Legal & General Group Plc reduced its position in Masco Co. (NYSE:MAS – Free Report) by 19.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,429,113 shares of the construction company’s stock after selling 339,610 shares during the quarter. Legal & General Group Plc owned about 0.66% of Masco worth $103,711,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of MAS. Integrated Wealth Concepts LLC purchased a new position in Masco during the 3rd quarter worth $239,000. National Bank of Canada FI grew its holdings in shares of Masco by 81.0% during the third quarter. National Bank of Canada FI now owns 112,835 shares of the construction company’s stock worth $9,471,000 after buying an additional 50,512 shares during the last quarter. MML Investors Services LLC increased its position in Masco by 10.8% in the 3rd quarter. MML Investors Services LLC now owns 79,797 shares of the construction company’s stock valued at $6,698,000 after acquiring an additional 7,764 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in Masco by 13.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 117,625 shares of the construction company’s stock valued at $9,873,000 after acquiring an additional 14,131 shares during the last quarter. Finally, Barclays PLC lifted its position in Masco by 49.2% during the 3rd quarter. Barclays PLC now owns 883,859 shares of the construction company’s stock worth $74,192,000 after acquiring an additional 291,658 shares during the period. 93.91% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other Masco news, VP Renee Straber sold 3,139 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $71.78, for a total value of $225,317.42. Following the transaction, the vice president now directly owns 33,027 shares in the company, valued at approximately $2,370,678.06. This represents a 8.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Keith J. Allman sold 21,723 shares of the firm’s stock in a transaction dated 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 directly owns 60,267 shares in the company, valued at $4,601,988.12. This represents a 26.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.
Masco Price Performance
Masco (NYSE:MAS – Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The construction company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. Masco had a net margin of 10.50% and a return on equity of 838.32%. During the same period last year, the firm earned $0.83 EPS. As a group, research analysts forecast that Masco Co. will post 4.34 earnings per share for the current fiscal year.
Masco Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 21st were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.01%. This is a boost from Masco’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, February 21st. Masco’s payout ratio is 32.98%.
Analysts Set New Price Targets
MAS has been the topic of a number of recent research reports. Barclays dropped their target price on Masco from $87.00 to $75.00 and set an “overweight” rating on the stock in a report on Tuesday. Citigroup cut their price objective on shares of Masco from $82.00 to $77.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. The Goldman Sachs Group lifted their target price 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 cut shares of Masco from a “buy” rating to a “hold” rating and cut their price target for the stock from $96.00 to $89.00 in a report on Monday, December 16th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $74.00 price objective on shares of Masco in a report on Wednesday, February 12th. Ten equities research 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 company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $84.50.
View Our Latest Analysis on Masco
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.
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