UBS Asset Management Americas Inc. cut its stake in shares of Masco Corp (NYSE:MAS) by 7.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,510,599 shares of the construction company’s stock after selling 214,586 shares during the period. UBS Asset Management Americas Inc.’s holdings in Masco were worth $110,316,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Cubist Systematic Strategies LLC lifted its holdings in shares of Masco by 56.7% during the third quarter. Cubist Systematic Strategies LLC now owns 34,969 shares of the construction company’s stock valued at $1,364,000 after acquiring an additional 12,649 shares during the period. Prudential Financial Inc. lifted its holdings in shares of Masco by 2.3% during the third quarter. Prudential Financial Inc. now owns 497,210 shares of the construction company’s stock valued at $19,396,000 after acquiring an additional 11,362 shares during the period. Palladium Partners LLC lifted its holdings in shares of Masco by 1.1% during the third quarter. Palladium Partners LLC now owns 295,921 shares of the construction company’s stock valued at $11,544,000 after acquiring an additional 3,250 shares during the period. Parametric Portfolio Associates LLC lifted its holdings in shares of Masco by 5.8% during the third quarter. Parametric Portfolio Associates LLC now owns 736,811 shares of the construction company’s stock valued at $28,743,000 after acquiring an additional 40,248 shares during the period. Finally, Parsons Capital Management Inc. RI bought a new position in shares of Masco during the fourth quarter valued at $204,000. 87.79% of the stock is owned by institutional investors.
Shares of Masco Corp (MAS) opened at $42.52 on Wednesday. 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 company has a market capitalization of $13,380.00, a PE ratio of 25.61, a P/E/G ratio of 1.08 and a beta of 1.49. Masco Corp has a 12-month low of $32.97 and a 12-month high of $46.44.
Masco (NYSE:MAS) last announced its quarterly earnings data on Thursday, February 8th. The construction company reported $0.44 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.01. The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.84 billion. Masco had a return on equity of 1,000.81% and a net margin of 6.97%. The company’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the company earned $0.33 earnings per share. analysts anticipate that Masco Corp will post 2.57 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, February 12th. Investors of record on Friday, January 12th were given a $0.105 dividend. The ex-dividend date was Thursday, January 11th. This represents a $0.42 dividend on an annualized basis and a yield of 0.99%. Masco’s payout ratio is 25.30%.
A number of brokerages have issued reports on MAS. Wells Fargo & Co cut Masco from an “outperform” rating to a “market perform” rating and set a $44.00 price objective for the company. in a report on Wednesday, October 25th. Credit Suisse Group restated a “neutral” rating and issued a $46.00 target price (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. JPMorgan Chase & Co. lowered Masco from an “overweight” rating to a “neutral” rating in a research note on Friday, January 5th. Nomura set a $45.00 target price on Masco and gave the company a “buy” rating in a research note on Wednesday, October 25th. Finally, Raymond James Financial restated a “market perform” rating on shares of Masco in a research note on Wednesday, October 25th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $44.07.
In related news, VP Renee Straber sold 2,574 shares of Masco stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $42.55, for a total value of $109,523.70. Following the completion of the sale, the vice president now directly owns 65,423 shares in the company, valued at $2,783,748.65. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.30% of the stock is owned by company insiders.
Masco Corporation designs, manufactures, markets and distributes branded home improvement and building products. The Company operates through four business segments: Plumbing Products, Decorative Architectural Products, Cabinetry Products, and Windows and Other Specialty Products. The Company’s portfolio of brands includes BEHR paint; DELTA and HANSGROHE faucets, bath and shower fixtures; KRAFTMAID and MERILLAT cabinets; MILGARD windows and doors, and HOT SPRING spas.
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