Kanawha Capital Management LLC Buys Shares of 2,675 Masco Co. (NYSE:MAS)

Kanawha Capital Management LLC bought a new position in shares of Masco Co. (NYSE:MAS) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,675 shares of the construction company’s stock, valued at approximately $225,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Masco by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 26,300,591 shares of the construction company’s stock worth $2,074,591,000 after purchasing an additional 721,117 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Masco by 1.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 9,830,723 shares of the construction company’s stock valued at $655,414,000 after buying an additional 181,515 shares in the last quarter. Van ECK Associates Corp raised its position in Masco by 0.9% in the third quarter. Van ECK Associates Corp now owns 2,950,880 shares of the construction company’s stock worth $241,825,000 after acquiring an additional 26,259 shares in the last quarter. Impax Asset Management Group plc increased its holdings in shares of Masco by 10.0% in the 2nd quarter. Impax Asset Management Group plc now owns 2,855,056 shares of the construction company’s stock valued at $190,347,000 after purchasing an additional 259,205 shares in the last quarter. Finally, Earnest Partners LLC grew its position in Masco by 16.6% during the first quarter. Earnest Partners LLC now owns 2,245,644 shares of the construction company’s stock worth $177,136,000 after buying an additional 319,029 shares during the period. 93.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MAS has been the subject of several research reports. Jefferies Financial Group lifted their price objective on Masco from $89.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Loop Capital boosted their target price on shares of Masco from $76.00 to $87.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Robert W. Baird lowered their price objective on Masco from $95.00 to $94.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Truist Financial upped their price objective on Masco from $84.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Barclays raised their price target on shares of Masco from $92.00 to $93.00 and gave the company an “overweight” 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 company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $84.85.

Insider Buying and Selling

In related news, VP Kenneth G. Cole sold 37,814 shares of Masco stock in a transaction that occurred 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 transaction, the vice president now owns 36,980 shares of the company’s stock, valued at $2,896,273.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by insiders.

Masco Price Performance

NYSE:MAS opened at $80.79 on Tuesday. The company has a debt-to-equity ratio of 20.74, a current ratio of 1.83 and a quick ratio of 1.12. The company has a fifty day moving average price of $81.60 and a 200 day moving average price of $74.56. Masco Co. has a one year low of $54.55 and a one year high of $86.70. The stock has a market cap of $17.43 billion, a P/E ratio of 21.49, a PEG ratio of 2.58 and a beta of 1.24.

Masco (NYSE:MAS) last posted its earnings results on Tuesday, October 29th. The construction company reported $1.08 EPS for the quarter, hitting the consensus estimate of $1.08. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $2 billion. Masco had a return on equity of 615.54% and a net margin of 10.54%. Masco’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the company earned $1.00 EPS. Analysts anticipate that Masco Co. will post 4.1 earnings per share for the current year.

Masco Dividend Announcement

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

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.