Arrow Financial Corp Sells 2,848 Shares of Masco Co. (NYSE:MAS)

Arrow Financial Corp lessened its holdings in Masco Co. (NYSE:MAS) by 5.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 50,714 shares of the construction company’s stock after selling 2,848 shares during the quarter. Arrow Financial Corp’s holdings in Masco were worth $4,257,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of 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 in the last quarter. Massachusetts Financial Services Co. MA grew its position in Masco by 1.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 9,830,723 shares of the construction company’s stock worth $655,414,000 after buying an additional 181,515 shares in the last quarter. Van ECK Associates Corp increased its stake in Masco by 0.9% during the 3rd 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 during the period. Impax Asset Management Group plc raised its holdings in 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 acquiring an additional 259,205 shares in the last quarter. Finally, Earnest Partners LLC lifted its position in shares of Masco by 16.6% during the 1st quarter. Earnest Partners LLC now owns 2,245,644 shares of the construction company’s stock valued at $177,136,000 after acquiring an additional 319,029 shares during the period. 93.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. BMO Capital Markets raised their price target on Masco from $78.00 to $85.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Robert W. Baird dropped their target price on shares of Masco from $95.00 to $94.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. UBS Group increased their price target on shares of Masco from $89.00 to $94.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company boosted their price objective on shares of Masco from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, Jefferies Financial Group raised their target price on Masco from $89.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Seven equities 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, the company has an average rating of “Moderate Buy” and a consensus price target of $85.96.

Masco Stock Performance

Masco stock opened at $80.95 on Friday. The business has a 50 day moving average of $81.74 and a 200-day moving average of $74.85. The company has a debt-to-equity ratio of 20.74, a current ratio of 1.83 and a quick ratio of 1.21. Masco Co. has a 1 year low of $55.13 and a 1 year high of $86.70. The company has a market capitalization of $17.46 billion, a P/E ratio of 21.53, a P/E/G ratio of 2.60 and a beta of 1.24.

Masco (NYSE:MAS) last announced its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.08. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $2 billion. Masco had a net margin of 10.54% and a return on equity of 615.54%. The company’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company posted $1.00 EPS. On average, equities research analysts predict that Masco Co. will post 4.1 earnings per share for the current year.

Masco Dividend Announcement

The business 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 dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Friday, November 8th. Masco’s payout ratio is presently 30.85%.

Insider Buying and Selling at Masco

In related news, VP Kenneth G. Cole sold 37,814 shares of Masco 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 directly owns 36,980 shares of the company’s stock, valued at $2,896,273.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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.