Iowa State Bank Decreases Stake in Masco Co. (NYSE:MAS)

Iowa State Bank lowered its stake in shares of Masco Co. (NYSE:MAS - Free Report) by 19.6% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 40,827 shares of the construction company's stock after selling 9,924 shares during the period. Iowa State Bank's holdings in Masco were worth $2,839,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in MAS. Allworth Financial LP lifted its position in shares of Masco by 17.3% during the 4th quarter. Allworth Financial LP now owns 901 shares of the construction company's stock worth $71,000 after buying an additional 133 shares in the last quarter. Equitable Trust Co. lifted its position in shares of Masco by 1.7% during the 4th quarter. Equitable Trust Co. now owns 8,089 shares of the construction company's stock worth $587,000 after buying an additional 136 shares in the last quarter. Keybank National Association OH lifted its position in shares of Masco by 3.8% during the 4th quarter. Keybank National Association OH now owns 4,165 shares of the construction company's stock worth $302,000 after buying an additional 151 shares in the last quarter. VELA Investment Management LLC lifted its position in shares of Masco by 2.5% during the 4th quarter. VELA Investment Management LLC now owns 7,914 shares of the construction company's stock worth $574,000 after buying an additional 194 shares in the last quarter. Finally, Perigon Wealth Management LLC lifted its position in shares of Masco by 6.1% during the 4th quarter. Perigon Wealth Management LLC now owns 3,547 shares of the construction company's stock worth $275,000 after buying an additional 204 shares in the last quarter. Institutional investors and hedge funds own 93.91% of the company's stock.

Insider Activity

In related news, VP Renee Straber sold 3,139 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $71.78, for a total transaction of $225,317.42. Following the sale, the vice president now directly owns 33,027 shares of the company's stock, valued at approximately $2,370,678.06. This represents a 8.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.50% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Jefferies Financial Group lowered their price target on shares of Masco from $64.00 to $62.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Robert W. Baird lowered their price target on shares of Masco from $72.00 to $70.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Truist Financial lowered their price target on shares of Masco from $92.00 to $75.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Loop Capital set a $62.00 price target on shares of Masco and gave the stock a "hold" rating in a report on Thursday, April 24th. Finally, UBS Group reaffirmed a "buy" rating and issued a $80.00 price target (down previously from $91.00) on shares of Masco in a report on Thursday, April 24th. Ten investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $73.63.

Masco Trading Up 0.0%

Shares of NYSE:MAS traded up $0.01 during midday trading on Thursday, hitting $63.37. 814,513 shares of the stock traded hands, compared to its average volume of 1,798,210. The stock has a market capitalization of $13.37 billion, a PE ratio of 16.85, a P/E/G ratio of 1.94 and a beta of 1.23. Masco Co. has a one year low of $56.55 and a one year high of $86.70. The business's 50 day moving average is $62.94 and its two-hundred day moving average is $71.39. The company has a quick ratio of 1.15, a current ratio of 1.75 and a debt-to-equity ratio of 20.74.

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

Masco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Friday, May 23rd will be paid a dividend of $0.31 per share. The ex-dividend date is Friday, May 23rd. This represents a $1.24 dividend on an annualized basis and a yield of 1.96%. Masco's payout ratio is 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.