Masco Corporation $MAS Stock Holdings Decreased by Beutel Goodman & Co Ltd.

Key Points

• Beutel Goodman cut its Masco stake by 7.7%, selling 285,006 shares and ending the quarter with 3.43 million shares worth about $231 million. Institutional investors and hedge funds owned 93.91% of the stock.
• Masco beat quarterly earnings expectations, reporting EPS of $1.19 versus the $1.02 consensus and revenue of $1.97 billion, up 2.6% year over year.
• Analysts had a consensus “Hold” rating and an average price target of $81.82. Masco also announced a quarterly dividend of $0.32 per share, equivalent to a 1.5% annual yield.

Beutel Goodman & Co Ltd. reduced its holdings in shares of Masco Corporation (NYSE:MAS - Free Report) by 7.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,426,878 shares of the construction company's stock after selling 285,006 shares during the quarter. Masco makes up 1.8% of Beutel Goodman & Co Ltd.'s investment portfolio, making the stock its 23rd largest position. Beutel Goodman & Co Ltd. owned approximately 1.78% of Masco worth $230,971,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in MAS. BlackRock Inc. acquired a new position in Masco in the 2nd quarter valued at about $1,278,943,000. Bank of America Corp DE purchased a new position in Masco in the second quarter valued at approximately $178,424,000. Bank of New York Mellon Corp purchased a new stake in Masco during the second quarter worth approximately $156,668,000. Deutsche Bank AG purchased a new stake in Masco during the second quarter worth approximately $149,673,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in Masco by 828.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,071,592 shares of the construction company's stock worth $64,692,000 after buying an additional 956,204 shares during the period. 93.91% of the stock is owned by institutional investors and hedge funds.

Masco Stock Performance

Shares of MAS opened at $85.87 on Tuesday. The firm has a market cap of $16.55 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 1.92 and a beta of 1.21. The company has a quick ratio of 1.20, a current ratio of 1.83 and a debt-to-equity ratio of 109.07. The business's 50 day moving average is $72.56 and its two-hundred day moving average is $71.30. Masco Corporation has a 52-week low of $58.16 and a 52-week high of $87.86.

Masco (NYSE:MAS - Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The construction company reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.02 by $0.17. The business had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.93 billion. Masco had a net margin of 12.07% and a negative return on equity of 1,807.69%. The business's revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.97 earnings per share. Analysts forecast that Masco Corporation will post 4.72 EPS for the current fiscal year.

Masco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Friday, November 6th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, November 6th. Masco's dividend payout ratio (DPR) is currently 27.71%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MAS shares. Citigroup reduced their target price on shares of Masco from $79.00 to $77.00 and set a "neutral" rating on the stock in a report on Friday, July 31st. Truist Financial raised their price target on shares of Masco from $85.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, October 29th. Wells Fargo & Company lifted their price target on shares of Masco from $82.00 to $85.00 and gave the stock an "overweight" rating in a research note on Thursday, October 29th. Zacks Research downgraded shares of Masco from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 14th. Finally, Evercore cut shares of Masco from an "outperform" rating to an "in-line" rating and set a $78.00 price objective for the company. in a research report on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Masco currently has a consensus rating of "Hold" and a consensus target price of $81.82.

Insiders Place Their Bets

In other news, VP Kenneth Cole sold 34,470 shares of the business's stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $80.64, for a total value of $2,779,660.80. Following the completion of the sale, the vice president owned 39,700 shares of the company's stock, valued at approximately $3,201,408. The trade was a 46.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.55% of the stock is currently owned by corporate insiders.

About Masco

Masco Corporation is a manufacturer of home improvement and building products, serving residential construction, repair and remodeling markets. Its products are sold primarily in North America and Europe, as well as in other markets around the world.

The company's Plumbing Products include faucets, showering and bathing products, and related fixtures and accessories. Its brands include Delta Faucet, Brizo, Peerless and hansgrohe. Masco also makes decorative architectural products, including paints and coatings sold under the BEHR and KILZ brands.

Founded in 1929 by Alex Manoogian as Masco Screw Products Company, the business grew from a small manufacturing operation into a diversified home-products company.

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