Yacktman Asset Management LP Buys 109,564 Shares of Masco Co. (NYSE:MAS)

Yacktman Asset Management LP raised its stake in shares of Masco Co. (NYSE:MAS) by 30.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 475,183 shares of the construction company’s stock after acquiring an additional 109,564 shares during the period. Yacktman Asset Management LP’s holdings in Masco were worth $31,828,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MAS. Center for Financial Planning Inc. grew its position in Masco by 270.6% in the 3rd quarter. Center for Financial Planning Inc. now owns 667 shares of the construction company’s stock worth $36,000 after purchasing an additional 487 shares in the last quarter. Fortitude Family Office LLC bought a new position in Masco in the 4th quarter valued at $39,000. Bruce G. Allen Investments LLC bought a new stake in shares of Masco during the 4th quarter worth $44,000. VisionPoint Advisory Group LLC boosted its holdings in shares of Masco by 70.6% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,051 shares of the construction company’s stock worth $56,000 after buying an additional 435 shares during the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in Masco during the third quarter valued at about $66,000. Hedge funds and other institutional investors own 93.91% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Evercore ISI lowered their price objective on shares of Masco from $75.00 to $74.00 and set an “in-line” rating on the stock in a research report on Thursday. Citigroup increased their price objective on Masco from $74.00 to $79.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Loop Capital dropped their price target on Masco from $79.00 to $76.00 and set a “hold” rating on the stock in a research report on Thursday. StockNews.com raised Masco from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Truist Financial increased their target price on shares of Masco from $65.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $71.07.

Masco Price Performance

Masco stock traded up $0.14 during midday trading on Friday, hitting $70.01. 1,034,118 shares of the company’s stock were exchanged, compared to its average volume of 2,068,563. The company has a market cap of $15.44 billion, a P/E ratio of 17.13, a PEG ratio of 2.17 and a beta of 1.25. The company has a debt-to-equity ratio of 18.76, a quick ratio of 1.08 and a current ratio of 1.74. The stock has a 50-day moving average price of $75.23 and a two-hundred day moving average price of $66.76. Masco Co. has a 52-week low of $47.66 and a 52-week high of $78.94.

Masco (NYSE:MAS) last announced its earnings results on Wednesday, April 24th. The construction company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.06. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.94 billion. Masco had a net margin of 11.60% and a return on equity of 865.37%. Masco’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.87 earnings per share. On average, equities research analysts forecast that Masco Co. will post 4.11 earnings per share for the current year.

Masco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Thursday, February 22nd were given a dividend of $0.29 per share. This is an increase from Masco’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $1.16 dividend on an annualized basis and a yield of 1.66%. Masco’s dividend payout ratio (DPR) is presently 28.43%.

Insider Transactions at Masco

In related news, VP Kenneth G. Cole sold 36,210 shares of Masco stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $74.65, for a total value of $2,703,076.50. Following the transaction, the vice president now owns 58,885 shares in the company, valued at approximately $4,395,765.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Kenneth G. Cole sold 36,210 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $74.65, for a total value of $2,703,076.50. Following the sale, the vice president now owns 58,885 shares in the company, valued at approximately $4,395,765.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Richard Allan Marshall sold 5,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $77.05, for a total transaction of $385,250.00. Following the sale, the vice president now owns 10,465 shares of the company’s stock, valued at $806,328.25. The disclosure for this sale can be found here. In the last three months, insiders sold 83,762 shares of company stock worth $6,337,597. 1.10% of the stock is currently owned by corporate insiders.

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.