Riverwater Partners LLC Trims Stock Position in Masco Co. (NYSE:MAS)

Riverwater Partners LLC lessened its stake in Masco Co. (NYSE:MAS) by 3.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,447 shares of the construction company’s stock after selling 280 shares during the period. Riverwater Partners LLC’s holdings in Masco were worth $703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in MAS. New Covenant Trust Company N.A. purchased a new position in shares of Masco during the first quarter worth approximately $25,000. Innealta Capital LLC purchased a new position in Masco during the 2nd quarter worth $25,000. Family Firm Inc. acquired a new position in Masco in the second quarter valued at $30,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of 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 buying an additional 179 shares during the last quarter. Finally, Larson Financial Group LLC boosted its stake in shares of Masco by 4,545.5% during the first quarter. Larson Financial Group LLC now owns 511 shares of the construction company’s stock worth $40,000 after buying an additional 500 shares during the period. Hedge funds and other institutional investors own 93.91% of the company’s stock.

Insider Activity

In related news, VP Kenneth G. Cole sold 37,814 shares of the 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 transaction, the vice president now owns 36,980 shares in the company, valued at approximately $2,896,273.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

MAS has been the topic of several recent analyst reports. Truist Financial boosted their target price on Masco from $81.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Barclays increased their price objective on Masco from $88.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Robert W. Baird boosted their target price on shares of Masco from $88.00 to $95.00 and gave the stock an “outperform” rating in a research report on Monday. Royal Bank of Canada increased their price target on shares of Masco from $78.00 to $79.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Jefferies Financial Group boosted their price objective on shares of Masco from $89.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $81.75.

Masco Stock Down 0.3 %

Masco stock opened at $81.98 on Thursday. Masco Co. has a one year low of $47.66 and a one year high of $86.70. The company has a debt-to-equity ratio of 16.18, a quick ratio of 1.12 and a current ratio of 1.76. The firm has a market capitalization of $18.06 billion, a P/E ratio of 20.09, a P/E/G ratio of 2.64 and a beta of 1.24. The company has a 50-day simple moving average of $81.10 and a 200-day simple moving average of $74.22.

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

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.