Carnegie Investment Counsel Lowers Stake in Masco Co. (NYSE:MAS)

Carnegie Investment Counsel cut its stake in Masco Co. (NYSE:MAS) by 22.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,920 shares of the construction company’s stock after selling 32,556 shares during the quarter. Carnegie Investment Counsel’s holdings in Masco were worth $8,122,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. raised its position in shares of Masco by 13.4% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 4,463 shares of the construction company’s stock valued at $324,000 after buying an additional 527 shares during the period. Park Avenue Securities LLC grew its stake in shares of Masco by 23.1% in the fourth quarter. Park Avenue Securities LLC now owns 38,556 shares of the construction company’s stock worth $2,798,000 after acquiring an additional 7,242 shares in the last quarter. Kathmere Capital Management LLC grew its stake in shares of Masco by 13.0% in the fourth quarter. Kathmere Capital Management LLC now owns 3,990 shares of the construction company’s stock worth $290,000 after acquiring an additional 460 shares in the last quarter. Oak Thistle LLC grew its stake in shares of Masco by 133.5% during the fourth quarter. Oak Thistle LLC now owns 29,435 shares of the construction company’s stock worth $2,136,000 after purchasing an additional 16,830 shares in the last quarter. Finally, Tealwood Asset Management Inc. grew its stake in shares of Masco by 0.8% during the fourth quarter. Tealwood Asset Management Inc. now owns 17,921 shares of the construction company’s stock worth $1,301,000 after purchasing an additional 147 shares in the last quarter. 93.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. BMO Capital Markets upped their target price on shares of Masco from $78.00 to $85.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Citigroup lowered their price target on shares of Masco from $82.00 to $77.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Oppenheimer upgraded shares of Masco from a “market perform” rating to an “outperform” rating and set a $89.00 target price on the stock in a research report on Friday, January 10th. Truist Financial increased their price target on shares of Masco from $84.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird cut their target price on shares of Masco from $95.00 to $94.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $86.27.

Masco Stock Up 0.6 %

MAS opened at $77.54 on Friday. Masco Co. has a twelve month low of $63.81 and a twelve month high of $86.70. The firm’s 50-day simple moving average is $76.90 and its 200-day simple moving average is $77.45. The company has a debt-to-equity ratio of 20.74, a quick ratio of 1.21 and a current ratio of 1.83. The firm has a market cap of $16.73 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 2.17 and a beta of 1.25.

Masco (NYSE:MAS) last released its earnings results on Tuesday, October 29th. The construction company reported $1.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.08. Masco had a net margin of 10.54% and a return on equity of 615.54%. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $2 billion. During the same period in the prior year, the company posted $1.00 EPS. The company’s revenue was up .2% compared to the same quarter last year. Equities research analysts anticipate that Masco Co. will post 4.09 EPS for the current fiscal year.

Masco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Friday, November 8th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.16 dividend on an annualized basis and a yield of 1.50%. Masco’s payout ratio is 30.85%.

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.