Millennium Management LLC Raises Stock Holdings in Masco Co. (NYSE:MAS)

Millennium Management LLC lifted its stake in shares of Masco Co. (NYSE:MAS - Free Report) by 94.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 555,165 shares of the construction company's stock after buying an additional 268,950 shares during the period. Millennium Management LLC owned about 0.26% of Masco worth $40,288,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of MAS. Norges Bank bought a new stake in shares of Masco in the fourth quarter worth $129,306,000. Raymond James Financial Inc. bought a new stake in Masco during the fourth quarter valued at $33,157,000. Freestone Grove Partners LP bought a new stake in Masco during the fourth quarter valued at $30,678,000. Invesco Ltd. boosted its position 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 acquiring an additional 360,931 shares during the last quarter. Finally, KBC Group NV boosted its position in Masco by 91.6% during the fourth quarter. KBC Group NV now owns 708,830 shares of the construction company's stock valued at $51,440,000 after acquiring an additional 338,925 shares during the last quarter. Institutional investors own 93.91% of the company's stock.

Masco Stock Down 1.4%

Shares of Masco stock traded down $0.90 on Friday, hitting $61.79. The company had a trading volume of 1,678,106 shares, compared to its average volume of 1,799,172. The stock has a market capitalization of $13.03 billion, a price-to-earnings ratio of 16.43, a P/E/G ratio of 1.94 and a beta of 1.23. Masco Co. has a 1 year low of $56.55 and a 1 year high of $86.70. The stock has a 50 day moving average of $64.17 and a 200-day moving average of $72.34. The company has a debt-to-equity ratio of 20.74, a quick ratio of 1.15 and a current ratio of 1.75.

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). The company had revenue of $1.80 billion during the quarter, compared to analysts' expectations of $1.84 billion. Masco had a return on equity of 838.32% and a net margin of 10.50%. The business's revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period last year, the company earned $0.93 earnings per share. As a group, sell-side analysts forecast that Masco Co. will post 4.34 earnings per share for the current year.

Masco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Friday, May 23rd will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Friday, May 23rd. Masco's dividend payout ratio (DPR) is presently 33.88%.

Analyst Ratings Changes

A number of analysts have commented on the stock. UBS Group reaffirmed a "buy" rating and set a $80.00 price target (down previously from $91.00) on shares of Masco in a research report on Thursday, April 24th. The Goldman Sachs Group cut their price target on shares of Masco from $82.00 to $73.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Truist Financial cut their price target on shares of Masco from $92.00 to $75.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Jefferies Financial Group cut their price objective on shares of Masco from $64.00 to $62.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Finally, Robert W. Baird cut their price objective on shares of Masco from $72.00 to $70.00 and set an "outperform" 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 stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $73.63.

Insider Transactions at Masco

In related news, CEO Keith J. Allman sold 21,723 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $76.36, for a total transaction of $1,658,768.28. Following the completion of the sale, the chief executive officer now directly owns 60,267 shares of the company's stock, valued at approximately $4,601,988.12. This trade represents a 26.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Renee Straber sold 3,139 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $71.78, for a total value of $225,317.42. Following the sale, the vice president now directly owns 33,027 shares of the company's stock, valued at $2,370,678.06. The trade was a 8.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.50% of the company's stock.

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.