KLP Kapitalforvaltning AS Acquires Shares of 76,366 Masco Co. (NYSE:MAS)

KLP Kapitalforvaltning AS bought a new position in shares of Masco Co. (NYSE:MAS) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 76,366 shares of the construction company’s stock, valued at approximately $5,542,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Franklin Resources Inc. increased its holdings in Masco by 20.6% during the 3rd quarter. Franklin Resources Inc. now owns 331,883 shares of the construction company’s stock worth $28,147,000 after purchasing an additional 56,626 shares during the period. Foster Victor Wealth Advisors LLC increased its stake in shares of Masco by 6.6% during the fourth quarter. Foster Victor Wealth Advisors LLC now owns 219,120 shares of the construction company’s stock valued at $17,135,000 after buying an additional 13,568 shares during the period. Versant Capital Management Inc raised 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 acquiring an additional 631 shares in the last quarter. Empower Advisory Group LLC lifted its stake in Masco by 2.0% in the fourth quarter. Empower Advisory Group LLC now owns 1,016,079 shares of the construction company’s stock worth $73,737,000 after acquiring an additional 20,129 shares during the period. Finally, Principal Securities Inc. grew its holdings in Masco by 20.5% during the 4th quarter. Principal Securities Inc. now owns 11,337 shares of the construction company’s stock worth $823,000 after acquiring an additional 1,931 shares in the last quarter. Institutional investors own 93.91% of the company’s stock.

Masco Trading Down 0.6 %

NYSE MAS opened at $70.33 on Wednesday. The stock has a market cap of $14.91 billion, a P/E ratio of 18.70, a P/E/G ratio of 1.94 and a beta of 1.24. The company has a current ratio of 1.75, a quick ratio of 1.15 and a debt-to-equity ratio of 20.74. Masco Co. has a 12-month low of $63.81 and a 12-month high of $86.70. The company has a fifty day simple moving average of $75.71 and a two-hundred day simple moving average of $78.09.

Masco (NYSE:MAS) last issued its quarterly earnings results on Tuesday, February 11th. The construction company reported $0.89 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 previous year, the company posted $0.83 earnings per share. On average, analysts forecast that Masco Co. will post 4.34 earnings per share for the current year.

Masco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 21st were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend was Friday, February 21st. This is an increase from Masco’s previous quarterly dividend of $0.29. Masco’s dividend payout ratio is 32.98%.

Analyst Upgrades and Downgrades

MAS has been the subject of several recent research reports. Citigroup reduced their price target on shares of Masco from $82.00 to $77.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Wells Fargo & Company lowered their target price on Masco from $85.00 to $82.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Oppenheimer upgraded Masco from a “market perform” rating to an “outperform” rating and set a $89.00 price target on the stock in a report on Friday, January 10th. Jefferies Financial Group cut Masco from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $96.00 to $89.00 in a research note on Monday, December 16th. Finally, The Goldman Sachs Group lifted their target price on Masco from $85.00 to $96.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.32.

Insiders Place Their Bets

In other news, VP Renee Straber sold 3,139 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $71.78, for a total value of $225,317.42. Following the sale, the vice president now owns 33,027 shares in the company, valued at $2,370,678.06. This represents a 8.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Keith J. Allman sold 21,723 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $76.36, for a total transaction 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 represents a 26.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

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.