Marble Harbor Investment Counsel LLC Buys New Stake in Masco Co. (NYSE:MAS)

Marble Harbor Investment Counsel LLC acquired a new position in Masco Co. (NYSE:MAS) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,035 shares of the construction company’s stock, valued at approximately $511,000.

A number of other large investors have also modified their holdings of MAS. State Street Corp boosted its position in Masco by 1.9% during the third quarter. State Street Corp now owns 10,294,294 shares of the construction company’s stock worth $864,103,000 after purchasing an additional 194,297 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Masco by 10.2% during the 4th quarter. Van ECK Associates Corp now owns 3,250,400 shares of the construction company’s stock worth $235,881,000 after buying an additional 299,520 shares during the period. Nordea Investment Management AB lifted its position in shares of Masco by 21.0% during the 4th quarter. Nordea Investment Management AB now owns 2,997,839 shares of the construction company’s stock valued at $218,063,000 after buying an additional 520,555 shares in the last quarter. Empower Advisory Group LLC grew its stake in Masco by 2.0% in the 4th quarter. Empower Advisory Group LLC now owns 1,016,079 shares of the construction company’s stock valued at $73,737,000 after acquiring an additional 20,129 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in Masco by 8.6% in the 3rd quarter. Victory Capital Management Inc. now owns 922,566 shares of the construction company’s stock worth $77,440,000 after acquiring an additional 73,405 shares in the last quarter. Institutional investors and hedge funds own 93.91% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Keith J. Allman sold 21,723 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $76.36, for a total transaction of $1,658,768.28. Following the completion of the sale, the chief executive officer now directly owns 60,267 shares of the company’s stock, valued at approximately $4,601,988.12. This trade represents a 26.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by insiders.

Analyst Ratings Changes

MAS has been the topic of several research analyst reports. Oppenheimer upgraded shares of Masco from a “market perform” rating to an “outperform” rating and set a $89.00 target price on the stock in a research report on Friday, January 10th. Wells Fargo & Company lowered their price objective on Masco from $85.00 to $82.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Jefferies Financial Group lowered Masco from a “buy” rating to a “hold” rating and cut their price objective for the stock from $96.00 to $89.00 in a research note on Monday, December 16th. Barclays boosted their price objective on Masco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $74.00 price objective on shares of Masco in a research note on Wednesday, February 12th. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $86.32.

Masco Price Performance

Masco stock opened at $75.25 on Friday. Masco Co. has a 12-month low of $63.81 and a 12-month high of $86.70. The stock has a market cap of $15.95 billion, a P/E ratio of 20.01, a PEG ratio of 1.94 and a beta of 1.24. The company has a 50-day moving average price of $76.11 and a 200 day moving average price of $78.75. The company has a current ratio of 1.75, a quick ratio of 1.15 and a debt-to-equity ratio of 20.74.

Masco (NYSE:MAS) last announced its quarterly earnings results on Tuesday, February 11th. The construction company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Masco had a net margin of 10.50% and a return on equity of 838.32%. During the same quarter in the prior year, the company posted $0.83 earnings per share. Sell-side analysts anticipate that Masco Co. will post 4.34 earnings per share for the current year.

Masco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.31 per share. This is a boost from Masco’s previous quarterly dividend of $0.29. The ex-dividend date is Friday, February 21st. This represents a $1.24 annualized dividend and a yield of 1.65%. Masco’s dividend payout ratio (DPR) is 32.98%.

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.