Patten & Patten Inc. TN Lowers Position in Masco Co. (NYSE:MAS)

Patten & Patten Inc. TN lessened its stake in Masco Co. (NYSE:MAS) by 2.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,152 shares of the construction company’s stock after selling 275 shares during the period. Patten & Patten Inc. TN’s holdings in Masco were worth $737,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of MAS. ORG Wealth Partners LLC purchased a new stake in Masco in the 4th quarter worth approximately $27,000. Golden State Wealth Management LLC purchased a new stake in Masco in the 4th quarter worth approximately $27,000. Kestra Investment Management LLC purchased a new stake in Masco in the 4th quarter worth approximately $30,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of Masco by 26.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 703 shares of the construction company’s stock valued at $51,000 after buying an additional 148 shares in the last quarter. Finally, SRS Capital Advisors Inc. lifted its position in shares of Masco by 74.3% during the 4th quarter. SRS Capital Advisors Inc. now owns 774 shares of the construction company’s stock valued at $56,000 after buying an additional 330 shares in the last quarter. Hedge funds and other institutional investors own 93.91% of the company’s stock.

Insider Buying and Selling

In related news, VP Renee Straber sold 3,139 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $71.78, for a total transaction of $225,317.42. Following the completion of the transaction, the vice president now directly owns 33,027 shares in the company, valued at $2,370,678.06. This trade represents a 8.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Keith J. Allman sold 21,723 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $76.36, for a total value of $1,658,768.28. Following the transaction, the chief executive officer now owns 60,267 shares of the company’s stock, valued at $4,601,988.12. This trade represents a 26.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

MAS has been the topic of a number of recent analyst reports. Citigroup decreased their target price on Masco from $82.00 to $77.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. The Goldman Sachs Group increased their target price on Masco from $85.00 to $96.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Barclays increased their target price on Masco from $84.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Zelman & Associates upgraded Masco to a “strong-buy” rating in a report on Friday, January 17th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $74.00 price objective on shares of Masco in a report on Wednesday, February 12th. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Masco currently has an average rating of “Moderate Buy” and an average target price of $86.32.

Masco Stock Up 1.6 %

Shares of MAS opened at $70.35 on Monday. The stock has a fifty day simple moving average of $76.04 and a two-hundred day simple moving average of $78.47. The company has a quick ratio of 1.15, a current ratio of 1.75 and a debt-to-equity ratio of 20.74. The company has a market capitalization of $14.91 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 1.94 and a beta of 1.24. Masco Co. has a 52-week low of $63.81 and a 52-week high of $86.70.

Masco (NYSE:MAS) last issued its quarterly earnings data 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 return on equity of 838.32% and a net margin of 10.50%. During the same quarter in the prior year, the business posted $0.83 earnings per share. As a group, equities analysts forecast that Masco Co. will post 4.34 EPS for the current year.

Masco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 21st were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.76%. This is an increase from Masco’s previous quarterly dividend of $0.29. The ex-dividend date was Friday, February 21st. Masco’s dividend payout ratio (DPR) is presently 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.