Masco Co. (NYSE:MAS) Shares Bought by Bank of Nova Scotia

Bank of Nova Scotia lifted its stake in shares of Masco Co. (NYSE:MAS) by 118.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,781 shares of the construction company’s stock after acquiring an additional 50,251 shares during the quarter. Bank of Nova Scotia’s holdings in Masco were worth $6,733,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Franklin Resources Inc. raised its holdings in shares of Masco by 20.6% during the third quarter. Franklin Resources Inc. now owns 331,883 shares of the construction company’s stock valued at $28,147,000 after acquiring an additional 56,626 shares during the period. Foster Victor Wealth Advisors LLC raised its stake in Masco by 6.6% during the 4th quarter. Foster Victor Wealth Advisors LLC now owns 219,120 shares of the construction company’s stock valued at $17,135,000 after purchasing an additional 13,568 shares during the period. Versant Capital Management Inc lifted its holdings in shares of Masco by 69.1% in the fourth quarter. Versant Capital Management Inc now owns 1,544 shares of the construction company’s stock valued at $112,000 after purchasing an additional 631 shares in the last quarter. Hillsdale Investment Management Inc. boosted its position in shares of Masco by 5,050.0% in the fourth quarter. Hillsdale Investment Management Inc. now owns 10,300 shares of the construction company’s stock worth $747,000 after buying an additional 10,100 shares during the period. Finally, Empower Advisory Group LLC grew its holdings in shares of Masco by 2.0% during the fourth quarter. Empower Advisory Group LLC now owns 1,016,079 shares of the construction company’s stock valued at $73,737,000 after buying an additional 20,129 shares in the last quarter. 93.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Masco

In related news, VP Renee Straber sold 3,139 shares of the business’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 owns 33,027 shares of the company’s stock, valued at approximately $2,370,678.06. The trade was a 8.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Keith J. Allman sold 21,723 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now owns 60,267 shares of the company’s stock, valued at approximately $4,601,988.12. The trade was a 26.49 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Zelman & Associates raised Masco to a “strong-buy” rating in a research note on Friday, January 17th. The Goldman Sachs Group increased their price target on shares of Masco from $85.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Oppenheimer raised shares of Masco from a “market perform” rating to an “outperform” rating and set a $89.00 price objective on the stock in a research report on Friday, January 10th. Citigroup cut their target price on shares of Masco from $82.00 to $77.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Finally, Barclays dropped their price target on shares of Masco from $87.00 to $75.00 and set an “overweight” rating on the stock in a research note on Tuesday. Ten equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $84.50.

Masco Stock Performance

Shares of NYSE MAS opened at $61.86 on Friday. The business’s 50-day simple moving average is $71.54 and its 200-day simple moving average is $76.49. Masco Co. has a 52 week low of $57.27 and a 52 week high of $86.70. The company has a debt-to-equity ratio of 20.74, a quick ratio of 1.15 and a current ratio of 1.75. The firm has a market cap of $13.09 billion, a price-to-earnings ratio of 16.45, a P/E/G ratio of 1.94 and a beta of 1.24.

Masco (NYSE:MAS) last announced its quarterly earnings results on Tuesday, February 11th. The construction company reported $0.89 EPS for the quarter, beating the consensus estimate 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 firm earned $0.83 EPS. As a group, equities research analysts expect that Masco Co. will post 4.34 earnings per share for the current fiscal year.

Masco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 21st were given a dividend of $0.31 per share. This is a positive change from Masco’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.24 dividend on an annualized basis and a yield of 2.00%. Masco’s payout ratio is currently 32.98%.

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.