Harbour Trust & Investment Management Co Buys 5,299 Shares of Masco Co. (NYSE:MAS)

Harbour Trust & Investment Management Co lifted its position in Masco Co. (NYSE:MAS) by 8.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,362 shares of the construction company’s stock after purchasing an additional 5,299 shares during the period. Harbour Trust & Investment Management Co’s holdings in Masco were worth $5,486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Masco by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 26,300,591 shares of the construction company’s stock worth $2,074,591,000 after buying an additional 721,117 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Masco by 1.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 9,830,723 shares of the construction company’s stock valued at $655,414,000 after buying an additional 181,515 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Masco by 0.3% in the second quarter. Van ECK Associates Corp now owns 2,924,621 shares of the construction company’s stock worth $194,985,000 after buying an additional 9,094 shares in the last quarter. Impax Asset Management Group plc boosted its position in shares of Masco by 10.0% during the second quarter. Impax Asset Management Group plc now owns 2,855,056 shares of the construction company’s stock worth $190,347,000 after acquiring an additional 259,205 shares during the last quarter. Finally, Earnest Partners LLC grew its stake in Masco by 16.6% during the first quarter. Earnest Partners LLC now owns 2,245,644 shares of the construction company’s stock valued at $177,136,000 after acquiring an additional 319,029 shares in the last quarter. 93.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on MAS. Royal Bank of Canada boosted their price target on shares of Masco from $78.00 to $79.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. BMO Capital Markets boosted their target price on Masco from $78.00 to $85.00 and gave the stock a “market perform” rating in a research report on Tuesday. StockNews.com upgraded Masco from a “hold” rating to a “buy” rating in a report on Monday. Barclays lifted their price objective on Masco from $88.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Finally, Citigroup lowered their target price on Masco from $73.00 to $66.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Masco presently has an average rating of “Moderate Buy” and an average target price of $81.75.

Masco Stock Up 1.1 %

NYSE MAS opened at $82.88 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.76 and a debt-to-equity ratio of 16.18. Masco Co. has a 52 week low of $47.66 and a 52 week high of $86.70. The firm has a market capitalization of $18.25 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 2.64 and a beta of 1.24. The company has a fifty day moving average of $81.22 and a two-hundred day moving average of $74.28.

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. Masco had a net margin of 11.59% and a return on equity of 602.39%. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same period in the previous year, the company earned $1.19 EPS. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. On average, analysts predict that Masco Co. will post 4.11 earnings per share for the current year.

Insider Buying and Selling at Masco

In other news, VP Kenneth G. Cole sold 37,814 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $78.32, for a total value of $2,961,592.48. Following the sale, the vice president now directly owns 36,980 shares in the company, valued at approximately $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 can be accessed through the SEC website. Company insiders own 1.10% of the company’s stock.

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.