Mackenzie Financial Corp Sells 5,095 Shares of Masco Co. (NYSE:MAS)

Mackenzie Financial Corp lowered its stake in shares of Masco Co. (NYSE:MAS) by 21.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 18,117 shares of the construction company’s stock after selling 5,095 shares during the period. Mackenzie Financial Corp’s holdings in Masco were worth $1,213,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MAS. Fortitude Family Office LLC purchased a new position in shares of Masco in the fourth quarter worth about $39,000. Bruce G. Allen Investments LLC purchased a new position in shares of Masco in the fourth quarter worth about $44,000. Center for Financial Planning Inc. increased its stake in shares of Masco by 270.6% in the third quarter. Center for Financial Planning Inc. now owns 667 shares of the construction company’s stock worth $36,000 after purchasing an additional 487 shares in the last quarter. VisionPoint Advisory Group LLC increased its stake in shares of Masco by 70.6% in the third quarter. VisionPoint Advisory Group LLC now owns 1,051 shares of the construction company’s stock worth $56,000 after purchasing an additional 435 shares in the last quarter. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Masco in the third quarter worth about $66,000. Institutional investors own 93.91% of the company’s stock.

Masco Trading Down 4.5 %

Shares of Masco stock opened at $69.74 on Thursday. Masco Co. has a 1 year low of $47.66 and a 1 year high of $78.94. The firm has a market cap of $15.38 billion, a PE ratio of 17.39, a PEG ratio of 2.24 and a beta of 1.25. The company has a debt-to-equity ratio of 30.05, a current ratio of 1.68 and a quick ratio of 1.08. The company has a 50 day simple moving average of $75.31 and a two-hundred day simple moving average of $66.74.

Masco (NYSE:MAS) last announced its earnings results on Wednesday, April 24th. The construction company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.06. Masco had a net margin of 11.40% and a return on equity of 3,111.50%. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the business posted $0.87 earnings per share. Masco’s revenue for the quarter was down 2.7% on a year-over-year basis. Analysts expect that Masco Co. will post 4.11 earnings per share for the current fiscal year.

Masco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Thursday, February 22nd were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.66%. This is a positive change from Masco’s previous quarterly dividend of $0.29. The ex-dividend date was Wednesday, February 21st. Masco’s payout ratio is presently 28.93%.

Insider Transactions at Masco

In other news, VP Richard Allan Marshall sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were 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 directly owns 10,465 shares in the company, valued at approximately $806,328.25. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Jai Shah sold 42,552 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $76.36, for a total value of $3,249,270.72. Following the completion of the sale, the insider now directly owns 15,830 shares in the company, valued at approximately $1,208,778.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Richard Allan Marshall sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $77.05, for a total transaction of $385,250.00. Following the completion of the sale, the vice president now owns 10,465 shares of the company’s stock, valued at $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 currently owned by insiders.

Wall Street Analyst Weigh In

MAS has been the subject of several recent research reports. Royal Bank of Canada lifted their target price on shares of Masco from $73.00 to $79.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Truist Financial lifted their target price on shares of Masco from $65.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Citigroup raised their price objective on shares of Masco from $74.00 to $79.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. StockNews.com lowered shares of Masco from a “buy” rating to a “hold” rating in a research report on Wednesday, March 27th. Finally, Oppenheimer started coverage on shares of Masco in a research report on Friday, January 19th. They issued a “market perform” rating for the company. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $69.62.

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.