Masco Co. (NYSE:MAS) Shares Acquired by Ledyard National Bank

Ledyard National Bank boosted its holdings in shares of Masco Co. (NYSE:MAS) by 28.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,147 shares of the construction company’s stock after purchasing an additional 5,855 shares during the quarter. Ledyard National Bank’s holdings in Masco were worth $2,195,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MAS. Vanguard Group Inc. boosted its stake in Masco by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 26,300,591 shares of the construction company’s stock valued at $2,074,591,000 after acquiring an additional 721,117 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Masco by 1.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 9,830,723 shares of the construction company’s stock valued at $655,414,000 after buying an additional 181,515 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Masco by 0.3% during the 2nd quarter. Van ECK Associates Corp now owns 2,924,621 shares of the construction company’s stock worth $194,985,000 after buying an additional 9,094 shares during the last quarter. Impax Asset Management Group plc increased its holdings in shares of Masco by 10.0% in the 2nd quarter. Impax Asset Management Group plc now owns 2,855,056 shares of the construction company’s stock valued at $190,347,000 after acquiring an additional 259,205 shares during the last quarter. Finally, Earnest Partners LLC raised its position in shares of Masco by 16.6% during the 1st quarter. Earnest Partners LLC now owns 2,245,644 shares of the construction company’s stock valued at $177,136,000 after acquiring an additional 319,029 shares in the last quarter. 93.91% of the stock is currently owned by hedge funds and other institutional investors.

Masco Trading Down 1.8 %

Masco stock opened at $84.19 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.76 and a debt-to-equity ratio of 16.18. Masco Co. has a 12 month low of $47.66 and a 12 month high of $86.70. The company’s fifty day simple moving average is $80.57 and its 200-day simple moving average is $74.07. The stock has a market cap of $18.54 billion, a P/E ratio of 20.63, a P/E/G ratio of 2.64 and a beta of 1.24.

Masco (NYSE:MAS) last announced its quarterly earnings results on Thursday, July 25th. The construction company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.02. Masco had a return on equity of 602.39% and a net margin of 11.59%. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same period in the previous year, the company earned $1.19 EPS. The firm’s revenue was down 1.7% on a year-over-year basis. As a group, sell-side analysts forecast that Masco Co. will post 4.11 EPS for the current fiscal year.

Masco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 2nd were issued a dividend of $0.29 per share. The ex-dividend date was Friday, August 2nd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.38%. Masco’s dividend payout ratio is currently 28.43%.

Insider Activity at Masco

In other Masco news, VP Kenneth G. Cole sold 37,814 shares of the stock in a transaction on 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 transaction, the vice president now directly owns 36,980 shares of the company’s stock, valued at $2,896,273.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have weighed in on MAS shares. 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 research note on Friday, July 26th. StockNews.com raised shares of Masco from a “hold” rating to a “buy” rating in a report on Monday. Citigroup dropped their price target on Masco from $73.00 to $66.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Royal Bank of Canada boosted their price objective on Masco from $78.00 to $79.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Wells Fargo & Company increased their target price on Masco from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $81.17.

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.