First Trust Advisors LP lowered its holdings in shares of Masco (NYSE:MAS) by 54.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,174 shares of the construction company’s stock after selling 76,454 shares during the period. First Trust Advisors LP’s holdings in Masco were worth $2,864,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. First Personal Financial Services purchased a new position in shares of Masco during the fourth quarter valued at approximately $100,000. Parsons Capital Management Inc. RI purchased a new stake in Masco during the fourth quarter valued at approximately $204,000. Sigma Planning Corp purchased a new stake in Masco during the fourth quarter valued at approximately $205,000. IBM Retirement Fund purchased a new stake in Masco during the fourth quarter valued at approximately $208,000. Finally, Dearborn Partners LLC purchased a new stake in Masco during the fourth quarter valued at approximately $211,000. Hedge funds and other institutional investors own 90.07% of the company’s stock.
MAS has been the subject of a number of research reports. Zacks Investment Research cut shares of Masco from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. JPMorgan Chase cut shares of Masco from an “overweight” rating to a “neutral” rating in a research note on Friday, January 5th. Deutsche Bank raised shares of Masco from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Thursday, March 22nd. Royal Bank of Canada set a $46.00 price objective on shares of Masco and gave the stock a “buy” rating in a research note on Friday, February 9th. Finally, Credit Suisse Group reissued a “neutral” rating and issued a $46.00 price objective (up from $36.00) on shares of Masco in a research note on Monday, January 22nd. They noted that the move was a valuation call. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Masco has a consensus rating of “Buy” and a consensus target price of $44.60.
In related news, Director J Michael Losh sold 5,592 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $42.02, for a total value of $234,975.84. Following the transaction, the director now owns 69,926 shares of the company’s stock, valued at approximately $2,938,290.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lisa A. Payne sold 5,577 shares of the firm’s stock in a transaction dated Thursday, March 22nd. The stock was sold at an average price of $41.85, for a total transaction of $233,397.45. Following the completion of the transaction, the director now directly owns 56,766 shares in the company, valued at approximately $2,375,657.10. The disclosure for this sale can be found here. Insiders sold a total of 109,727 shares of company stock valued at $4,695,460 in the last 90 days. Company insiders own 1.30% of the company’s stock.
MAS stock traded down $0.74 during trading on Friday, hitting $40.19. 3,668,513 shares of the company’s stock traded hands, compared to its average volume of 3,043,686. Masco has a 52 week low of $33.05 and a 52 week high of $46.44. The company has a quick ratio of 1.49, a current ratio of 1.97 and a debt-to-equity ratio of 16.87. The firm has a market capitalization of $12,827.11, a P/E ratio of 20.72, a price-to-earnings-growth ratio of 1.03 and a beta of 1.50.
Masco (NYSE:MAS) last released its quarterly earnings data on Thursday, February 8th. The construction company reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.01. Masco had a net margin of 6.97% and a return on equity of 1,000.81%. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the business earned $0.33 earnings per share. Masco’s quarterly revenue was up 6.5% compared to the same quarter last year. analysts anticipate that Masco will post 2.55 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, May 14th. Stockholders of record on Friday, April 13th will be issued a $0.105 dividend. The ex-dividend date is Thursday, April 12th. This represents a $0.42 annualized dividend and a dividend yield of 1.05%. Masco’s dividend payout ratio (DPR) is presently 21.65%.
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Masco Corporation designs, manufactures, and distributes home improvement and building products worldwide. Its Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower enclosures, toilets, acrylic tubs, shower trays, spas products, exercise pools, brass and copper plumbing system components, and other non-decorative plumbing products.
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