Masco Co. (NYSE:MAS) Shares Purchased by Rafferty Asset Management LLC

Rafferty Asset Management LLC increased its position in shares of Masco Co. (NYSE:MAS - Free Report) by 22.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 82,814 shares of the construction company's stock after buying an additional 15,103 shares during the period. Rafferty Asset Management LLC's holdings in Masco were worth $6,010,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new stake in shares of Masco during the 4th quarter worth about $27,000. Kestra Investment Management LLC purchased a new position in shares of Masco in the 4th quarter valued at about $30,000. Lee Danner & Bass Inc. acquired a new position in Masco in the 4th quarter worth about $42,000. GeoWealth Management LLC boosted its position in Masco by 89.0% during the fourth quarter. GeoWealth Management LLC now owns 684 shares of the construction company's stock worth $50,000 after purchasing an additional 322 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Masco by 26.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 703 shares of the construction company's stock valued at $51,000 after purchasing an additional 148 shares during the period. Institutional investors and hedge funds own 93.91% of the company's stock.

Insider Activity

In other Masco news, VP Renee Straber sold 3,139 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $71.78, for a total transaction of $225,317.42. Following the completion of the transaction, the vice president now owns 33,027 shares of the company's stock, valued at $2,370,678.06. This trade represents a 8.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Keith J. Allman sold 21,723 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The shares were 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 in the company, valued at $4,601,988.12. This trade represents a 26.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. The Goldman Sachs Group reduced their target price on Masco from $82.00 to $73.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Deutsche Bank Aktiengesellschaft began coverage on shares of Masco in a research report on Tuesday, April 1st. They set a "hold" rating and a $71.00 price objective for the company. Wells Fargo & Company boosted their target price on shares of Masco from $65.00 to $73.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 14th. Royal Bank of Canada decreased 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. Finally, Truist Financial lowered their price objective on Masco from $92.00 to $75.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Ten research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $73.63.

Masco Trading Down 4.4%

NYSE MAS traded down $2.92 on Wednesday, reaching $62.98. 2,381,912 shares of the company were exchanged, compared to its average volume of 1,796,546. The company has a current ratio of 1.75, a quick ratio of 1.15 and a debt-to-equity ratio of 20.74. The business's fifty day moving average price is $64.66 and its 200 day moving average price is $72.67. The stock has a market capitalization of $13.29 billion, a P/E ratio of 16.75, a price-to-earnings-growth ratio of 1.94 and a beta of 1.23. Masco Co. has a fifty-two week low of $56.55 and a fifty-two week high of $86.70.

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

Masco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.97%. Masco's dividend payout ratio is currently 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.