buying an additional 1,931 shares during the last quarter. 93.91% of the stock is currently owned by institutional investors and hedge funds.

Masco Stock Performance

Shares of MAS stock opened at $69.56 on Tuesday. The company has a debt-to-equity ratio of 20.74, a quick ratio of 1.15 and a current ratio of 1.75. The firm has a market cap of $14.75 billion, a P/E ratio of 18.50, a P/E/G ratio of 1.94 and a beta of 1.24. The firm’s 50 day moving average price is $75.06 and its 200-day moving average price is $77.85. Masco Co. has a one year low of $63.81 and a one year high of $86.70.

Masco (NYSE:MAS) last released its quarterly earnings results on Tuesday, February 11th. The construction company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the business earned $0.83 EPS. As a group, equities research analysts predict that Masco Co. will post 4.34 EPS for the current year.

Masco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 21st were given a $0.31 dividend. This is an increase from Masco’s previous quarterly dividend of $0.29. This represents a $1.24 annualized dividend and a yield of 1.78%. The ex-dividend date was Friday, February 21st. Masco’s payout ratio is currently 32.98%.

Insider Transactions at Masco

In other news, VP Renee Straber sold 3,139 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $71.78, for a total transaction of $225,317.42. Following the sale, the vice president now owns 33,027 shares of the company’s stock, valued at approximately $2,370,678.06. This represents a 8.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Keith J. Allman sold 21,723 shares of the stock in a transaction on Wednesday, February 26th. The shares were 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 disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on MAS shares. Royal Bank of Canada restated a “sector perform” rating and set a $74.00 price target on shares of Masco in a research report on Wednesday, February 12th. Wells Fargo & Company dropped their price target on Masco from $85.00 to $82.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Oppenheimer upgraded Masco from a “market perform” rating to an “outperform” rating and set a $89.00 price objective on the stock in a research report on Friday, January 10th. UBS Group dropped their target price on Masco from $94.00 to $91.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Finally, Barclays lifted their price target on Masco from $84.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $86.32.

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.