78,079 Masco Corporation $MAS Shares Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund grew its holdings in shares of Masco Corporation (NYSE:MAS) by 111.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 148,075 shares of the construction company’s stock after acquiring an additional 78,079 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Masco were worth $9,980,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of MAS. Keybank National Association OH lifted its holdings in Masco by 18.1% in the third quarter. Keybank National Association OH now owns 4,278 shares of the construction company’s stock worth $288,000 after purchasing an additional 655 shares during the period. New York Life Investment Management LLC raised its position in Masco by 3.8% in the third quarter. New York Life Investment Management LLC now owns 57,073 shares of the construction company’s stock worth $3,847,000 after acquiring an additional 2,080 shares in the last quarter. AlphaCore Capital LLC acquired a new position in shares of Masco in the 3rd quarter worth approximately $322,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Masco by 14.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 12,066 shares of the construction company’s stock worth $824,000 after purchasing an additional 1,502 shares in the last quarter. Finally, M Holdings Securities Inc. bought a new stake in shares of Masco in the 3rd quarter worth approximately $265,000. Institutional investors own 93.91% of the company’s stock.

Insider Buying and Selling at Masco

In other Masco news, VP Kenneth Cole sold 34,470 shares of the firm’s stock in a transaction on Friday, October 30th. The shares were sold at an average price of $80.64, for a total value of $2,779,660.80. Following the sale, the vice president directly owned 39,700 shares in the company, valued at $3,201,408. This trade represents a 46.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. UBS Group increased their target price on shares of Masco from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. Bank of America restated an “underperform” rating on shares of Masco in a research report on Thursday, October 29th. Truist Financial lifted their price target on shares of Masco from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, October 29th. Citigroup dropped their price target on Masco from $79.00 to $77.00 and set a “neutral” rating on the stock in a report on Friday, July 31st. Finally, DA Davidson set a $82.00 price objective on Masco in a research report on Thursday, October 29th. Seven analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $81.82.

Masco Stock Performance

Masco stock opened at $84.48 on Friday. Masco Corporation has a fifty-two week low of $58.16 and a fifty-two week high of $87.86. The firm’s 50 day simple moving average is $73.38 and its 200-day simple moving average is $71.54. The company has a debt-to-equity ratio of 109.07, a current ratio of 1.83 and a quick ratio of 1.20. The company has a market cap of $16.29 billion, a P/E ratio of 18.29, a price-to-earnings-growth ratio of 1.88 and a beta of 1.21.

Masco (NYSE:MAS) last posted its quarterly earnings results on Wednesday, October 28th. The construction company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.17. Masco had a net margin of 12.07% and a negative return on equity of 1,807.69%. The business had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same period in the prior year, the firm earned $0.97 earnings per share. The firm’s revenue was up 2.6% compared to the same quarter last year. As a group, equities research analysts predict that Masco Corporation will post 4.72 EPS for the current year.

Masco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Friday, November 6th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, November 6th. Masco’s payout ratio is currently 27.71%.

Masco Company Profile

Masco Corporation is a manufacturer of home improvement and building products, serving residential construction, repair and remodeling markets. Its products are sold primarily in North America and Europe, as well as in other markets around the world. The company’s Plumbing Products include faucets, showering and bathing products, and related fixtures and accessories. Its brands include Delta Faucet, Brizo, Peerless and hansgrohe. Masco also makes decorative architectural products, including paints and coatings sold under the BEHR and KILZ brands.