Texas Permanent School Fund Reduces Position in Masco Corp (MAS)

Texas Permanent School Fund lowered its position in shares of Masco Corp (NYSE:MAS) by 8.9% during the third quarter, HoldingsChannel.com reports. The fund owned 69,025 shares of the construction company’s stock after selling 6,743 shares during the quarter. Texas Permanent School Fund’s holdings in Masco were worth $2,526,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MAS. Acropolis Investment Management LLC acquired a new stake in shares of Masco during the third quarter valued at approximately $146,000. Kovack Advisors Inc. acquired a new stake in shares of Masco during the third quarter valued at approximately $200,000. Capital Investment Advisors LLC acquired a new stake in shares of Masco during the second quarter valued at approximately $202,000. Atria Investments LLC acquired a new stake in shares of Masco during the third quarter valued at approximately $207,000. Finally, Point72 Hong Kong Ltd raised its holdings in shares of Masco by 8,377.3% during the second quarter. Point72 Hong Kong Ltd now owns 5,595 shares of the construction company’s stock valued at $209,000 after acquiring an additional 5,529 shares during the period. Institutional investors and hedge funds own 89.61% of the company’s stock.

MAS stock opened at $31.32 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.71 and a debt-to-equity ratio of 14.35. The company has a market capitalization of $9.57 billion, a price-to-earnings ratio of 16.14, a price-to-earnings-growth ratio of 0.92 and a beta of 1.56. Masco Corp has a 12 month low of $27.15 and a 12 month high of $46.44.

Masco (NYSE:MAS) last posted its earnings results on Tuesday, October 30th. The construction company reported $0.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by ($0.05). The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.17 billion. Masco had a return on equity of 409.25% and a net margin of 7.65%. The business’s revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.50 earnings per share. On average, equities research analysts predict that Masco Corp will post 2.41 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 13th. Shareholders of record on Friday, October 12th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.53%. This is an increase from Masco’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Thursday, October 11th. Masco’s payout ratio is currently 24.74%.

A number of research analysts recently commented on the stock. ValuEngine downgraded shares of Masco from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 18th. Deutsche Bank lowered their price objective on shares of Masco from $48.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday. Citigroup boosted their price objective on shares of Masco from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, July 23rd. Jefferies Financial Group reaffirmed a “buy” rating and set a $48.00 price objective on shares of Masco in a research report on Wednesday, October 31st. Finally, Argus set a $43.00 price objective on shares of Masco and gave the company a “buy” rating in a research report on Wednesday, October 31st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $42.95.

In other Masco news, CFO John G. Sznewajs sold 96,869 shares of the business’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $38.95, for a total value of $3,773,047.55. Following the completion of the sale, the chief financial officer now directly owns 237,578 shares of the company’s stock, valued at $9,253,663.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.

Masco Company Profile

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.

See Also: Cash Flow

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Institutional Ownership by Quarter for Masco (NYSE:MAS)

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