Geode Capital Management LLC Raises Stock Holdings in Masco Co. (NYSE:MAS)

Geode Capital Management LLC increased its holdings in Masco Co. (NYSE:MAS) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,129,771 shares of the construction company’s stock after purchasing an additional 58,739 shares during the quarter. Geode Capital Management LLC owned approximately 2.38% of Masco worth $371,265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. State Street Corp lifted its holdings in Masco by 1.9% in the third quarter. State Street Corp now owns 10,294,294 shares of the construction company’s stock worth $864,103,000 after buying an additional 194,297 shares during the period. Van ECK Associates Corp lifted its stake in shares of Masco by 10.2% in the fourth quarter. Van ECK Associates Corp now owns 3,250,400 shares of the construction company’s stock worth $235,881,000 after buying an additional 299,520 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Masco by 21.0% during the fourth quarter. Nordea Investment Management AB now owns 2,997,839 shares of the construction company’s stock valued at $218,063,000 after buying an additional 520,555 shares during the last quarter. Schroder Investment Management Group increased its position in shares of Masco by 9.7% during the fourth quarter. Schroder Investment Management Group now owns 2,103,820 shares of the construction company’s stock valued at $152,569,000 after acquiring an additional 185,286 shares in the last quarter. Finally, Norges Bank purchased a new position in Masco in the 4th quarter worth approximately $129,306,000. Hedge funds and other institutional investors own 93.91% of the company’s stock.

Insider Activity

In related news, CEO Keith J. Allman sold 21,723 shares of Masco stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $76.36, for a total transaction of $1,658,768.28. Following the sale, the chief executive officer now owns 60,267 shares of the company’s stock, valued at approximately $4,601,988.12. This trade represents a 26.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Renee Straber sold 3,139 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 33,027 shares of the company’s stock, 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. Insiders own 1.10% of the company’s stock.

Masco Price Performance

NYSE MAS opened at $62.85 on Friday. The business’s fifty day moving average is $74.10 and its 200 day moving average is $77.51. Masco Co. has a fifty-two week low of $60.29 and a fifty-two week high of $86.70. 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 company has a market capitalization of $13.30 billion, a PE ratio of 16.72, a price-to-earnings-growth ratio of 1.94 and a beta of 1.24.

Masco (NYSE:MAS) last posted its quarterly earnings data on Tuesday, February 11th. The construction company reported $0.89 earnings per share for the quarter, beating 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 company posted $0.83 EPS. Sell-side analysts predict that Masco Co. will post 4.34 earnings per share for the current year.

Masco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 21st were paid a $0.31 dividend. The ex-dividend date of this dividend was Friday, February 21st. This is a boost from Masco’s previous quarterly dividend of $0.29. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.97%. Masco’s dividend payout ratio is 32.98%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on MAS shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $74.00 target price on shares of Masco in a report on Wednesday, February 12th. UBS Group decreased their target price on Masco from $94.00 to $91.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. The Goldman Sachs Group upped their target price on shares of Masco from $85.00 to $96.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Barclays lifted their price target on shares of Masco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Finally, Citigroup lowered their price objective 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. Ten analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Masco has a consensus rating of “Hold” and an average price target of $85.30.

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.