First Commonwealth Financial Corp PA Takes $200,000 Position in Masco Co. (NYSE:MAS)

First Commonwealth Financial Corp PA bought a new stake in shares of Masco Co. (NYSE:MAS) during the third quarter, Holdings Channel reports. The institutional investor bought 2,388 shares of the construction company’s stock, valued at approximately $200,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Massachusetts Financial Services Co. MA raised its holdings in shares of 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 valued at $655,414,000 after purchasing an additional 181,515 shares during the period. Van ECK Associates Corp increased its position in Masco by 0.9% in the 3rd quarter. Van ECK Associates Corp now owns 2,950,880 shares of the construction company’s stock valued at $241,825,000 after buying an additional 26,259 shares in the last quarter. Impax Asset Management Group plc raised its stake in Masco by 10.0% during the 2nd quarter. Impax Asset Management Group plc now owns 2,855,056 shares of the construction company’s stock worth $190,347,000 after buying an additional 259,205 shares during the period. Acadian Asset Management LLC boosted its holdings in Masco by 66.5% in the second quarter. Acadian Asset Management LLC now owns 1,823,934 shares of the construction company’s stock worth $121,581,000 after acquiring an additional 728,690 shares in the last quarter. Finally, Ensign Peak Advisors Inc grew its stake in Masco by 15.7% in the second quarter. Ensign Peak Advisors Inc now owns 1,758,889 shares of the construction company’s stock valued at $117,265,000 after acquiring an additional 238,512 shares during the period. 93.91% of the stock is owned by institutional investors.

Insider Buying and Selling at Masco

In other 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 completion of the transaction, the vice president now owns 36,980 shares of the company’s stock, valued at approximately $2,896,273.60. The trade was a 50.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

MAS has been the topic of a number of research reports. JPMorgan Chase & Co. upped their target price on Masco from $80.00 to $83.50 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Loop Capital raised their price objective 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. Truist Financial boosted their target price on shares of Masco from $84.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group upped their target price on shares of Masco from $89.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, StockNews.com downgraded Masco from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Masco currently has a consensus rating of “Hold” and a consensus price target of $85.96.

Masco Price Performance

MAS stock opened at $80.41 on Thursday. The firm has a 50 day moving average of $81.77 and a 200-day moving average of $75.63. The company has a current ratio of 1.83, a quick ratio of 1.21 and a debt-to-equity ratio of 20.74. The firm has a market capitalization of $17.35 billion, a P/E ratio of 21.39, a price-to-earnings-growth ratio of 2.66 and a beta of 1.24. Masco Co. has a 12 month low of $58.91 and a 12 month high of $86.70.

Masco (NYSE:MAS) last released its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.08 EPS for the quarter, meeting analysts’ consensus estimates of $1.08. The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $2 billion. Masco had a net margin of 10.54% and a return on equity of 615.54%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the business earned $1.00 EPS. As a group, sell-side analysts predict that Masco Co. will post 4.09 earnings per share for the current fiscal year.

Masco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Friday, November 8th were paid a $0.29 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.16 dividend on an annualized basis and a yield of 1.44%. Masco’s dividend payout ratio is currently 30.85%.

Masco Company 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.