Ameriprise Financial Inc. Buys 142,318 Shares of Masco Co. (NYSE:MAS)

Ameriprise Financial Inc. lifted its stake in shares of Masco Co. (NYSE:MAS) by 6.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,463,217 shares of the construction company’s stock after acquiring an additional 142,318 shares during the period. Ameriprise Financial Inc.’s holdings in Masco were worth $178,756,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Franklin Resources Inc. increased its holdings in Masco by 20.6% during the 3rd quarter. Franklin Resources Inc. now owns 331,883 shares of the construction company’s stock worth $28,147,000 after purchasing an additional 56,626 shares in the last quarter. Foster Victor Wealth Advisors LLC grew its holdings in shares of Masco by 6.6% during the fourth quarter. Foster Victor Wealth Advisors LLC now owns 219,120 shares of the construction company’s stock worth $17,135,000 after buying an additional 13,568 shares in the last quarter. Hillsdale Investment Management Inc. raised its position in Masco by 5,050.0% in the 4th quarter. Hillsdale Investment Management Inc. now owns 10,300 shares of the construction company’s stock valued at $747,000 after buying an additional 10,100 shares during the last quarter. Empower Advisory Group LLC lifted its stake in Masco by 2.0% in the 4th quarter. Empower Advisory Group LLC now owns 1,016,079 shares of the construction company’s stock valued at $73,737,000 after acquiring an additional 20,129 shares in the last quarter. Finally, Principal Securities Inc. boosted its position in Masco by 20.5% during the 4th quarter. Principal Securities Inc. now owns 11,337 shares of the construction company’s stock worth $823,000 after acquiring an additional 1,931 shares during the last quarter. 93.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Masco in a report on Tuesday, April 1st. They set a “hold” rating and a $71.00 target price for the company. Wells Fargo & Company decreased their price objective on Masco from $82.00 to $65.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. Zelman & Associates upgraded Masco to a “strong-buy” rating in a report on Friday, January 17th. UBS Group restated a “buy” rating and issued a $80.00 price target (down from $91.00) on shares of Masco in a research note on Thursday, April 24th. Finally, Truist Financial dropped their price objective on Masco from $92.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Ten analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Masco presently has a consensus rating of “Hold” and a consensus target price of $73.10.

Masco Price Performance

Shares of MAS opened at $60.58 on Wednesday. The firm has a market capitalization of $12.78 billion, a PE ratio of 16.11, a PEG ratio of 1.94 and a beta of 1.23. The company has a debt-to-equity ratio of 20.74, a current ratio of 1.75 and a quick ratio of 1.15. The company’s 50-day moving average is $66.15 and its 200-day moving average is $73.78. Masco Co. has a fifty-two week low of $56.55 and a fifty-two week high of $86.70.

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

Masco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 21st were given a dividend of $0.31 per share. This is a boost from Masco’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.24 annualized dividend and a yield of 2.05%. Masco’s dividend payout ratio (DPR) is presently 33.88%.

Insider Transactions at Masco

In other news, CEO Keith J. Allman sold 21,723 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $76.36, for a total transaction of $1,658,768.28. Following the transaction, the chief executive officer now directly owns 60,267 shares of the company’s stock, valued at approximately $4,601,988.12. This trade represents a 26.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Renee Straber sold 3,139 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $71.78, for a total value of $225,317.42. Following the completion of the sale, the vice president now owns 33,027 shares of the company’s stock, valued at approximately $2,370,678.06. This trade represents a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.