Teachers Retirement System of The State of Kentucky lowered its position in Masco Corporation (NYSE:MAS – Free Report) by 96.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,817 shares of the construction company’s stock after selling 475,300 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Masco were worth $1,015,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the company. Focus Partners Wealth boosted its holdings in Masco by 2.6% during the first quarter. Focus Partners Wealth now owns 10,414 shares of the construction company’s stock worth $724,000 after purchasing an additional 265 shares during the last quarter. CW Advisors LLC purchased a new stake in Masco in the 2nd quarter valued at about $238,000. Bank of Nova Scotia lifted its position in shares of Masco by 14.8% during the 2nd quarter. Bank of Nova Scotia now owns 25,555 shares of the construction company’s stock worth $1,645,000 after buying an additional 3,294 shares in the last quarter. WINTON GROUP Ltd purchased a new position in shares of Masco in the 2nd quarter worth approximately $415,000. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Masco by 4.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 31,832 shares of the construction company’s stock worth $2,049,000 after buying an additional 1,413 shares during the last quarter. 93.91% of the stock is owned by institutional investors.
Masco Stock Performance
NYSE:MAS opened at $78.03 on Thursday. The company has a market capitalization of $15.74 billion, a P/E ratio of 19.36, a P/E/G ratio of 1.92 and a beta of 1.29. The business has a fifty day simple moving average of $73.14 and a two-hundred day simple moving average of $69.36. The company has a debt-to-equity ratio of 109.07, a current ratio of 1.75 and a quick ratio of 1.11. Masco Corporation has a 1 year low of $58.16 and a 1 year high of $83.21.
Masco declared that its board has authorized a stock repurchase program on Thursday, May 7th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the construction company to buy up to 2.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
Masco Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Friday, May 22nd were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.28 annualized dividend and a yield of 1.6%. Masco’s dividend payout ratio is 31.76%.
Analysts Set New Price Targets
A number of analysts recently commented on MAS shares. Weiss Ratings raised Masco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. UBS Group boosted their price objective on Masco from $96.00 to $97.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Citigroup reduced their price objective on Masco from $84.00 to $79.00 and set a “neutral” rating for the company in a research note on Thursday, April 23rd. The Goldman Sachs Group raised their target price on Masco from $79.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Finally, Wells Fargo & Company boosted their price target on shares of Masco from $85.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday. Eight research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $80.67.
Read Our Latest Analysis on Masco
Masco Profile
Masco Corporation is a global leader in the design, manufacture and distribution of branded home improvement and building products. Founded in 1929 and headquartered in Livonia, Michigan, the company has evolved from a small door‐bell manufacturer into a diversified enterprise serving both residential and commercial markets. Over its history, Masco has grown through a combination of organic innovation and strategic acquisitions, building a portfolio of well-recognized brands.
The company’s product offerings are organized into two primary segments.
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