Carnegie Capital Asset Management LLC lessened its stake in shares of Masco Co. (NYSE: MAS – Get Rating) by 1.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,201 shares of the construction company stock after selling 1,883 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Masco were worth $ 5,620,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Massachusetts Financial Services Co. MA lifted its position in Masco by 3.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 21,229,307 shares of the construction company stock valued at $ 1,490,722,000 after acquiring an additional 615,687 shares in the last quarter. State Street Corp lifted its position in Masco by 2.0% in the 4th quarter. State Street Corp now owns 11,502,439 shares of the construction company stock valued at $ 807,701,000 after acquiring an additional 221,519 shares in the last quarter. Pictet Asset Management SA lifted its position in Masco by 6.1% in the 4th quarter. Pictet Asset Management SA now owns 5,453,874 shares of the construction company stock valued at $ 382,971,000 after acquiring an additional 315,343 shares in the last quarter. Geode Capital Management LLC lifted its position in Masco by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 4,403,661 shares of the construction company stock valued at $ 308,386,000 after acquiring an additional 100,336 shares in the last quarter. Finally, AustralianSuper Pty Ltd lifted its position in Masco by 29.7% in the 4th quarter. AustralianSuper Pty Ltd now owns 3,994,603 shares of the construction company stock valued at $ 280,461,000 after acquiring an additional 915,605 shares in the last quarter. 93.76% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently weighed in on MAS. Bank of America cut shares of Masco from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $ 75.00 to $ 55.00 in a research report on Monday, April 11th. Robert W. Baird lifted their target price on shares of Masco from $ 68.00 to $ 72.00 in a research report on Thursday, April 28th. Barclays dropped their target price on shares of Masco from $ 75.00 to $ 68.00 in a research report on Thursday, March 31st. Wells Fargo & Company dropped their target price on Masco shares from $ 70.00 to $ 60.00 and set an “overweight” rating on the stock in a research report on Thursday, April 21st. Finally, JPMorgan Chase & Co. dropped their target price on shares of Masco from $ 60.00 to $ 54.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 20th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $ 65.33.
Shares of MAS stock opened at $ 47.26 on Wednesday. The company has a 50 day moving average of $ 53.50 and a 200-day moving average of $ 58.16. The company has a quick ratio of 0.98, a current ratio of 1.60 and a debt-to-equity ratio of 52.66. Masco Co. has a 12-month low of $ 46.79 and a 12-month high of $ 71.06. The firm has a market cap of $ 11.15 billion, a P / E ratio of 20.82, a PEG ratio of 1.00 and a beta of 1.23.
Masco (NYSE: MAS – Get Rating) last issued its quarterly earnings results on Wednesday, April 27th. The construction company reported $ 0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $ 0.88 by $ 0.07. Masco had a net margin of 6.38% and a return on equity of 3,870.83%. The company had revenue of $ 2.20 billion during the quarter, compared to analyst estimates of $ 2.06 billion. During the same quarter last year, the business posted $ 0.89 EPS. Masco’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, equities analysts expect that Masco Co. will post 4.25 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 13th. Investors of record on Friday, May 27th were paid a $ 0.28 dividend. The ex-dividend date of this dividend was Thursday, May 26th. This represents a $ 1.12 dividend on an annualized basis and a yield of 2.37%. Masco’s dividend payout ratio is 49.34%.
In related news, CEO Keith J. Allman sold 10,000 shares of Masco stock in a transaction that occurred on Thursday, April 14th. The shares were sold at an average price of $ 49.88, for a total value of $ 498,800.00. Following the completion of the transaction, the chief executive officer now directly owns 298,295 shares in the company, valued at approximately $ 14,878,954.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles K. Stevens III sold 7,000 shares of the business’s stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $ 56.38, for a total transaction of $ 394,660.00. Following the transaction, the director now owns 10,160 shares of the company stock, valued at $ 572,820.80. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.
Masco Profile: (Get Rating)
Masco Corporation designs, manufactures, and distributes home improvement and building products in North America, Europe, and internationally. The company 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.
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