Enterprise Bank & Trust Co Decreases Position in Masco Co. (NYSE:MAS)

Enterprise Bank & Trust Co lessened its stake in Masco Co. (NYSE:MAS) by 66.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,215 shares of the construction company’s stock after selling 12,543 shares during the quarter. Enterprise Bank & Trust Co’s holdings in Masco were worth $432,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Golden State Wealth Management LLC bought a new stake in shares of Masco in the fourth quarter valued at $27,000. Kestra Investment Management LLC purchased a new stake in Masco in the 4th quarter worth about $30,000. Lee Danner & Bass Inc. purchased a new stake in Masco in the 4th quarter worth about $42,000. GeoWealth Management LLC raised its stake in Masco by 89.0% in the 4th quarter. GeoWealth Management LLC now owns 684 shares of the construction company’s stock valued at $50,000 after acquiring an additional 322 shares during the period. Finally, SRS Capital Advisors Inc. lifted its holdings in Masco by 74.3% during the fourth quarter. SRS Capital Advisors Inc. now owns 774 shares of the construction company’s stock valued at $56,000 after purchasing an additional 330 shares during the last quarter. Hedge funds and other institutional investors own 93.91% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Evercore ISI reduced their target price on shares of Masco from $82.00 to $71.00 and set an “in-line” rating for the company in a research note on Thursday, April 24th. Royal Bank of Canada cut their price objective on shares of Masco from $74.00 to $62.00 and set a “sector perform” rating for the company in a report on Thursday, April 24th. Jefferies Financial Group lowered their target price on shares of Masco from $64.00 to $62.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. Wall Street Zen upgraded Masco from a “sell” rating to a “hold” rating in a research report on Saturday, May 24th. Finally, Loop Capital set a $62.00 price target on Masco and gave the company a “hold” rating in a research report on Thursday, April 24th. Ten analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Masco presently has a consensus rating of “Hold” and an average target price of $73.63.

Masco Price Performance

Masco stock opened at $62.36 on Monday. The stock has a market cap of $13.15 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 1.94 and a beta of 1.23. The company has a quick ratio of 1.15, a current ratio of 1.75 and a debt-to-equity ratio of 20.74. The business has a 50-day simple moving average of $63.39 and a 200 day simple moving average of $71.63. Masco Co. has a 52 week low of $56.55 and a 52 week high of $86.70.

Masco (NYSE:MAS) last issued its quarterly earnings results on Wednesday, April 23rd. The construction company reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.05). The business had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.84 billion. Masco had a net margin of 10.50% and a return on equity of 838.32%. The business’s revenue was down 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.93 EPS. On average, research analysts forecast that Masco Co. will post 4.34 earnings per share for the current fiscal year.

Masco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Friday, May 23rd will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, May 23rd. Masco’s dividend payout ratio (DPR) is currently 33.88%.

Insider Activity

In related news, VP Renee Straber sold 3,139 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $71.78, for a total value of $225,317.42. Following the transaction, the vice president now owns 33,027 shares of the company’s stock, valued at $2,370,678.06. This represents a 8.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.50% 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.