MAI Capital Management lowered its holdings in Masco Co. (NYSE:MAS – Get Rating) by 2.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,904 shares of the construction company's stock after selling 350 shares during the period. MAI Capital Management's holdings in Masco were worth $805,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of the business. Rockefeller Capital Management L.P. lifted its position in shares of Masco by 12.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 5,662 shares of the construction company's stock valued at $397,000 after buying an additional 647 shares during the last quarter. Blair William & Co. IL lifted its position in shares of Masco by 3.7% during the 4th quarter. Blair William & Co. IL now owns 8,325 shares of the construction company's stock valued at $585,000 after buying an additional 299 shares during the last quarter. Eaton Vance Management lifted its position in shares of Masco by 0.8% during the 4th quarter. Eaton Vance Management now owns 55,079 shares of the construction company's stock valued at $3,544,000 after buying an additional 442 shares during the last quarter. Lombard Odier Asset Management Switzerland SA purchased a new position in shares of Masco during the 4th quarter valued at $264,000. Finally, Canada Pension Plan Investment Board raised its stake in shares of Masco by 59.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 104,341 shares of the construction company's stock valued at $7,326,000 after purchasing an additional 38,925 shares during the period. Hedge funds and other institutional investors own 92.59% of the company's stock.
Get Masco alerts:Insiders Place Their Bets
In related news, CEO Keith J. Allman sold 10,000 shares of the company's stock in a transaction on Thursday, July 14th. The stock was sold at an average price of $52.02, for a total value of $520,200.00. Following the transaction, the chief executive officer now directly owns 288,295 shares of the company's stock, valued at approximately $14,997,105.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.20% of the stock is owned by company insiders.
Masco Trading Down 1.2 %
Shares of MAS stock opened at $46.69 on Friday. Masco Co. has a 12-month low of $45.27 and a 12-month high of $71.06. The company has a current ratio of 1.36, a quick ratio of 0.81 and a debt-to-equity ratio of 52.66. The stock's 50-day moving average price is $51.59 and its 200-day moving average price is $52.61. The stock has a market capitalization of $10.53 billion, a price-to-earnings ratio of 12.97, a price-to-earnings-growth ratio of 1.01 and a beta of 1.23.Masco (NYSE:MAS – Get Rating) last issued its quarterly earnings data on Thursday, July 28th. The construction company reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.05). Masco had a negative return on equity of 686.15% and a net margin of 9.83%. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the previous year, the firm earned $1.14 earnings per share. The company's revenue was up 7.9% compared to the same quarter last year. Equities research analysts predict that Masco Co. will post 4.17 EPS for the current fiscal year.
Masco Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, August 29th. Shareholders of record on Friday, August 12th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $1.12 dividend on an annualized basis and a yield of 2.40%. Masco's dividend payout ratio is currently 31.11%.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the company. BMO Capital Markets decreased their price objective on Masco from $68.00 to $60.00 in a research note on Monday, August 1st. UBS Group decreased their price objective on Masco from $81.00 to $76.00 and set a "buy" rating on the stock in a research note on Friday, July 29th. Wells Fargo & Company boosted their price objective on Masco from $60.00 to $62.00 and gave the company an "overweight" rating in a research note on Monday, August 1st. Barclays decreased their price objective on Masco from $68.00 to $66.00 and set an "overweight" rating on the stock in a research note on Thursday, July 14th. Finally, StockNews.com upgraded Masco from a "hold" rating to a "buy" rating in a research note on Monday, September 12th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Masco presently has an average rating of "Moderate Buy" and a consensus price target of $63.93.
Masco Company Profile
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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.
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