California Public Employees Retirement System Cuts Position in Masco Co. (NYSE:MAS)

California Public Employees Retirement System decreased its holdings in Masco Co. (NYSE:MAS) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 419,798 shares of the construction company’s stock after selling 9,006 shares during the quarter. California Public Employees Retirement System owned about 0.19% of Masco worth $28,118,000 as of its most recent filing with the SEC.

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

Masco Stock Performance

NYSE MAS opened at $69.85 on Friday. The firm has a market capitalization of $15.38 billion, a P/E ratio of 17.12, a P/E/G ratio of 2.17 and a beta of 1.25. Masco Co. has a 1-year low of $47.66 and a 1-year high of $78.94. The company has a debt-to-equity ratio of 18.76, a current ratio of 1.74 and a quick ratio of 1.08. The business’s 50-day simple moving average is $75.17 and its 200-day simple moving average is $66.98.

Masco (NYSE:MAS) last released its quarterly earnings data on Wednesday, April 24th. The construction company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.06. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.94 billion. Masco had a return on equity of 865.37% and a net margin of 11.60%. The company’s revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.87 EPS. Equities analysts predict that Masco Co. will post 4.12 EPS 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 given a dividend of $0.29 per share. The ex-dividend date was Wednesday, February 21st. This is a positive change from Masco’s previous quarterly dividend of $0.29. This represents a $1.16 annualized dividend and a yield of 1.66%. Masco’s payout ratio is 28.43%.

Insider Buying and Selling

In related news, VP Richard Allan Marshall sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $77.05, for a total transaction of $385,250.00. Following the transaction, the vice president now directly owns 10,465 shares of the company’s stock, valued at approximately $806,328.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Masco news, VP Kenneth G. Cole sold 36,210 shares of Masco stock in a transaction that occurred 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 sale, the vice president now directly 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 available through the SEC website. Also, VP Richard Allan Marshall sold 5,000 shares of Masco stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $77.05, for a total value of $385,250.00. Following the sale, the vice president now owns 10,465 shares in the company, valued at $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. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Loop Capital dropped their price objective on Masco from $79.00 to $76.00 and set a “hold” rating for the company in a research report on Thursday. Royal Bank of Canada lifted their price objective on Masco from $79.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday. Oppenheimer initiated coverage on Masco in a research report on Friday, January 19th. They set a “market perform” rating for the company. Truist Financial raised their price target on Masco from $65.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Finally, StockNews.com raised Masco from a “hold” rating to a “buy” rating in a research note on Thursday. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Masco presently has an average rating of “Moderate Buy” and a consensus target price of $72.15.

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.