First Horizon Advisors Inc. Sells 2,065 Shares of Masco Co. (NYSE:MAS)

First Horizon Advisors Inc. trimmed its stake in Masco Co. (NYSE:MAS) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 125,324 shares of the construction company’s stock after selling 2,065 shares during the quarter. First Horizon Advisors Inc. owned approximately 0.06% of Masco worth $8,394,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Van ECK Associates Corp boosted its stake in shares of Masco by 15.4% during the 3rd quarter. Van ECK Associates Corp now owns 5,320,936 shares of the construction company’s stock worth $284,404,000 after acquiring an additional 711,988 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Masco by 1,307.8% during the 3rd quarter. Lazard Asset Management LLC now owns 686,794 shares of the construction company’s stock worth $36,708,000 after acquiring an additional 638,010 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Masco by 443.5% during the 3rd quarter. Acadian Asset Management LLC now owns 502,157 shares of the construction company’s stock worth $26,829,000 after acquiring an additional 409,767 shares during the period. Qube Research & Technologies Ltd boosted its stake in shares of Masco by 87.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 815,888 shares of the construction company’s stock worth $43,609,000 after acquiring an additional 380,267 shares during the period. Finally, Yacktman Asset Management LP bought a new position in shares of Masco during the 3rd quarter worth approximately $19,542,000. 93.91% of the stock is currently owned by institutional investors.

Masco Price Performance

Shares of MAS stock traded up $0.56 on Friday, hitting $69.54. 1,392,156 shares of the company’s stock were exchanged, compared to its average volume of 2,065,198. Masco Co. has a 12 month low of $47.66 and a 12 month high of $78.94. The company has a debt-to-equity ratio of 18.76, a current ratio of 1.74 and a quick ratio of 1.09. The company has a 50 day moving average of $74.79 and a 200 day moving average of $67.35. The stock has a market cap of $15.32 billion, a P/E ratio of 16.91, a price-to-earnings-growth ratio of 1.80 and a beta of 1.28.

Masco (NYSE:MAS) last announced its quarterly 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. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.94 billion. Masco had a net margin of 11.60% and a return on equity of 865.37%. The firm’s revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.87 EPS. On average, equities research analysts predict that Masco Co. will post 4.11 EPS for the current year.

Masco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Thursday, February 22nd were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.67%. This is a boost from Masco’s previous quarterly dividend of $0.29. The ex-dividend date was Wednesday, February 21st. Masco’s dividend payout ratio is currently 28.43%.

Insider Buying and Selling

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 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 filing with the SEC, which is available through the SEC website. In other Masco 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 value of $385,250.00. Following the completion of the transaction, 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 SEC, which is available at this hyperlink. Also, 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 completion of the transaction, the vice president now owns 58,885 shares of the company’s stock, valued at $4,395,765.25. The disclosure for this sale can be found here. Insiders sold a total of 83,762 shares of company stock worth $6,337,597 in the last three months. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Loop Capital reduced their target price on Masco from $79.00 to $76.00 and set a “hold” rating for the company in a research note on Thursday, April 25th. StockNews.com cut Masco from a “buy” rating to a “hold” rating in a research report on Friday. Royal Bank of Canada lifted their target price on Masco from $79.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Truist Financial raised their price target 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. Finally, Citigroup boosted their price objective on shares of Masco from $74.00 to $79.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $72.15.

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.