Handelsbanken Fonder AB Has $7.27 Million Stock Position in Masco Co. (NYSE:MAS)

Handelsbanken Fonder AB lowered its stake in Masco Co. (NYSE:MAS) by 10.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 108,515 shares of the construction company’s stock after selling 13,114 shares during the period. Handelsbanken Fonder AB’s holdings in Masco were worth $7,268,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Janney Montgomery Scott LLC increased its position in shares of Masco by 1.6% in the third quarter. Janney Montgomery Scott LLC now owns 11,646 shares of the construction company’s stock valued at $623,000 after acquiring an additional 178 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of Masco by 2.8% in the third quarter. B. Riley Wealth Advisors Inc. now owns 6,619 shares of the construction company’s stock valued at $354,000 after acquiring an additional 180 shares during the last quarter. Lindbrook Capital LLC increased its position in shares of Masco by 19.5% in the fourth quarter. Lindbrook Capital LLC now owns 1,115 shares of the construction company’s stock valued at $75,000 after acquiring an additional 182 shares during the last quarter. Donald L. Hagan LLC increased its position in Masco by 0.9% during the fourth quarter. Donald L. Hagan LLC now owns 21,108 shares of the construction company’s stock worth $1,414,000 after buying an additional 186 shares during the last quarter. Finally, First Hawaiian Bank increased its position in Masco by 1.3% during the fourth quarter. First Hawaiian Bank now owns 15,167 shares of the construction company’s stock worth $1,016,000 after buying an additional 195 shares during the last quarter. Institutional investors and hedge funds own 93.91% of the company’s stock.

Masco Trading Down 4.5 %

Shares of NYSE:MAS opened at $69.74 on Thursday. Masco Co. has a 12-month low of $47.66 and a 12-month high of $78.94. The stock has a market cap of $15.38 billion, a PE ratio of 17.39, a P/E/G ratio of 2.27 and a beta of 1.25. The business has a 50 day moving average of $75.31 and a 200-day moving average of $66.74. The company has a quick ratio of 1.08, a current ratio of 1.68 and a debt-to-equity ratio of 30.05.

Masco (NYSE:MAS) last issued its quarterly 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 analysts’ expectations of $1.94 billion. Masco had a return on equity of 3,111.50% and a net margin of 11.40%. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.87 earnings per share. As a group, equities research analysts forecast that Masco Co. will post 4.11 earnings per share for the current year.

Masco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Thursday, February 22nd were paid a $0.29 dividend. This is a boost from Masco’s previous quarterly dividend of $0.29. This represents a $1.16 annualized dividend and a dividend yield of 1.66%. The ex-dividend date was Wednesday, February 21st. Masco’s payout ratio is 28.93%.

Insider Activity at Masco

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

Analysts Set New Price Targets

MAS has been the topic of a number of recent analyst reports. StockNews.com downgraded Masco from a “buy” rating to a “hold” rating in a research report on Wednesday, March 27th. Royal Bank of Canada boosted 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. Truist Financial boosted their price target on Masco from $65.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Oppenheimer initiated coverage on Masco in a research report on Friday, January 19th. They set a “market perform” rating on the stock. Finally, Citigroup boosted their price target on Masco from $74.00 to $79.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $69.62.

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.