Manning & Napier Group LLC Decreases Position in Masco Co. (NYSE:MAS)

Manning & Napier Group LLC decreased its stake in Masco Co. (NYSE:MAS) by 40.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,602,738 shares of the construction company’s stock after selling 1,109,772 shares during the period. Masco makes up 1.3% of Manning & Napier Group LLC’s portfolio, making the stock its 22nd biggest position. Manning & Napier Group LLC owned 0.71% of Masco worth $107,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the stock. State of Alaska Department of Revenue boosted its position in shares of Masco by 9.0% in the fourth quarter. State of Alaska Department of Revenue now owns 65,076 shares of the construction company’s stock worth $4,358,000 after buying an additional 5,385 shares during the period. Ritholtz Wealth Management boosted its position in shares of Masco by 264.5% in the fourth quarter. Ritholtz Wealth Management now owns 18,219 shares of the construction company’s stock worth $1,220,000 after buying an additional 13,221 shares during the period. Schechter Investment Advisors LLC boosted its position in shares of Masco by 29.2% in the fourth quarter. Schechter Investment Advisors LLC now owns 7,141 shares of the construction company’s stock worth $478,000 after buying an additional 1,612 shares during the period. Vision Capital Management Inc. purchased a new position in Masco in the fourth quarter valued at about $222,000. Finally, Assenagon Asset Management S.A. acquired a new stake in Masco during the 4th quarter valued at approximately $2,606,000. Hedge funds and other institutional investors own 93.91% of the company’s stock.

Insider Activity

In related news, VP Kenneth G. Cole sold 36,210 shares of Masco stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $74.65, for a total value of $2,703,076.50. Following the transaction, the vice president now directly owns 58,885 shares in the company, valued at approximately $4,395,765.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Kenneth G. Cole sold 36,210 shares of Masco stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $74.65, for a total value of $2,703,076.50. Following the transaction, the vice president now directly owns 58,885 shares in the company, valued at approximately $4,395,765.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jai Shah sold 42,552 shares of Masco stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $76.36, for a total value of $3,249,270.72. Following the completion of the transaction, the insider now owns 15,830 shares in the company, valued at $1,208,778.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 83,762 shares of company stock worth $6,337,597. 1.50% of the stock is owned by company insiders.

Masco Stock Performance

Masco stock traded up $1.03 during mid-day trading on Friday, hitting $78.88. 1,709,362 shares of the company’s stock traded hands, compared to its average volume of 2,532,933. Masco Co. has a one year low of $46.69 and a one year high of $78.94. The company has a market cap of $17.33 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 2.19 and a beta of 1.25. The firm has a 50 day moving average price of $73.34 and a 200 day moving average price of $63.92. The company has a quick ratio of 1.08, a current ratio of 1.68 and a debt-to-equity ratio of 30.05.

Masco (NYSE:MAS) last issued its quarterly earnings results on Thursday, February 8th. The construction company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.17. Masco had a return on equity of 3,111.50% and a net margin of 11.40%. The company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same period last year, the firm earned $0.65 EPS. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. On average, equities analysts forecast that Masco Co. will post 4.12 EPS for the current year.

Masco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Thursday, February 22nd were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This is a boost from Masco’s previous quarterly dividend of $0.29. This represents a $1.16 annualized dividend and a dividend yield of 1.47%. Masco’s dividend payout ratio (DPR) is 28.93%.

Analysts Set New Price Targets

A number of research firms have commented on MAS. Wells Fargo & Company increased their target price on Masco from $58.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, December 6th. Barclays increased their target price on Masco from $63.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, December 13th. Truist Financial increased their target price on Masco from $65.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, February 9th. JPMorgan Chase & Co. raised their price target on Masco from $58.00 to $69.00 and gave the stock a “neutral” rating in a report on Thursday, December 14th. Finally, Royal Bank of Canada raised their price target on Masco from $73.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $68.92.

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.