Allspring Global Investments Holdings LLC Raises Stake in Masco Co. (NYSE:MAS)

Allspring Global Investments Holdings LLC grew its holdings in shares of Masco Co. (NYSE:MAS) by 150.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 177,727 shares of the construction company’s stock after acquiring an additional 106,767 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.08% of Masco worth $11,904,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MAS. Vanguard Group Inc. raised its position in Masco by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 25,787,414 shares of the construction company’s stock worth $1,378,337,000 after purchasing an additional 298,116 shares during the period. Boston Partners lifted its stake in shares of Masco by 4.2% in the 3rd quarter. Boston Partners now owns 9,021,312 shares of the construction company’s stock valued at $481,875,000 after acquiring an additional 359,562 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in Masco by 118,819.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,978,187 shares of the construction company’s stock valued at $325,672,000 after acquiring an additional 6,972,319 shares during the period. Van ECK Associates Corp grew its position in Masco by 15.4% during the 3rd quarter. Van ECK Associates Corp now owns 5,320,936 shares of the construction company’s stock worth $284,404,000 after acquiring an additional 711,988 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Masco by 3.8% in the 3rd quarter. Northern Trust Corp now owns 3,934,986 shares of the construction company’s stock worth $210,325,000 after purchasing an additional 145,472 shares during the period. 93.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MAS has been the topic of several recent analyst reports. Royal Bank of Canada raised their target price on shares of Masco from $73.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Citigroup upped their price objective on shares of Masco from $74.00 to $79.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. StockNews.com cut Masco from a “buy” rating to a “hold” rating in a research note on Wednesday, March 27th. Oppenheimer started coverage on Masco in a report on Friday, January 19th. They issued a “market perform” rating for the company. Finally, Truist Financial boosted their target price on Masco from $65.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, February 9th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $69.62.

Insider Activity at Masco

In other news, VP Richard Allan Marshall sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $77.05, for a total value of $385,250.00. Following the transaction, the vice president now owns 10,465 shares in the company, valued at $806,328.25. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Masco news, VP Kenneth G. Cole sold 36,210 shares of the business’s stock in a transaction dated 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 completion of the transaction, the vice president now owns 58,885 shares of the company’s stock, valued at approximately $4,395,765.25. The sale was disclosed in a legal filing with the SEC, which is available 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 directly owns 10,465 shares in the company, valued at approximately $806,328.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 83,762 shares of company stock valued at $6,337,597. 1.50% of the stock is owned by insiders.

Masco Trading Down 0.7 %

Shares of NYSE MAS opened at $73.06 on Tuesday. The stock has a market cap of $16.12 billion, a P/E ratio of 18.22, a price-to-earnings-growth ratio of 2.29 and a beta of 1.25. The company has a debt-to-equity ratio of 30.05, a current ratio of 1.68 and a quick ratio of 1.08. Masco Co. has a 1 year low of $47.66 and a 1 year high of $78.94. The firm has a 50-day moving average of $75.32 and a 200 day moving average of $65.87.

Masco (NYSE:MAS) last posted its quarterly earnings results on Thursday, February 8th. The construction company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.17. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.79 billion. Masco had a return on equity of 3,111.50% and a net margin of 11.40%. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.65 EPS. As a group, sell-side analysts expect that Masco Co. will post 4.11 EPS for the current fiscal year.

Masco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Thursday, February 22nd were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.59%. This is an increase from Masco’s previous quarterly dividend of $0.29. The ex-dividend date was Wednesday, February 21st. Masco’s dividend payout ratio is 28.93%.

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.