Wesbanco Bank Inc. Sells 383 Shares of Masco Co. (NYSE:MAS)

Wesbanco Bank Inc. lessened its stake in Masco Co. (NYSE:MAS) by 2.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,996 shares of the construction company’s stock after selling 383 shares during the period. Wesbanco Bank Inc.’s holdings in Masco were worth $1,343,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Masco by 14.3% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 542,096 shares of the construction company’s stock valued at $42,245,000 after acquiring an additional 67,806 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Masco in the 1st quarter valued at $1,903,000. Manning & Napier Advisors LLC acquired a new stake in shares of Masco during the second quarter worth $82,363,000. Vanguard Group Inc. raised its stake in Masco by 2.8% during the first quarter. Vanguard Group Inc. now owns 26,300,591 shares of the construction company’s stock worth $2,074,591,000 after buying an additional 721,117 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Masco by 119.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 290,123 shares of the construction company’s stock worth $22,885,000 after buying an additional 157,711 shares during the last quarter. Institutional investors and hedge funds own 93.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MAS. Royal Bank of Canada increased their price target on Masco from $78.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Truist Financial raised their target price on Masco from $81.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Robert W. Baird boosted their price target on Masco from $84.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. BMO Capital Markets raised their price objective on shares of Masco from $75.00 to $78.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. Finally, 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 research report on Thursday, July 11th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Masco has a consensus rating of “Moderate Buy” and a consensus target price of $80.58.

Masco Stock Performance

Shares of Masco stock opened at $85.13 on Wednesday. The company has a market cap of $18.75 billion, a PE ratio of 20.87, a price-to-earnings-growth ratio of 2.64 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. Masco Co. has a 52 week low of $47.66 and a 52 week high of $86.70. The business has a 50 day moving average price of $79.78 and a 200-day moving average price of $73.90.

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

Masco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 2nd were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend was Friday, August 2nd. Masco’s dividend payout ratio (DPR) is presently 28.43%.

Insiders Place Their Bets

In other news, VP Kenneth G. Cole sold 37,814 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $78.32, for a total value of $2,961,592.48. Following the completion of the transaction, the vice president now directly owns 36,980 shares of the company’s stock, valued at $2,896,273.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by insiders.

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.