DNB Asset Management AS trimmed its position in shares of Masco Corp (NYSE:MAS) by 4.4% during the first quarter, HoldingsChannel.com reports. The fund owned 58,782 shares of the construction company’s stock after selling 2,692 shares during the quarter. DNB Asset Management AS’s holdings in Masco were worth $2,311,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Masco by 16.1% during the fourth quarter. BlackRock Inc. now owns 25,729,104 shares of the construction company’s stock worth $752,319,000 after acquiring an additional 3,573,503 shares during the period. APG Asset Management N.V. grew its position in Masco by 1.8% during the fourth quarter. APG Asset Management N.V. now owns 7,647,312 shares of the construction company’s stock worth $195,606,000 after buying an additional 133,600 shares during the period. Iridian Asset Management LLC CT grew its position in Masco by 16.7% during the fourth quarter. Iridian Asset Management LLC CT now owns 5,717,510 shares of the construction company’s stock worth $167,180,000 after buying an additional 816,091 shares during the period. Two Sigma Advisers LP grew its position in Masco by 65.3% during the fourth quarter. Two Sigma Advisers LP now owns 4,736,205 shares of the construction company’s stock worth $138,487,000 after buying an additional 1,871,100 shares during the period. Finally, Two Sigma Investments LP grew its position in Masco by 91.3% during the fourth quarter. Two Sigma Investments LP now owns 4,293,665 shares of the construction company’s stock worth $125,547,000 after buying an additional 2,049,065 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.
Shares of MAS opened at $40.47 on Wednesday. The company has a current ratio of 1.64, a quick ratio of 1.08 and a debt-to-equity ratio of 43.06. The company has a market cap of $11.93 billion, a P/E ratio of 16.19, a PEG ratio of 1.46 and a beta of 1.46. Masco Corp has a 1 year low of $27.03 and a 1 year high of $41.76.
Masco (NYSE:MAS) last announced its quarterly earnings data on Thursday, February 7th. The construction company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.08. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.01 billion. Masco had a net margin of 8.78% and a return on equity of 520.34%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.44 earnings per share. On average, equities analysts predict that Masco Corp will post 2.69 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Friday, April 12th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Thursday, April 11th. Masco’s dividend payout ratio is currently 19.20%.
MAS has been the topic of several recent analyst reports. Credit Suisse Group set a $34.00 target price on shares of Masco and gave the stock a “hold” rating in a research report on Friday, January 11th. SunTrust Banks upped their price target on shares of Masco to $52.00 and gave the company a “buy” rating in a report on Thursday, March 14th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Masco from a “buy” rating to a “sell” rating in a report on Wednesday, January 9th. Bank of America raised shares of Masco from a “neutral” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Friday, January 4th. Finally, Royal Bank of Canada set a $39.00 price target on shares of Masco and gave the company a “buy” rating in a report on Friday, February 8th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $42.90.
In other Masco news, VP Kenneth G. Cole sold 23,161 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $40.03, for a total transaction of $927,134.83. Following the transaction, the vice president now owns 96,843 shares of the company’s stock, valued at $3,876,625.29. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP John P. Lindow sold 37,795 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $39.07, for a total transaction of $1,476,650.65. Following the transaction, the vice president now directly owns 60,454 shares in the company, valued at approximately $2,361,937.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 298,940 shares of company stock worth $11,890,269. 1.17% of the stock is currently owned by insiders.
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Masco Corporation designs, manufactures, and distributes home improvement and building products worldwide. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, toilets, acrylic tubs, shower trays, spas, exercise pools, fitness systems, and other non-decorative plumbing products; brass, copper, and composite plumbing system components; and thermoplastic extrusions, extruded plastic profiles, and specialized fabrications.
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