Masco Co. (NYSE:MAS) Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC lessened its stake in shares of Masco Co. (NYSE:MAS) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 921,174 shares of the construction company’s stock after selling 26,691 shares during the quarter. Confluence Investment Management LLC’s holdings in Masco were worth $66,850,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Principal Financial Group Inc. lifted its stake in shares of Masco by 2.8% in the 3rd quarter. Principal Financial Group Inc. now owns 263,155 shares of the construction company’s stock worth $22,089,000 after acquiring an additional 7,089 shares during the period. B. Riley Wealth Advisors Inc. lifted its position in Masco by 6.1% in the third quarter. B. Riley Wealth Advisors Inc. now owns 7,286 shares of the construction company’s stock valued at $608,000 after purchasing an additional 416 shares during the period. Franklin Resources Inc. boosted its holdings in Masco by 20.6% in the 3rd quarter. Franklin Resources Inc. now owns 331,883 shares of the construction company’s stock valued at $28,147,000 after purchasing an additional 56,626 shares in the last quarter. Synovus Financial Corp increased its position in Masco by 1.3% during the 3rd quarter. Synovus Financial Corp now owns 28,725 shares of the construction company’s stock worth $2,411,000 after purchasing an additional 364 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Masco during the 3rd quarter worth approximately $206,000. 93.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on MAS shares. Royal Bank of Canada cut Masco from an “outperform” rating to a “sector perform” rating and increased their price objective for the stock from $79.00 to $80.00 in a research report on Wednesday, October 30th. Truist Financial upped their target price on Masco from $84.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. BMO Capital Markets raised their price target on shares of Masco from $78.00 to $85.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their price objective on Masco from $80.00 to $83.50 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Finally, StockNews.com lowered shares of Masco from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Masco currently has an average rating of “Hold” and an average target price of $85.88.

Masco Stock Down 0.1 %

Masco stock traded down $0.05 during trading on Thursday, reaching $72.52. 104,703 shares of the company’s stock were exchanged, compared to its average volume of 1,749,544. Masco Co. has a 52-week low of $63.60 and a 52-week high of $86.70. The company’s 50-day moving average is $78.47 and its two-hundred day moving average is $77.07. 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 $15.65 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 2.55 and a beta of 1.23.

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

Masco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Friday, November 8th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Friday, November 8th. Masco’s payout ratio is currently 30.85%.

Masco Company 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.