Confluence Investment Management LLC Decreases Stake in Masco Co. (NYSE:MAS)

Confluence Investment Management LLC trimmed its position in shares of Masco Co. (NYSE:MAS - Free Report) by 2.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 894,013 shares of the construction company's stock after selling 27,161 shares during the quarter. Confluence Investment Management LLC owned approximately 0.42% of Masco worth $62,170,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Foster Victor Wealth Advisors LLC grew its stake in Masco by 6.6% during the fourth quarter. Foster Victor Wealth Advisors LLC now owns 219,120 shares of the construction company's stock worth $17,135,000 after purchasing an additional 13,568 shares during the period. Hillsdale Investment Management Inc. lifted its stake in Masco by 5,050.0% in the fourth quarter. Hillsdale Investment Management Inc. now owns 10,300 shares of the construction company's stock valued at $747,000 after buying an additional 10,100 shares during the period. Empower Advisory Group LLC lifted its stake in Masco by 2.0% in the fourth quarter. Empower Advisory Group LLC now owns 1,016,079 shares of the construction company's stock valued at $73,737,000 after buying an additional 20,129 shares during the period. Principal Securities Inc. lifted its stake in Masco by 20.5% in the fourth quarter. Principal Securities Inc. now owns 11,337 shares of the construction company's stock valued at $823,000 after buying an additional 1,931 shares during the period. Finally, Kovitz Investment Group Partners LLC lifted its stake in Masco by 2.1% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 21,497 shares of the construction company's stock valued at $1,560,000 after buying an additional 442 shares during the period. 93.91% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Renee Straber sold 3,139 shares of Masco stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $71.78, for a total value of $225,317.42. Following the completion of the sale, the vice president now owns 33,027 shares of the company's stock, valued at approximately $2,370,678.06. This trade represents a 8.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on MAS shares. Barclays set a $71.00 price target on Masco and gave the company an "overweight" rating in a research note on Thursday, April 24th. Jefferies Financial Group lowered their target price on Masco from $64.00 to $62.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Masco in a research report on Wednesday, May 28th. Truist Financial lowered their target price on Masco from $92.00 to $75.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Finally, Royal Bank of Canada lowered their target price on Masco from $74.00 to $62.00 and set a "sector perform" rating on the stock in a research report on Thursday, April 24th. Ten investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $73.63.

Masco Stock Performance

Shares of Masco stock traded down $1.73 during trading hours on Monday, hitting $60.69. 875,517 shares of the company's stock traded hands, compared to its average volume of 1,797,646. Masco Co. has a 12-month low of $56.55 and a 12-month high of $86.70. The stock has a market capitalization of $12.80 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 1.94 and a beta of 1.23. The company has a fifty day simple moving average of $63.39 and a 200-day simple moving average of $71.63. The company has a debt-to-equity ratio of 20.74, a current ratio of 1.75 and a quick ratio of 1.15.

Masco (NYSE:MAS - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The construction company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.05). Masco had a net margin of 10.50% and a return on equity of 838.32%. The business had revenue of $1.80 billion for the quarter, compared to analysts' expectations of $1.84 billion. During the same period in the prior year, the business earned $0.93 earnings per share. The company's revenue for the quarter was down 6.5% compared to the same quarter last year. Equities research analysts anticipate that Masco Co. will post 4.34 EPS for the current fiscal year.

Masco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Friday, May 23rd will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, May 23rd. Masco's dividend payout ratio is presently 33.88%.

About Masco

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.