Mechanics Financial Corp Reduces Holdings in Masco Co. (NYSE:MAS)

Mechanics Financial Corp lowered its stake in Masco Co. (NYSE:MAS) by 39.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 518 shares of the construction company’s stock after selling 335 shares during the period. Mechanics Financial Corp’s holdings in Masco were worth $35,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Jackson Creek Investment Advisors LLC purchased a new stake in shares of Masco in the fourth quarter valued at $627,000. Nisa Investment Advisors LLC lifted its holdings in Masco by 35.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 59,792 shares of the construction company’s stock valued at $4,005,000 after purchasing an additional 15,591 shares in the last quarter. New York State Teachers Retirement System boosted its stake in shares of Masco by 8.6% during the 4th quarter. New York State Teachers Retirement System now owns 229,507 shares of the construction company’s stock worth $15,372,000 after purchasing an additional 18,140 shares during the last quarter. Ritholtz Wealth Management grew its holdings in shares of Masco by 264.5% during 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 in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Masco by 6.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 344,141 shares of the construction company’s stock valued at $23,051,000 after buying an additional 21,165 shares during the last quarter. Institutional investors and hedge funds own 93.91% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on MAS. Truist Financial raised 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. Citigroup lifted their price objective on Masco from $74.00 to $79.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Loop Capital reduced their target price on Masco from $79.00 to $76.00 and set a “hold” rating on the stock in a research report on Thursday, April 25th. Oppenheimer initiated coverage on Masco in a research note on Friday, January 19th. They issued a “market perform” rating on the stock. Finally, StockNews.com raised shares of Masco from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $72.15.

Masco Trading Up 0.4 %

MAS stock traded up $0.25 during midday trading on Thursday, reaching $68.83. 432,182 shares of the company’s stock traded hands, compared to its average volume of 2,056,677. The company has a debt-to-equity ratio of 18.76, a current ratio of 1.74 and a quick ratio of 1.09. Masco Co. has a fifty-two week low of $47.66 and a fifty-two week high of $78.94. The business has a 50-day moving average price of $74.89 and a two-hundred day moving average price of $67.34. The company has a market capitalization of $15.16 billion, a P/E ratio of 16.81, a PEG ratio of 1.79 and a beta of 1.28.

Masco (NYSE:MAS) last posted its earnings results on Wednesday, April 24th. The construction company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.06. Masco had a net margin of 11.60% and a return on equity of 865.37%. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the business posted $0.87 EPS. The business’s quarterly revenue was down 2.7% on a year-over-year basis. Equities research analysts forecast that Masco Co. will post 4.12 EPS for the current fiscal year.

Masco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Thursday, February 22nd were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date was Wednesday, February 21st. This is a boost from Masco’s previous quarterly dividend of $0.29. Masco’s dividend payout ratio is currently 28.43%.

Insider Buying and Selling at Masco

In other Masco news, VP Richard Allan Marshall sold 5,000 shares of the business’s stock in a transaction 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 transaction, the vice president now owns 10,465 shares in the company, valued at approximately $806,328.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Kenneth G. Cole sold 36,210 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $74.65, for a total transaction of $2,703,076.50. Following the completion of the transaction, the vice president now directly owns 58,885 shares in the company, valued at approximately $4,395,765.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Richard Allan Marshall sold 5,000 shares of Masco stock in a transaction 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 approximately $806,328.25. The disclosure for this sale can be found here. Insiders sold 83,762 shares of company stock valued at $6,337,597 over the last 90 days. 1.10% of the stock is owned by corporate insiders.

Masco Company 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.