Ledyard National Bank Has $2.20 Million Holdings in Masco Co. (NYSE:MAS)

Ledyard National Bank increased its holdings in shares of Masco Co. (NYSE:MAS) by 28.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 26,147 shares of the construction company’s stock after purchasing an additional 5,855 shares during the period. Ledyard National Bank’s holdings in Masco were worth $2,195,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. New Covenant Trust Company N.A. bought a new stake in shares of Masco in the 1st quarter worth approximately $25,000. Innealta Capital LLC bought a new position in Masco during the second quarter worth about $25,000. Family Firm Inc. bought a new stake in shares of Masco in the 2nd quarter valued at approximately $30,000. Larson Financial Group LLC raised its holdings in shares of Masco by 4,545.5% in the 1st quarter. Larson Financial Group LLC now owns 511 shares of the construction company’s stock worth $40,000 after buying an additional 500 shares in the last quarter. Finally, Riverview Trust Co acquired a new position in Masco in the first quarter valued at about $43,000. 93.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Truist Financial lifted their target price on shares of Masco from $81.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Robert W. Baird increased their target price on Masco from $88.00 to $95.00 and gave the stock an “outperform” rating in a report on Monday. Royal Bank of Canada upped their price target on shares of Masco from $78.00 to $79.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Jefferies Financial Group boosted their target price on shares of Masco from $89.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Citigroup lowered their price target on shares of Masco from $73.00 to $66.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.17.

Masco Price Performance

Shares of MAS opened at $84.19 on Tuesday. The firm has a market capitalization of $18.54 billion, a PE ratio of 20.63, a PEG ratio of 2.64 and a beta of 1.24. The company has a debt-to-equity ratio of 16.18, a current ratio of 1.76 and a quick ratio of 1.12. Masco Co. has a fifty-two week low of $47.66 and a fifty-two week high of $86.70. The company’s 50-day moving average is $80.57 and its 200-day moving average is $74.07.

Masco (NYSE:MAS) last released its quarterly earnings results on Thursday, July 25th. The construction company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.02. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.10 billion. Masco had a net margin of 11.59% and a return on equity of 602.39%. Masco’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period last year, the firm earned $1.19 earnings per share. Equities analysts forecast that Masco Co. will post 4.11 EPS for the current year.

Masco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 2nd were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Friday, August 2nd. Masco’s dividend payout ratio is currently 28.43%.

Insider Buying and Selling at Masco

In other Masco news, VP Kenneth G. Cole sold 37,814 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $78.32, for a total transaction of $2,961,592.48. Following the sale, the vice president now directly owns 36,980 shares in the company, valued at $2,896,273.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

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.