First Horizon Advisors Inc. Increases Holdings in Masco Co. (NYSE:MAS)

First Horizon Advisors Inc. lifted its position in Masco Co. (NYSE:MAS) by 450.7% in the third quarter, Holdings Channel reports. The firm owned 1,564 shares of the construction company’s stock after buying an additional 1,280 shares during the period. First Horizon Advisors Inc.’s holdings in Masco were worth $105,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its holdings in Masco by 4.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 20,551,785 shares of the construction company’s stock worth $1,210,705,000 after buying an additional 805,046 shares during the period. BlackRock Inc. lifted its holdings in Masco by 0.3% during the second quarter. BlackRock Inc. now owns 20,142,592 shares of the construction company’s stock worth $1,186,600,000 after buying an additional 53,439 shares during the period. Geode Capital Management LLC lifted its holdings in Masco by 0.5% during the second quarter. Geode Capital Management LLC now owns 4,319,542 shares of the construction company’s stock worth $253,724,000 after buying an additional 19,589 shares during the period. Boston Partners lifted its holdings in Masco by 3.2% during the third quarter. Boston Partners now owns 3,318,175 shares of the construction company’s stock worth $184,340,000 after buying an additional 102,311 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in Masco by 103.6% during the third quarter. Nordea Investment Management AB now owns 3,007,474 shares of the construction company’s stock worth $168,538,000 after buying an additional 1,530,169 shares during the period. Hedge funds and other institutional investors own 91.44% of the company’s stock.

NYSE MAS opened at $67.28 on Friday. The company has a debt-to-equity ratio of 29.21, a current ratio of 1.81 and a quick ratio of 1.22. The stock’s fifty day moving average price is $67.78 and its 200 day moving average price is $62.43. Masco Co. has a 1 year low of $51.97 and a 1 year high of $71.06. The company has a market cap of $16.42 billion, a price-to-earnings ratio of 36.77, a PEG ratio of 1.05 and a beta of 1.33.

Masco (NYSE:MAS) last announced its quarterly earnings results on Wednesday, October 27th. The construction company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.11. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.09 billion. Masco had a return on equity of 480.10% and a net margin of 5.76%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the firm earned $1.04 EPS. Research analysts expect that Masco Co. will post 3.73 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, November 29th. Shareholders of record on Friday, November 12th were given a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend was Wednesday, November 10th. Masco’s dividend payout ratio is currently 51.37%.

In other news, CAO John P. Lindow sold 9,430 shares of the stock in a transaction dated Wednesday, December 29th. The shares were sold at an average price of $70.00, for a total transaction of $660,100.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO John P. Lindow sold 67,009 shares of the stock in a transaction dated Thursday, October 28th. The stock was sold at an average price of $65.00, for a total transaction of $4,355,585.00. The disclosure for this sale can be found here. Insiders have sold a total of 119,939 shares of company stock worth $7,834,920 over the last ninety days. 1.20% of the stock is owned by insiders.

A number of equities analysts have recently issued reports on the company. KeyCorp upped their price target on Masco from $72.00 to $79.00 and gave the stock an “overweight” rating in a research report on Thursday, October 28th. Truist upped their price target on Masco from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, January 5th. Wells Fargo & Company upped their price target on Masco from $65.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, October 28th. Barclays raised Masco from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $67.00 to $83.00 in a research report on Wednesday, December 15th. Finally, Loop Capital upped their price target on Masco from $60.00 to $67.00 and gave the stock a “hold” rating in a research report on Thursday, October 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Masco presently has an average rating of “Buy” and a consensus price target of $74.17.

Masco Profile

Masco Corp. engages in the design, manufacture, marketing and distribution of branded home improvement and building products. It operates through the following business segments: Plumbing Products and Decorative Architectural Products. The Plumbing Products segment includes faucets; plumbing fittings and valves; showerheads and hand showers; bathtubs and shower enclosures; toilets; spas, and exercise pools.

Further Reading: Price to Earnings Ratio (PE)

Want to see what other hedge funds are holding MAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Masco Co. (NYSE:MAS).

Institutional Ownership by Quarter for Masco (NYSE:MAS)

Receive News & Ratings for Masco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Masco and related companies with MarketBeat.com's FREE daily email newsletter.