Renaissance Investment Group LLC Decreases Stock Holdings in Masco Co. (NYSE:MAS)

Renaissance Investment Group LLC lessened its holdings in Masco Co. (NYSE:MAS – Get Rating) by 12.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 6,976 shares of the construction company’s stock after selling 975 shares during the quarter. Renaissance Investment Group LLC’s holdings in Masco were worth $326,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tobam increased its holdings in Masco by 141.7% in the 3rd quarter. Tobam now owns 1,141 shares of the construction company’s stock valued at $53,000 after purchasing an additional 669 shares in the last quarter. Standard Family Office LLC acquired a new stake in shares of Masco in the third quarter valued at about $53,000. Riverview Trust Co raised its holdings in shares of Masco by 23.0% during the 3rd quarter. Riverview Trust Co now owns 1,197 shares of the construction company’s stock valued at $56,000 after buying an additional 224 shares during the period. Neo Ivy Capital Management purchased a new position in Masco in the 3rd quarter worth approximately $80,000. Finally, Old North State Trust LLC acquired a new stake in Masco in the third quarter valued at approximately $91,000. Institutional investors and hedge funds own 91.50% of the company’s stock.

Insider Activity at Masco

In related news, CEO Keith J. Allman sold 14,177 shares of the company’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $51.40, for a total transaction of $728,697.80. Following the sale, the chief executive officer now directly owns 258,085 shares of the company’s stock, valued at approximately $13,265,569. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Masco news, CFO John G. Sznewajs sold 55,170 shares of the stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $56.19, for a total value of $3,100,002.30. Following the sale, the chief financial officer now directly owns 194,044 shares of the company’s stock, valued at $10,903,332.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Keith J. Allman sold 14,177 shares of the stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $51.40, for a total value of $728,697.80. Following the completion of the sale, the chief executive officer now directly owns 258,085 shares in the company, valued at $13,265,569. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 326,404 shares of company stock valued at $17,951,341. Corporate insiders own 1.20% of the company’s stock.

Masco Stock Down 2.2 %

Shares of Masco stock traded down $1.12 on Friday, hitting $49.32. 3,064,059 shares of the company’s stock traded hands, compared to its average volume of 1,721,313. The stock has a market cap of $11.11 billion, a P/E ratio of 13.55, a PEG ratio of 3.13 and a beta of 1.19. Masco Co. has a 52-week low of $42.33 and a 52-week high of $58.18. The firm’s 50-day moving average is $52.38 and its 200 day moving average is $49.80.

Masco (NYSE:MAS – Get Rating) last posted its quarterly earnings results on Thursday, February 9th. The construction company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.93 billion. Masco had a net margin of 9.72% and a negative return on equity of 250.36%. The business’s revenue was down 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.67 earnings per share. Equities research analysts forecast that Masco Co. will post 3.29 EPS for the current year.

Masco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 13th. Investors of record on Thursday, February 23rd were given a dividend of $0.285 per share. This is a positive change from Masco’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend was Wednesday, February 22nd. Masco’s dividend payout ratio is currently 31.32%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Robert W. Baird upped their target price on shares of Masco from $59.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, February 10th. Royal Bank of Canada raised shares of Masco from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $49.00 to $57.00 in a research report on Friday, February 10th. StockNews.com began coverage on Masco in a research report on Thursday. They set a “hold” rating on the stock. Barclays increased their price target on Masco from $58.00 to $61.00 in a report on Wednesday, December 14th. Finally, The Goldman Sachs Group cut their target price on Masco to $57.00 in a research report on Monday, November 21st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $57.64.

Masco Profile

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Masco Corp. engages in the business of designing, manufacturing, and distribution of branded home improvement and building products. It operates under the Plumbing Products and Decorative Architectural Products segments. The Plumbing Products segment includes faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, shower drains, steam shower systems, sinks, kitchen accessories, and toilets.