Fmr LLC trimmed its holdings in shares of Masco Corp (NYSE:MAS) by 65.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,434,434 shares of the construction company’s stock after selling 8,260,092 shares during the quarter. Fmr LLC owned 1.45% of Masco worth $162,300,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Masco by 103.4% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,655 shares of the construction company’s stock valued at $134,000 after buying an additional 1,858 shares during the last quarter. Acropolis Investment Management LLC bought a new stake in Masco in the third quarter valued at about $146,000. NuWave Investment Management LLC increased its holdings in Masco by 3,600.9% in the third quarter. NuWave Investment Management LLC now owns 4,182 shares of the construction company’s stock valued at $153,000 after buying an additional 4,069 shares during the last quarter. Kovack Advisors Inc. bought a new stake in Masco in the third quarter valued at about $200,000. Finally, Point72 Hong Kong Ltd increased its holdings in Masco by 8,377.3% in the second quarter. Point72 Hong Kong Ltd now owns 5,595 shares of the construction company’s stock valued at $209,000 after buying an additional 5,529 shares during the last quarter. 89.27% of the stock is currently owned by institutional investors and hedge funds.
Shares of MAS stock opened at $30.13 on Friday. The company has a debt-to-equity ratio of 14.35, a current ratio of 1.71 and a quick ratio of 1.13. Masco Corp has a 52 week low of $27.15 and a 52 week high of $46.44. The company has a market capitalization of $9.37 billion, a price-to-earnings ratio of 15.53, a P/E/G ratio of 0.90 and a beta of 1.56.
Masco (NYSE:MAS) last issued its earnings results on Tuesday, October 30th. The construction company reported $0.65 EPS for the quarter, missing the Zacks’ consensus estimate of $0.70 by ($0.05). Masco had a net margin of 7.65% and a return on equity of 409.25%. The company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the previous year, the firm earned $0.50 earnings per share. The business’s revenue was up 8.0% on a year-over-year basis. On average, analysts predict that Masco Corp will post 2.41 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 13th. Shareholders of record on Friday, October 12th were paid a $0.12 dividend. This is an increase from Masco’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date was Thursday, October 11th. Masco’s payout ratio is presently 24.74%.
Several analysts recently weighed in on MAS shares. TheStreet lowered Masco from a “b-” rating to a “c+” rating in a report on Friday, October 26th. Wells Fargo & Co reissued a “buy” rating on shares of Masco in a report on Tuesday, October 30th. Royal Bank of Canada raised Masco from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $37.00 to $38.00 in a report on Monday, December 3rd. Longbow Research lowered Masco from a “buy” rating to a “neutral” rating in a report on Friday, October 12th. Finally, Citigroup lowered their price objective on Masco from $40.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, November 1st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $42.68.
In other news, Director Richard A. Manoogian sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $30.98, for a total transaction of $3,098,000.00. Following the completion of the transaction, the director now directly owns 625,961 shares in the company, valued at $19,392,271.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Richard A. O’reagan sold 12,900 shares of the business’s stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $31.48, for a total value of $406,092.00. Following the transaction, the insider now owns 61,443 shares of the company’s stock, valued at $1,934,225.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 212,900 shares of company stock valued at $6,631,092. 1.20% of the stock is currently owned by insiders.
Masco Company Profile
Masco Corp. engages in the design, manufacture, marketing, and distribution of branded home improvement and building products. It operates through the following business segments: Plumbing Products, Decorative Architectural Products, Cabinetry Products, and Windows & Other Specialty Products. The Plumbing Products segment includes faucets; plumbing fittings and valves; showerheads and hand showers; bathtubs and shower enclosures; toilets; spas, and exercise pools.
Further Reading: Diversification For Individual Investors
Want to see what other hedge funds are holding MAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Masco Corp (NYSE:MAS).
Receive News & Ratings for Masco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Masco and related companies with MarketBeat.com's FREE daily email newsletter.