Kentucky Retirement Systems Cuts Stock Holdings in Masco Co. (NYSE:MAS)

Kentucky Retirement Systems cut its stake in shares of Masco Co. (NYSE:MAS) by 7.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,690 shares of the construction company’s stock after selling 1,272 shares during the quarter. Kentucky Retirement Systems’ holdings in Masco were worth $1,317,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Versant Capital Management Inc boosted its holdings in Masco by 62.4% in the first quarter. Versant Capital Management Inc now owns 354 shares of the construction company’s stock valued at $28,000 after purchasing an additional 136 shares in the last quarter. Venturi Wealth Management LLC raised its position in Masco by 70.1% during the 1st quarter. Venturi Wealth Management LLC now owns 432 shares of the construction company’s stock worth $34,000 after buying an additional 178 shares during the last quarter. Union Savings Bank lifted its position in Masco by 91.7% in the fourth quarter. Union Savings Bank now owns 575 shares of the construction company’s stock valued at $39,000 after purchasing an additional 275 shares during the period. Larson Financial Group LLC lifted its holdings in shares of Masco by 4,545.5% in the 1st quarter. Larson Financial Group LLC now owns 511 shares of the construction company’s stock valued at $40,000 after buying an additional 500 shares during the period. Finally, Riverview Trust Co purchased a new stake in shares of Masco in the first quarter valued at approximately $43,000. 93.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MAS has been the subject of a number of research analyst reports. Citigroup dropped their target price on shares of Masco from $73.00 to $66.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Royal Bank of Canada increased their target price on Masco from $78.00 to $79.00 and gave the stock an “outperform” rating in a research report on Friday. Truist Financial boosted their target price on shares of Masco from $81.00 to $84.00 and gave the company a “buy” rating in a report on Friday. StockNews.com downgraded shares of Masco from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Finally, Loop Capital lowered their price objective on shares of Masco from $79.00 to $76.00 and set a “hold” rating for the company in a research note on Thursday, April 25th. Seven equities 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.57.

Masco Stock Up 2.1 %

NYSE:MAS traded up $1.61 during trading hours on Friday, hitting $77.45. The stock had a trading volume of 3,007,947 shares, compared to its average volume of 2,164,413. The business has a 50 day simple moving average of $68.78 and a two-hundred day simple moving average of $71.30. The company has a market cap of $17.06 billion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 2.33 and a beta of 1.24. Masco Co. has a 1-year low of $47.66 and a 1-year high of $78.94. The company has a current ratio of 1.76, a quick ratio of 1.09 and a debt-to-equity ratio of 16.18.

Masco (NYSE:MAS) last issued its quarterly earnings data on Thursday, July 25th. The construction company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.02. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.10 billion. Masco had a return on equity of 602.39% and a net margin of 11.59%. Masco’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.19 EPS. Analysts predict that Masco Co. will post 4.08 EPS for the current year.

Masco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 19th. Investors of record on Friday, August 2nd will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, August 2nd. This represents a $1.16 dividend on an annualized basis and a yield of 1.50%. Masco’s dividend payout ratio (DPR) is 28.43%.

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.