First Horizon Advisors Inc. Cuts Stake in Masco Co. (NYSE:MAS)

First Horizon Advisors Inc. reduced its stake in shares of Masco Co. (NYSE:MAS) by 1.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,324 shares of the construction company’s stock after selling 2,065 shares during the quarter. First Horizon Advisors Inc.’s holdings in Masco were worth $8,394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Jackson Creek Investment Advisors LLC purchased a new position in shares of Masco in the fourth quarter valued at $627,000. Nisa Investment Advisors LLC grew its holdings in shares of Masco by 35.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 59,792 shares of the construction company’s stock valued at $4,005,000 after purchasing an additional 15,591 shares in the last quarter. New York State Teachers Retirement System grew its holdings in shares of Masco by 8.6% in the fourth quarter. New York State Teachers Retirement System now owns 229,507 shares of the construction company’s stock valued at $15,372,000 after purchasing an additional 18,140 shares in the last quarter. Ritholtz Wealth Management boosted its stake in Masco by 264.5% during the fourth quarter. Ritholtz Wealth Management now owns 18,219 shares of the construction company’s stock worth $1,220,000 after buying an additional 13,221 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Masco by 6.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 344,141 shares of the construction company’s stock worth $23,051,000 after buying an additional 21,165 shares during the period. 93.91% of the stock is owned by hedge funds and other institutional investors.

Masco Stock Performance

NYSE:MAS traded up $0.56 during trading hours on Friday, reaching $69.54. The company had a trading volume of 1,392,156 shares, compared to its average volume of 2,065,198. Masco Co. has a 1-year low of $47.66 and a 1-year high of $78.94. The firm has a market cap of $15.32 billion, a PE ratio of 16.91, a price-to-earnings-growth ratio of 1.80 and a beta of 1.28. The business’s 50 day moving average price is $74.79 and its 200-day moving average price is $67.35. The company has a debt-to-equity ratio of 18.76, a current ratio of 1.74 and a quick ratio of 1.09.

Masco (NYSE:MAS) last announced its earnings results on Wednesday, April 24th. The construction company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.06. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.94 billion. Masco had a return on equity of 865.37% and a net margin of 11.60%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.87 EPS. Research analysts forecast that Masco Co. will post 4.11 EPS for the current year.

Masco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Thursday, February 22nd were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.67%. This is an increase from Masco’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Wednesday, February 21st. Masco’s dividend payout ratio is presently 28.43%.

Analyst Upgrades and Downgrades

Several research analysts have commented on MAS shares. Royal Bank of Canada lifted their price objective on shares of Masco from $79.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. StockNews.com lowered shares of Masco from a “buy” rating to a “hold” rating in a research note on Friday. Truist Financial lifted their target price on Masco from $65.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Oppenheimer started coverage on Masco in a research report on Friday, January 19th. They set a “market perform” rating for the company. Finally, Loop Capital decreased their target price on Masco from $79.00 to $76.00 and set a “hold” rating for the company in a research report on Thursday, April 25th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $72.15.

Insider Transactions at Masco

In other news, VP Kenneth G. Cole sold 36,210 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $74.65, for a total transaction of $2,703,076.50. Following the completion of the transaction, the vice president now directly owns 58,885 shares of the company’s stock, valued at approximately $4,395,765.25. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, VP Kenneth G. Cole sold 36,210 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $74.65, for a total value of $2,703,076.50. Following the completion of the transaction, the vice president now directly owns 58,885 shares of the company’s stock, valued at approximately $4,395,765.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Richard Allan Marshall sold 5,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $77.05, for a total value of $385,250.00. Following the completion of the transaction, the vice president now directly owns 10,465 shares of the company’s stock, valued at $806,328.25. The disclosure for this sale can be found here. Insiders sold a total of 83,762 shares of company stock valued at $6,337,597 in the last three months. 1.10% of the stock is currently owned by company insiders.

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.