First Citizens Bank & Trust Co. Has $1.92 Million Stock Holdings in Masco Co. (NYSE:MAS)

First Citizens Bank & Trust Co. reduced its holdings in Masco Co. (NYSE:MAS) by 2.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 22,827 shares of the construction company’s stock after selling 549 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Masco were worth $1,916,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Manning & Napier Advisors LLC acquired a new stake in Masco in the second quarter valued at $82,363,000. Acadian Asset Management LLC increased its stake in shares of Masco by 66.5% in the second quarter. Acadian Asset Management LLC now owns 1,823,934 shares of the construction company’s stock valued at $121,581,000 after buying an additional 728,690 shares during the period. Vanguard Group Inc. raised its position in shares of Masco by 2.8% during the first quarter. Vanguard Group Inc. now owns 26,300,591 shares of the construction company’s stock worth $2,074,591,000 after acquiring an additional 721,117 shares during the last quarter. Lazard Asset Management LLC lifted its stake in shares of Masco by 55.8% in the first quarter. Lazard Asset Management LLC now owns 1,538,952 shares of the construction company’s stock worth $121,391,000 after acquiring an additional 551,203 shares during the period. Finally, Earnest Partners LLC boosted its holdings in Masco by 16.6% in the first 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 last quarter. Institutional investors own 93.91% of the company’s stock.

Insider Activity at Masco

In other Masco news, VP Kenneth G. Cole sold 37,814 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $78.32, for a total value of $2,961,592.48. Following the completion of the sale, the vice president now directly owns 36,980 shares of the company’s stock, valued at approximately $2,896,273.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on MAS shares. Royal Bank of Canada boosted their price target on shares of Masco from $78.00 to $79.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Truist Financial boosted their target price on shares of Masco from $81.00 to $84.00 and gave the company a “buy” rating in a report on Friday, July 26th. StockNews.com downgraded Masco from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. Citigroup dropped their price objective on Masco from $73.00 to $66.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Finally, Robert W. Baird raised their target price on Masco from $84.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $80.58.

Masco Price Performance

MAS stock opened at $85.71 on Friday. The company has a debt-to-equity ratio of 16.18, a quick ratio of 1.12 and a current ratio of 1.76. The business has a 50-day simple moving average of $80.57 and a two-hundred day simple moving average of $74.10. The company has a market capitalization of $18.88 billion, a P/E ratio of 21.01, a price-to-earnings-growth ratio of 2.64 and a beta of 1.24. Masco Co. has a 52-week low of $47.66 and a 52-week high of $86.70.

Masco (NYSE:MAS) last announced its earnings results on Thursday, July 25th. The construction company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.02. The company had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Masco had a return on equity of 602.39% and a net margin of 11.59%. Masco’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.19 earnings per share. Research analysts expect that Masco Co. will post 4.11 EPS for the current fiscal year.

Masco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 2nd were issued a $0.29 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $1.16 annualized dividend and a dividend yield of 1.35%. Masco’s dividend payout ratio is currently 28.43%.

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.