KBC Group NV Lowers Stock Holdings in Masco Co. (NYSE:MAS)

KBC Group NV cut its position in Masco Co. (NYSE:MAS) by 32.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 369,905 shares of the construction company’s stock after selling 175,881 shares during the quarter. KBC Group NV owned 0.17% of Masco worth $31,049,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Oppenheimer Asset Management Inc. grew its position in Masco by 10.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 157,513 shares of the construction company’s stock valued at $13,222,000 after acquiring an additional 15,070 shares in the last quarter. Haverford Trust Co boosted its stake in shares of Masco by 1.0% in the third quarter. Haverford Trust Co now owns 460,559 shares of the construction company’s stock valued at $38,659,000 after purchasing an additional 4,368 shares during the period. Empower Advisory Group LLC grew its holdings in shares of Masco by 1.5% in the third quarter. Empower Advisory Group LLC now owns 995,950 shares of the construction company’s stock valued at $83,600,000 after purchasing an additional 14,870 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Masco by 8.6% during the 3rd quarter. Victory Capital Management Inc. now owns 922,566 shares of the construction company’s stock worth $77,440,000 after buying an additional 73,405 shares in the last quarter. Finally, Aigen Investment Management LP purchased a new position in Masco in the 3rd quarter valued at approximately $241,000. Hedge funds and other institutional investors own 93.91% of the company’s stock.

Masco Trading Down 0.1 %

NYSE MAS opened at $79.19 on Friday. The firm’s fifty day moving average price is $81.84 and its 200 day moving average price is $75.08. Masco Co. has a 12 month low of $58.89 and a 12 month high of $86.70. The company has a debt-to-equity ratio of 20.74, a current ratio of 1.83 and a quick ratio of 1.21. The company has a market capitalization of $17.09 billion, a price-to-earnings ratio of 21.06, a price-to-earnings-growth ratio of 2.57 and a beta of 1.24.

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

Masco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Friday, November 8th. Masco’s payout ratio is currently 30.85%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Jefferies Financial Group upped their price objective on Masco from $89.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. BMO Capital Markets lifted their price objective on Masco from $78.00 to $85.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Truist Financial upped their target price on shares of Masco from $84.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Barclays boosted their price target on shares of Masco from $92.00 to $93.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, StockNews.com lowered shares of Masco from a “buy” rating to a “hold” rating in a report on Friday. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $85.96.

Insider Activity

In other 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 completion of the sale, the vice president now owns 36,980 shares in the company, valued at approximately $2,896,273.60. This represents a 50.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

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.