Yacktman Asset Management LP Increases Stake in Masco Co. (NYSE:MAS)

Yacktman Asset Management LP increased its position in shares of Masco Co. (NYSE:MAS) by 30.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 475,183 shares of the construction company’s stock after buying an additional 109,564 shares during the period. Yacktman Asset Management LP owned about 0.21% of Masco worth $31,828,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Masco by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 25,787,414 shares of the construction company’s stock valued at $1,378,337,000 after purchasing an additional 298,116 shares in the last quarter. Boston Partners raised its stake in Masco by 4.2% in the third quarter. Boston Partners now owns 9,021,312 shares of the construction company’s stock valued at $481,875,000 after buying an additional 359,562 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Masco by 15.4% during the 3rd quarter. Van ECK Associates Corp now owns 5,320,936 shares of the construction company’s stock worth $284,404,000 after buying an additional 711,988 shares during the last quarter. Northern Trust Corp boosted its position in shares of Masco by 3.8% during the 3rd quarter. Northern Trust Corp now owns 3,934,986 shares of the construction company’s stock worth $210,325,000 after acquiring an additional 145,472 shares in the last quarter. Finally, AustralianSuper Pty Ltd increased its holdings in shares of Masco by 1.8% in the 4th quarter. AustralianSuper Pty Ltd now owns 3,333,651 shares of the construction company’s stock valued at $223,288,000 after acquiring an additional 57,395 shares during the last quarter. Institutional investors and hedge funds own 93.91% of the company’s stock.

Masco Stock Performance

MAS traded up $0.14 during trading on Friday, hitting $70.01. The stock had a trading volume of 1,034,118 shares, compared to its average volume of 2,068,563. Masco Co. has a twelve month low of $47.66 and a twelve month high of $78.94. The firm has a market capitalization of $15.44 billion, a P/E ratio of 17.13, a PEG ratio of 2.17 and a beta of 1.25. The company has a debt-to-equity ratio of 18.76, a quick ratio of 1.08 and a current ratio of 1.74. The company’s 50-day moving average price is $75.23 and its 200 day moving average price is $66.76.

Masco (NYSE:MAS) last posted its quarterly earnings results on Wednesday, April 24th. The construction company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.06. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Masco had a net margin of 11.60% and a return on equity of 865.37%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.87 earnings per share. On average, equities research analysts forecast that Masco Co. will post 4.11 EPS for the current fiscal year.

Masco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Thursday, February 22nd were paid a $0.29 dividend. This is an increase from Masco’s previous quarterly dividend of $0.29. This represents a $1.16 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend was Wednesday, February 21st. Masco’s dividend payout ratio (DPR) is presently 28.43%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MAS. Royal Bank of Canada upped their price target on Masco from $79.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday. Truist Financial increased their target price on shares of Masco from $65.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, February 9th. StockNews.com raised shares of Masco from a “hold” rating to a “buy” rating in a research report on Thursday. Loop Capital cut their target price on Masco from $79.00 to $76.00 and set a “hold” rating on the stock in a research report on Thursday. Finally, Citigroup upped their target price on Masco from $74.00 to $79.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Masco currently has an average rating of “Moderate Buy” and a consensus price target of $71.07.

Insider Buying and Selling

In other news, insider Jai Shah sold 42,552 shares of Masco stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $76.36, for a total transaction of $3,249,270.72. Following the completion of the transaction, the insider now owns 15,830 shares of the company’s stock, valued at approximately $1,208,778.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Masco news, insider Jai Shah sold 42,552 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $76.36, for a total transaction of $3,249,270.72. Following the sale, the insider now owns 15,830 shares in the company, valued at approximately $1,208,778.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Kenneth G. Cole sold 36,210 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $74.65, for a total value of $2,703,076.50. Following the completion of the transaction, the vice president now directly owns 58,885 shares of the company’s stock, valued at $4,395,765.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 83,762 shares of company stock valued at $6,337,597. 1.10% of the stock is 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.