New Mexico Educational Retirement Board cut its stake in Masco Co. (NYSE:MAS – Free Report) by 2.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,421 shares of the construction company’s stock after selling 300 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Masco were worth $518,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in MAS. United Bank grew its position in shares of Masco by 23.7% in the first quarter. United Bank now owns 12,644 shares of the construction company’s stock valued at $645,000 after purchasing an additional 2,425 shares in the last quarter. MetLife Investment Management LLC grew its position in Masco by 21.0% during the first quarter. MetLife Investment Management LLC now owns 65,264 shares of the construction company’s stock worth $3,328,000 after buying an additional 11,337 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Masco by 4.8% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,103 shares of the construction company’s stock worth $1,637,000 after buying an additional 1,466 shares in the last quarter. LSV Asset Management purchased a new position in Masco during the first quarter worth about $495,000. Finally, Allianz Asset Management GmbH grew its position in Masco by 200.0% during the first quarter. Allianz Asset Management GmbH now owns 457,744 shares of the construction company’s stock worth $23,345,000 after buying an additional 305,138 shares in the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
MAS has been the subject of several recent analyst reports. Royal Bank of Canada boosted their target price on Masco from $59.00 to $68.00 and gave the stock an “outperform” rating in a research report on Friday, July 28th. Deutsche Bank Aktiengesellschaft boosted their target price on Masco from $56.00 to $57.00 in a research report on Thursday, April 27th. Bank of America upped their price objective on Masco from $57.00 to $59.00 in a report on Friday, July 28th. Jefferies Financial Group upped their price objective on Masco from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, July 13th. Finally, Argus upped their price objective on Masco from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday. Two analysts have rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Masco currently has an average rating of “Moderate Buy” and an average target price of $62.58.
Insider Buying and Selling at Masco
In other Masco news, CFO John G. Sznewajs sold 20,361 shares of the stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $54.00, for a total transaction of $1,099,494.00. Following the sale, the chief financial officer now directly owns 187,784 shares in the company, valued at approximately $10,140,336. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO John G. Sznewajs sold 20,361 shares of the stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $54.00, for a total transaction of $1,099,494.00. Following the transaction, the chief financial officer now directly owns 187,784 shares of the company’s stock, valued at approximately $10,140,336. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Kenneth G. Cole sold 10,000 shares of the firm’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $54.95, for a total value of $549,500.00. Following the completion of the transaction, the vice president now owns 70,198 shares in the company, valued at $3,857,380.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 259,601 shares of company stock worth $15,406,701. Insiders own 1.50% of the company’s stock.
Masco Trading Down 1.5 %
NYSE MAS opened at $60.54 on Thursday. Masco Co. has a 1-year low of $42.33 and a 1-year high of $63.85. The company has a current ratio of 1.72, a quick ratio of 1.07 and a debt-to-equity ratio of 420.86. The stock has a 50-day moving average of $56.41 and a 200-day moving average of $53.24. The firm has a market cap of $13.63 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 2.50 and a beta of 1.22.
Masco (NYSE:MAS – Get Free Report) last released its earnings results on Thursday, July 27th. The construction company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.23. The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.08 billion. Masco had a negative return on equity of 403.37% and a net margin of 9.73%. Masco’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.14 EPS. As a group, sell-side analysts forecast that Masco Co. will post 3.6 EPS for the current year.
Masco Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 28th. Shareholders of record on Friday, August 11th will be paid a dividend of $0.285 per share. The ex-dividend date is Thursday, August 10th. This represents a $1.14 annualized dividend and a yield of 1.88%. Masco’s dividend payout ratio is 32.20%.
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.
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