Bank of Nova Scotia Increases Stock Holdings in Masco Co. (NYSE:MAS)

Bank of Nova Scotia increased its holdings in Masco Co. (NYSE:MASGet Rating) by 11.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,388 shares of the construction company’s stock after purchasing an additional 3,532 shares during the period. Bank of Nova Scotia’s holdings in Masco were worth $1,690,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in MAS. Van ECK Associates Corp grew its position in Masco by 97.5% during the second quarter. Van ECK Associates Corp now owns 3,418,052 shares of the construction company’s stock valued at $172,953,000 after acquiring an additional 1,687,476 shares during the period. AustralianSuper Pty Ltd grew its position in Masco by 18.3% during the second quarter. AustralianSuper Pty Ltd now owns 4,870,464 shares of the construction company’s stock valued at $246,445,000 after acquiring an additional 751,825 shares during the period. Renaissance Technologies LLC grew its position in Masco by 3,316.8% during the first quarter. Renaissance Technologies LLC now owns 710,700 shares of the construction company’s stock valued at $36,246,000 after acquiring an additional 689,900 shares during the period. Massachusetts Financial Services Co. MA grew its position in Masco by 3.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 21,917,680 shares of the construction company’s stock valued at $1,117,802,000 after acquiring an additional 688,373 shares during the period. Finally, Boston Partners grew its position in Masco by 17.7% during the first quarter. Boston Partners now owns 3,812,504 shares of the construction company’s stock valued at $194,433,000 after acquiring an additional 573,854 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

MAS has been the subject of a number of research reports. StockNews.com downgraded Masco from a “buy” rating to a “hold” rating in a research report on Friday, October 28th. Royal Bank of Canada downgraded Masco from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $57.00 to $47.00 in a research report on Thursday, October 27th. Barclays decreased their target price on Masco from $66.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday, October 27th. Credit Suisse Group decreased their target price on Masco to $40.00 in a research report on Thursday, October 20th. Finally, The Goldman Sachs Group decreased their target price on Masco from $64.00 to $57.00 and set a “buy” rating for the company in a research report on Thursday, October 27th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $57.86.

Insider Buying and Selling

In other Masco news, Director Reginald M. Turner, Jr. sold 1,100 shares of the company’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $46.81, for a total transaction of $51,491.00. Following the sale, the director now owns 28,766 shares in the company, valued at $1,346,536.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Masco news, CEO Keith J. Allman sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, October 14th. The stock was sold at an average price of $48.79, for a total transaction of $487,900.00. Following the sale, the chief executive officer now owns 278,295 shares in the company, valued at $13,578,013.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Reginald M. Turner, Jr. sold 1,100 shares of the company’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $46.81, for a total value of $51,491.00. Following the sale, the director now owns 28,766 shares in the company, valued at approximately $1,346,536.46. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Masco Stock Performance

NYSE:MAS opened at $49.07 on Friday. Masco Co. has a one year low of $42.33 and a one year high of $71.06. The business’s 50-day simple moving average is $47.81 and its 200 day simple moving average is $51.42. The stock has a market cap of $11.07 billion, a price-to-earnings ratio of 13.33, a price-to-earnings-growth ratio of 1.99 and a beta of 1.16.

Masco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 28th. Investors of record on Thursday, November 10th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Wednesday, November 9th. Masco’s dividend payout ratio (DPR) is 30.43%.

Masco Company Profile

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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.

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Institutional Ownership by Quarter for Masco (NYSE:MAS)

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