Empower Advisory Group LLC Has $83.60 Million Stake in Masco Co. (NYSE:MAS)

Empower Advisory Group LLC raised its holdings in Masco Co. (NYSE:MAS) by 1.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 995,950 shares of the construction company’s stock after buying an additional 14,870 shares during the period. Empower Advisory Group LLC owned 0.46% of Masco worth $83,600,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Victory Capital Management Inc. boosted its holdings in shares of Masco by 8.6% in the 3rd quarter. Victory Capital Management Inc. now owns 922,566 shares of the construction company’s stock valued at $77,440,000 after buying an additional 73,405 shares during the last quarter. Aigen Investment Management LP bought a new stake in Masco during the third quarter worth $241,000. Ashton Thomas Private Wealth LLC lifted its stake in Masco by 9.4% in the third quarter. Ashton Thomas Private Wealth LLC now owns 46,777 shares of the construction company’s stock valued at $3,926,000 after acquiring an additional 4,028 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Masco by 1.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 493,445 shares of the construction company’s stock valued at $41,420,000 after acquiring an additional 7,851 shares during the period. Finally, WCM Investment Management LLC increased its stake in shares of Masco by 0.3% during the 3rd quarter. WCM Investment Management LLC now owns 44,940 shares of the construction company’s stock worth $3,756,000 after purchasing an additional 132 shares during the last quarter. 93.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MAS. StockNews.com upgraded Masco from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. Wells Fargo & Company boosted their target price on Masco from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Barclays raised their price target on Masco from $92.00 to $93.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Truist Financial upped their price objective on shares of Masco from $84.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada downgraded shares of Masco from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from $79.00 to $80.00 in a report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Masco has an average rating of “Moderate Buy” and an average target price of $85.96.

Masco Stock Performance

NYSE:MAS opened at $79.01 on Wednesday. The company has a market cap of $17.05 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 2.62 and a beta of 1.24. Masco Co. has a fifty-two week low of $55.43 and a fifty-two week high of $86.70. The company has a debt-to-equity ratio of 20.74, a quick ratio of 1.21 and a current ratio of 1.83. The stock has a fifty day moving average price of $81.78 and a 200-day moving average price of $75.02.

Masco (NYSE:MAS) last announced its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.08. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $2 billion. Masco had a net margin of 10.54% and a return on equity of 615.54%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the company posted $1.00 earnings per share. As a group, equities analysts anticipate that Masco Co. will post 4.09 EPS for the current fiscal year.

Masco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Friday, November 8th. Masco’s dividend payout ratio is presently 30.85%.

Insider Activity

In other Masco news, VP Kenneth G. Cole sold 37,814 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $78.32, for a total transaction of $2,961,592.48. Following the sale, the vice president now owns 36,980 shares of the company’s stock, valued at approximately $2,896,273.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

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.