Zions Bancorporation N.A. Sells 172 Shares of Masco Co. (NYSE:MAS)

Zions Bancorporation N.A. cut its stake in shares of Masco Co. (NYSE:MAS) by 31.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 379 shares of the construction company’s stock after selling 172 shares during the period. Zions Bancorporation N.A.’s holdings in Masco were worth $32,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. New Covenant Trust Company N.A. bought a new position in shares of Masco during the first quarter worth $25,000. Innealta Capital LLC bought a new position in Masco during the 2nd quarter valued at about $25,000. Family Firm Inc. purchased a new stake in Masco in the 2nd quarter worth about $30,000. Massmutual Trust Co. FSB ADV lifted 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 worth $38,000 after purchasing an additional 179 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of Masco during the third quarter valued at approximately $38,000. Institutional investors own 93.91% of the company’s stock.

Masco Price Performance

Shares of MAS opened at $78.42 on Friday. The company has a 50 day moving average of $81.86 and a two-hundred day moving average of $75.19. The company has a market cap of $16.92 billion, a price-to-earnings ratio of 20.86, a price-to-earnings-growth ratio of 2.57 and a beta of 1.24. The company has a quick ratio of 1.21, a current ratio of 1.83 and a debt-to-equity ratio of 20.74. Masco Co. has a twelve month low of $58.89 and a twelve month high of $86.70.

Masco (NYSE:MAS) last announced its 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 company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $2 billion. Masco had a return on equity of 615.54% and a net margin of 10.54%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.00 EPS. As a group, analysts predict that Masco Co. will post 4.09 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. Shareholders of record on Friday, November 8th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.48%. The ex-dividend date is Friday, November 8th. Masco’s dividend payout ratio is presently 30.85%.

Insider Buying and Selling 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 stock was sold at an average price of $78.32, for a total transaction of $2,961,592.48. Following the sale, the vice president now owns 36,980 shares in the company, valued at approximately $2,896,273.60. The trade was a 50.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on MAS shares. StockNews.com lowered Masco from a “buy” rating to a “hold” rating in a research note on Friday. Wells Fargo & Company boosted their price target on Masco from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Evercore ISI raised their price objective on Masco from $78.00 to $82.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Truist Financial upped their target price on Masco from $84.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Robert W. Baird decreased their price objective on Masco from $95.00 to $94.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $85.96.

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.