State of New Jersey Common Pension Fund D Lowers Stock Position in Masco Co. (NYSE:MAS)

State of New Jersey Common Pension Fund D cut its holdings in shares of Masco Co. (NYSE:MAS) by 5.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 112,465 shares of the construction company’s stock after selling 6,972 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.05% of Masco worth $7,533,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Center for Financial Planning Inc. raised its stake in shares of Masco by 270.6% during the third quarter. Center for Financial Planning Inc. now owns 667 shares of the construction company’s stock worth $36,000 after acquiring an additional 487 shares in the last quarter. Fortitude Family Office LLC bought a new position in shares of Masco in the fourth quarter worth approximately $39,000. Bruce G. Allen Investments LLC bought a new stake in Masco in the fourth quarter valued at $44,000. VisionPoint Advisory Group LLC boosted its holdings in Masco by 70.6% in the third quarter. VisionPoint Advisory Group LLC now owns 1,051 shares of the construction company’s stock valued at $56,000 after acquiring an additional 435 shares in the last quarter. Finally, Exchange Traded Concepts LLC bought a new stake in Masco in the third quarter valued at $66,000. 93.91% of the stock is owned by hedge funds and other institutional investors.

Masco Stock Performance

Shares of Masco stock traded down $0.02 during trading hours on Friday, reaching $69.85. 1,921,758 shares of the stock traded hands, compared to its average volume of 2,080,258. The company has a 50 day moving average price of $75.17 and a 200 day moving average price of $66.88. The firm has a market capitalization of $15.41 billion, a price-to-earnings ratio of 17.12, a P/E/G ratio of 2.17 and a beta of 1.25. Masco Co. has a one year low of $47.66 and a one year high of $78.94. The company has a quick ratio of 1.08, a current ratio of 1.74 and a debt-to-equity ratio of 18.76.

Masco (NYSE:MAS) last released its quarterly earnings results on Wednesday, April 24th. The construction company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.06. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.94 billion. Masco had a return on equity of 865.37% and a net margin of 11.60%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.87 EPS. On average, equities research analysts expect that Masco Co. will post 4.11 earnings per share for the current fiscal year.

Masco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Thursday, February 22nd were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This is an increase from Masco’s previous quarterly dividend of $0.29. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.66%. Masco’s payout ratio is 28.43%.

Insider Activity at Masco

In other news, insider Jai Shah sold 42,552 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $76.36, for a total transaction of $3,249,270.72. Following the sale, the insider now directly owns 15,830 shares of the company’s stock, valued at approximately $1,208,778.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Masco news, insider Jai Shah sold 42,552 shares of the 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 sale, the insider now owns 15,830 shares in the company, valued at $1,208,778.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Richard Allan Marshall sold 5,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $77.05, for a total value of $385,250.00. Following the completion of the sale, the vice president now owns 10,465 shares in the company, valued at approximately $806,328.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,762 shares of company stock worth $6,337,597. 1.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MAS. StockNews.com upgraded shares of Masco from a “hold” rating to a “buy” rating in a report on Thursday. Loop Capital dropped their target price on shares of Masco from $79.00 to $76.00 and set a “hold” rating on the stock in a report on Thursday. Oppenheimer began coverage on shares of Masco in a report on Friday, January 19th. They set a “market perform” rating on the stock. Truist Financial boosted their target price on shares of Masco from $65.00 to $81.00 and gave the company a “buy” rating in a report on Friday, February 9th. Finally, Royal Bank of Canada boosted their target price on shares of Masco from $79.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.07.

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.