SVB Wealth LLC Decreases Stock Holdings in Masco Co. (NYSE:MAS)

SVB Wealth LLC decreased its holdings in shares of Masco Co. (NYSE:MAS) by 4.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 153,124 shares of the construction company’s stock after selling 7,394 shares during the quarter. SVB Wealth LLC’s holdings in Masco were worth $10,209,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. New Covenant Trust Company N.A. bought a new position in Masco during the first quarter valued at $25,000. Innealta Capital LLC bought a new position in shares of Masco in the second quarter worth about $25,000. Versant Capital Management Inc grew its holdings in shares of Masco by 62.4% in the first quarter. Versant Capital Management Inc now owns 354 shares of the construction company’s stock worth $28,000 after purchasing an additional 136 shares during the last quarter. Family Firm Inc. bought a new position in shares of Masco in the second quarter worth about $30,000. Finally, Massmutual Trust Co. FSB ADV grew its holdings in shares of Masco by 46.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the construction company’s stock worth $38,000 after purchasing an additional 179 shares during the last quarter. Hedge funds and other institutional investors own 93.91% of the company’s stock.

Masco Stock Performance

Shares of Masco stock traded down $0.02 during midday trading on Friday, hitting $77.22. The company had a trading volume of 1,446,726 shares, compared to its average volume of 1,899,495. The stock has a market cap of $17.01 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 2.50 and a beta of 1.24. The company has a quick ratio of 1.12, a current ratio of 1.76 and a debt-to-equity ratio of 16.18. The company has a fifty day simple moving average of $73.90 and a 200 day simple moving average of $72.79. Masco Co. has a 12-month low of $47.66 and a 12-month high of $81.91.

Masco (NYSE:MAS) last announced its quarterly earnings data on Thursday, July 25th. The construction company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.18 by $0.02. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.10 billion. Masco had a net margin of 11.59% and a return on equity of 602.39%. Masco’s revenue was down 1.7% on a year-over-year basis. During the same period last year, the firm posted $1.19 EPS. As a group, analysts predict that Masco Co. will post 4.11 earnings per share for the current fiscal year.

Masco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 2nd were issued a $0.29 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $1.16 annualized dividend and a yield of 1.50%. Masco’s dividend payout ratio (DPR) is presently 28.43%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. BMO Capital Markets upped their price target on shares of Masco from $75.00 to $78.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. Barclays increased their target price on shares of Masco from $79.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Robert W. Baird increased their target price on shares of Masco from $84.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Citigroup dropped their target price on shares of Masco from $73.00 to $66.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Finally, Truist Financial increased their target price on shares of Masco from $81.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $77.58.

About Masco

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.