Montecito Bank & Trust Acquires 6,553 Shares of Masco Co. (NYSE:MAS)

Montecito Bank & Trust raised its holdings in shares of Masco Co. (NYSE:MAS) by 125.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,778 shares of the construction company’s stock after buying an additional 6,553 shares during the quarter. Montecito Bank & Trust’s holdings in Masco were worth $989,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. New Covenant Trust Company N.A. bought a new stake in Masco in the 1st quarter valued at $25,000. Innealta Capital LLC bought a new position in Masco during the second quarter worth about $25,000. Family Firm Inc. acquired a new stake in Masco in the 2nd quarter valued at $30,000. Massmutual Trust Co. FSB ADV grew its holdings in shares of Masco by 46.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the construction company’s stock worth $38,000 after purchasing an additional 179 shares during the last quarter. Finally, Larson Financial Group LLC increased its holdings 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 in the last quarter. 93.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MAS has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Masco from $80.00 to $83.50 and gave the stock a “neutral” rating in a research note on Tuesday. UBS Group boosted their price objective on Masco from $89.00 to $94.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Barclays raised their target price on shares of Masco from $92.00 to $93.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Loop Capital increased their price objective on shares of Masco from $76.00 to $87.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, Evercore ISI upped their target price on shares of Masco from $78.00 to $82.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.96.

Insider Activity at Masco

In other Masco news, VP Kenneth G. Cole sold 37,814 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.10% of the company’s stock.

Masco Stock Up 0.0 %

Shares of Masco stock opened at $80.24 on Friday. Masco Co. has a 52-week low of $55.09 and a 52-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 business’s 50 day simple moving average is $81.71 and its 200 day simple moving average is $74.77. The firm has a market cap of $17.31 billion, a PE ratio of 21.34, a P/E/G ratio of 2.62 and a beta of 1.24.

Masco (NYSE:MAS) last announced its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.08 EPS for the quarter, hitting analysts’ consensus estimates 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 analyst estimates of $2 billion. During the same quarter in the previous year, the firm posted $1.00 earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis. On average, analysts predict that Masco Co. will post 4.1 earnings per share for the current fiscal year.

Masco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be issued a dividend of $0.29 per share. The ex-dividend date is Friday, November 8th. This represents a $1.16 annualized dividend and a yield of 1.45%. Masco’s payout ratio is presently 30.85%.

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.