Mackenzie Financial Corp Has $1.21 Million Stake in Masco Co. (NYSE:MAS)

Mackenzie Financial Corp trimmed its stake in shares of Masco Co. (NYSE:MAS) by 21.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 SEC filing.

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

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. StockNews.com downgraded shares of Masco from a “buy” rating to a “hold” rating in a research report on Wednesday, March 27th. Oppenheimer assumed coverage on shares of Masco in a research report on Friday, January 19th. They issued a “market perform” rating for the company. Truist Financial raised their target price on shares of Masco from $65.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Citigroup raised their target price 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. Finally, Royal Bank of Canada lifted their price objective on shares of Masco from $73.00 to $79.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $69.62.

Masco Stock Performance

NYSE MAS opened at $69.74 on Thursday. The firm has a 50-day moving average of $75.31 and a 200-day moving average of $66.74. 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 $15.38 billion, a PE ratio of 17.39, a P/E/G ratio of 2.24 and a beta of 1.25. Masco Co. has a 52-week low of $47.66 and a 52-week high of $78.94.

Masco (NYSE:MAS) last posted its earnings results on Wednesday, April 24th. The construction company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.06. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Masco had a net margin of 11.40% and a return on equity of 3,111.50%. Masco’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.87 EPS. On average, sell-side analysts anticipate that Masco Co. will post 4.11 EPS for the current year.

Masco Increases Dividend

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

Insiders Place Their Bets

In other Masco news, VP Richard Allan Marshall sold 5,000 shares of Masco stock in a transaction dated 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 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 available through the SEC website. 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 transaction, the insider now directly owns 15,830 shares in the company, valued at approximately $1,208,778.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $385,250.00. Following the completion of the transaction, 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. Insiders sold 83,762 shares of company stock worth $6,337,597 in the last quarter. 1.10% of the stock is currently 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.