Beutel Goodman & Co Ltd. reduced its position in shares of Masco Corporation (NYSE:MAS – Free Report) by 7.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,426,878 shares of the construction company’s stock after selling 285,006 shares during the period. Masco comprises approximately 1.8% of Beutel Goodman & Co Ltd.’s holdings, making the stock its 23rd largest holding. Beutel Goodman & Co Ltd.’s holdings in Masco were worth $230,971,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in MAS. Latitude Advisors LLC acquired a new position in Masco in the third quarter worth $30,000. Bell Investment Advisors Inc bought a new stake in Masco during the second quarter valued at $32,000. Pension & Wealth Management Advisors Inc. bought a new stake in Masco during the third quarter valued at $36,000. Johnson Financial Group Inc. acquired a new stake in shares of Masco during the second quarter worth $49,000. Finally, Trust Co. of Vermont acquired a new stake in shares of Masco during the second quarter worth $53,000. 93.91% of the stock is currently owned by institutional investors.
Insider Activity at Masco
In other Masco news, VP Kenneth Cole sold 34,470 shares of the firm’s stock in a transaction that occurred 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 owned 39,700 shares in the company, valued at approximately $3,201,408. This trade represents a 46.47% 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 link. Corporate insiders own 0.55% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on the stock. Royal Bank Of Canada raised their price target on shares of Masco from $69.00 to $74.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 29th. Evercore downgraded shares of Masco from an “outperform” rating to an “in-line” rating and set a $78.00 price objective for the company. in a research report on Thursday, July 30th. Zacks Research lowered shares of Masco from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 14th. Barclays increased their price objective on shares of Masco from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 29th. Finally, Weiss Ratings raised shares of Masco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 16th. Seven investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $81.82.
Get Our Latest Research Report on Masco
Masco Trading Up 4.4%
NYSE:MAS opened at $85.87 on Tuesday. The firm has a market capitalization of $16.55 billion, a P/E ratio of 18.59, a P/E/G ratio of 1.92 and a beta of 1.21. The business has a 50 day simple moving average of $72.56 and a 200 day simple moving average of $71.30. The company has a debt-to-equity ratio of 109.07, a current ratio of 1.83 and a quick ratio of 1.20. Masco Corporation has a 12-month low of $58.16 and a 12-month high of $87.86.
Masco (NYSE:MAS – Get Free Report) last issued its earnings results on Wednesday, October 28th. The construction company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.17. The firm had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.93 billion. Masco had a negative return on equity of 1,807.69% and a net margin of 12.07%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period last year, the company earned $0.97 earnings per share. Equities research analysts predict that Masco Corporation will post 4.72 EPS for the current year.
Masco Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Friday, November 6th will be given a dividend of $0.32 per share. The ex-dividend date is Friday, November 6th. This represents a $1.28 annualized dividend and a dividend yield of 1.5%. Masco’s dividend payout ratio is currently 27.71%.
Masco 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.
Founded in 1929 by Alex Manoogian as Masco Screw Products Company, the business grew from a small manufacturing operation into a diversified home-products company.
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