Manning & Napier Group LLC Has $107.35 Million Holdings in Masco Co. (NYSE:MAS)

Manning & Napier Group LLC decreased its position in Masco Co. (NYSE:MAS) by 40.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 holdings, making the stock its 22nd biggest holding. Manning & Napier Group LLC’s holdings in Masco were worth $107,351,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of MAS. Vanguard Group Inc. increased its stake in Masco by 1.2% in the third quarter. Vanguard Group Inc. now owns 25,787,414 shares of the construction company’s stock valued at $1,378,337,000 after purchasing an additional 298,116 shares in the last quarter. Harris Associates L P increased its stake in Masco by 8.7% in the second quarter. Harris Associates L P now owns 9,728,394 shares of the construction company’s stock valued at $558,215,000 after purchasing an additional 781,049 shares in the last quarter. State Street Corp increased its stake in Masco by 3.1% in the second quarter. State Street Corp now owns 9,467,872 shares of the construction company’s stock valued at $543,266,000 after purchasing an additional 282,151 shares in the last quarter. Boston Partners increased its stake in Masco by 4.2% in the third quarter. Boston Partners now owns 9,021,312 shares of the construction company’s stock valued at $481,875,000 after purchasing an additional 359,562 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC increased its stake in Masco by 118,819.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,978,187 shares of the construction company’s stock valued at $325,672,000 after purchasing an additional 6,972,319 shares in the last quarter. Institutional investors and hedge funds own 93.91% of the company’s stock.

Analysts Set New Price Targets

MAS has been the subject of several recent research reports. Truist Financial boosted their target price on shares of Masco from $65.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Wells Fargo & Company boosted their target price on shares of Masco from $58.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 6th. Barclays boosted their target price on shares of Masco from $63.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 13th. JPMorgan Chase & Co. boosted their target price on shares of Masco from $58.00 to $69.00 and gave the stock a “neutral” rating in a research report on Thursday, December 14th. Finally, Oppenheimer initiated coverage on shares of Masco in a research report on Friday, January 19th. They set a “market perform” rating for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $68.92.

Masco Stock Performance

MAS traded up $1.03 during midday trading on Friday, reaching $78.88. The company had a trading volume of 1,709,362 shares, compared to its average volume of 2,532,933. The company has a debt-to-equity ratio of 30.05, a quick ratio of 1.08 and a current ratio of 1.68. The stock has a market cap of $17.33 billion, a PE ratio of 19.67, a P/E/G ratio of 2.19 and a beta of 1.25. Masco Co. has a 12-month low of $46.69 and a 12-month high of $78.94. The business has a 50-day moving average price of $73.34 and a two-hundred day moving average price of $63.92.

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

Masco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Thursday, February 22nd were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.47%. This is a boost from Masco’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Wednesday, February 21st. Masco’s payout ratio is presently 28.93%.

Insider Buying and Selling at Masco

In related news, VP Richard Allan Marshall sold 5,000 shares of the company’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 transaction of $385,250.00. Following 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 filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Kenneth G. Cole sold 36,210 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $74.65, for a total transaction of $2,703,076.50. Following the sale, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Richard Allan Marshall sold 5,000 shares of the company’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 transaction of $385,250.00. Following the sale, the vice president now owns 10,465 shares in the company, valued at $806,328.25. The disclosure for this sale can be found here. Insiders have sold a total of 83,762 shares of company stock worth $6,337,597 over the last three months. 1.50% of the stock is currently owned by insiders.

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.