Voloridge Investment Management LLC Lowers Stock Position in Masco Co. (NYSE:MAS)

Voloridge Investment Management LLC reduced its stake in Masco Co. (NYSE:MAS - Free Report) by 97.9% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,938 shares of the construction company's stock after selling 232,456 shares during the quarter. Voloridge Investment Management LLC's holdings in Masco were worth $358,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Masco during the 4th quarter valued at approximately $129,306,000. Raymond James Financial Inc. purchased a new position in Masco in the fourth quarter valued at approximately $33,157,000. Freestone Grove Partners LP purchased a new position in Masco in the fourth quarter valued at approximately $30,678,000. Invesco Ltd. grew its holdings in Masco by 14.7% during the fourth quarter. Invesco Ltd. now owns 2,821,629 shares of the construction company's stock valued at $204,766,000 after purchasing an additional 360,931 shares during the period. Finally, Northern Trust Corp increased its position in Masco by 9.5% in the fourth quarter. Northern Trust Corp now owns 3,900,643 shares of the construction company's stock worth $283,070,000 after buying an additional 337,164 shares during the last quarter. Institutional investors own 93.91% of the company's stock.

Masco Price Performance

Masco stock traded down $1.09 during midday trading on Friday, hitting $62.36. 3,116,241 shares of the company's stock were exchanged, compared to its average volume of 1,801,160. The company has a market cap of $13.15 billion, a P/E ratio of 16.59, a PEG ratio of 1.94 and a beta of 1.23. The company has a debt-to-equity ratio of 20.74, a quick ratio of 1.15 and a current ratio of 1.75. The stock has a 50-day moving average price of $63.39 and a two-hundred day moving average price of $71.73. Masco Co. has a 52-week low of $56.55 and a 52-week high of $86.70.

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

Masco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Friday, May 23rd will be given a $0.31 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.24 annualized dividend and a yield of 1.99%. Masco's dividend payout ratio (DPR) is presently 33.88%.

Insider Buying and Selling

In related news, VP Renee Straber sold 3,139 shares of the business's stock in a transaction that occurred on 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 in the company, valued at $2,370,678.06. The trade was a 8.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MAS. Robert W. Baird dropped their price target on Masco from $72.00 to $70.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. UBS Group restated a "buy" rating and issued a $80.00 price objective (down from $91.00) on shares of Masco in a research note on Thursday, April 24th. Barclays set a $71.00 target price on shares of Masco and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Truist Financial reduced their target price on shares of Masco from $92.00 to $75.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, Royal Bank of Canada dropped their price target on shares of Masco from $74.00 to $62.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 24th. Ten investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Masco currently has an average rating of "Hold" and a consensus price target of $73.63.

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.