Dai ichi Life Insurance Company Ltd Acquires New Shares in Masco Co. (NYSE:MAS)

Dai ichi Life Insurance Company Ltd purchased a new stake in shares of Masco Co. (NYSE:MAS) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 7,185 shares of the construction company’s stock, valued at approximately $603,000.

Several other hedge funds also recently bought and sold shares of MAS. Innealta Capital LLC bought a new stake in shares of Masco during the 2nd quarter valued at about $25,000. Family Firm Inc. bought a new stake in Masco during the second quarter valued at approximately $30,000. Capital Performance Advisors LLP purchased a new position in Masco in the 3rd quarter worth approximately $38,000. Ashton Thomas Securities LLC bought a new position in shares of Masco in the 3rd quarter worth $43,000. Finally, Massmutual Trust Co. FSB ADV increased its stake in Masco by 46.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the construction company’s stock valued at $38,000 after acquiring an additional 179 shares during the last quarter. Hedge funds and other institutional investors own 93.91% of the company’s stock.

Insider Activity at Masco

In other Masco news, VP Kenneth G. Cole sold 37,814 shares of the business’s stock in a transaction dated 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 directly owns 36,980 shares in the company, valued at $2,896,273.60. This represents a 50.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by insiders.

Masco Trading Down 0.4 %

Masco stock opened at $80.42 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.21 and a debt-to-equity ratio of 20.74. The stock’s 50 day simple moving average is $81.75 and its two-hundred day simple moving average is $75.66. Masco Co. has a 12 month low of $58.91 and a 12 month high of $86.70. The firm has a market cap of $17.35 billion, a PE ratio of 21.39, a P/E/G ratio of 2.66 and a beta of 1.24.

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

Masco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Friday, November 8th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend was Friday, November 8th. Masco’s payout ratio is currently 30.85%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on MAS shares. JPMorgan Chase & Co. raised their price objective on Masco from $80.00 to $83.50 and gave the company a “neutral” rating in a report on Tuesday, November 5th. BMO Capital Markets boosted their price target on Masco from $78.00 to $85.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Wells Fargo & Company lifted their price target on Masco from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. UBS Group boosted their price objective on shares of Masco from $89.00 to $94.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Truist Financial increased their price target on shares of Masco from $84.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $85.96.

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.