Desjardins Global Asset Management Inc. Raises Holdings in Masco Co. (NYSE:MAS)

Desjardins Global Asset Management Inc. grew its position in shares of Masco Co. (NYSE:MAS) by 122.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,935 shares of the construction company’s stock after purchasing an additional 1,067 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Masco were worth $130,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MAS. Vanguard Group Inc. grew its position in Masco by 1.2% in the third quarter. Vanguard Group Inc. now owns 25,787,414 shares of the construction company’s stock worth $1,378,337,000 after acquiring an additional 298,116 shares in the last quarter. Boston Partners grew its position in Masco by 4.2% in the third quarter. Boston Partners now owns 9,021,312 shares of the construction company’s stock worth $481,875,000 after acquiring an additional 359,562 shares in the last quarter. Moneta Group Investment Advisors LLC grew its position in Masco by 118,819.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,978,187 shares of the construction company’s stock worth $325,672,000 after acquiring an additional 6,972,319 shares in the last quarter. Van ECK Associates Corp grew its position in Masco by 15.4% in the third 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 in the last quarter. Finally, Northern Trust Corp grew its position in Masco by 3.8% in the third quarter. Northern Trust Corp now owns 3,934,986 shares of the construction company’s stock worth $210,325,000 after acquiring an additional 145,472 shares in the last quarter. Hedge funds and other institutional investors own 93.91% of the company’s stock.

Masco Stock Performance

Masco stock opened at $71.91 on Friday. The company has a 50 day moving average price of $75.39 and a 200-day moving average price of $66.23. The company has a debt-to-equity ratio of 30.05, a quick ratio of 1.08 and a current ratio of 1.68. Masco Co. has a fifty-two week low of $47.66 and a fifty-two week high of $78.94. The company has a market capitalization of $15.86 billion, a PE ratio of 17.93, a P/E/G ratio of 2.25 and a beta of 1.25.

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, beating the consensus estimate of $0.66 by $0.17. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.79 billion. Masco had a net margin of 11.40% and a return on equity of 3,111.50%. The company’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 earnings per share. As a group, equities analysts forecast that Masco Co. will post 4.11 earnings per share for the current year.

Masco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Thursday, February 22nd were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.61%. This is a positive change from Masco’s previous quarterly dividend of $0.29. The ex-dividend date was Wednesday, February 21st. Masco’s dividend payout ratio (DPR) is presently 28.93%.

Insider Activity at Masco

In related news, insider Jai Shah sold 42,552 shares of Masco stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $76.36, for a total transaction of $3,249,270.72. Following the transaction, the insider now directly owns 15,830 shares of the company’s stock, valued at $1,208,778.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Masco news, insider Jai Shah sold 42,552 shares of Masco stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $76.36, for a total value of $3,249,270.72. Following the transaction, the insider now directly owns 15,830 shares of the company’s stock, valued at $1,208,778.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Kenneth G. Cole sold 36,210 shares of Masco stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $74.65, for a total transaction of $2,703,076.50. Following the completion of the transaction, the vice president now directly owns 58,885 shares in the company, valued at $4,395,765.25. The disclosure for this sale can be found here. Insiders have sold a total of 83,762 shares of company stock valued at $6,337,597 over the last ninety days. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on MAS. Royal Bank of Canada lifted their price target on Masco from $73.00 to $79.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. StockNews.com downgraded shares of Masco from a “buy” rating to a “hold” rating in a research note on Wednesday, March 27th. Truist Financial raised their price objective on shares of Masco from $65.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Citigroup raised their price objective on shares of Masco from $74.00 to $79.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Finally, Oppenheimer assumed coverage on shares of Masco in a research note on Friday, January 19th. They issued a “market perform” rating for the company. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $69.62.

Masco 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.