New York State Common Retirement Fund reduced its position in Masco Corp (NYSE:MAS) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 715,458 shares of the construction company’s stock after selling 19,324 shares during the quarter. New York State Common Retirement Fund owned about 0.25% of Masco worth $34,335,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. NuWave Investment Management LLC increased its holdings in Masco by 59,900.0% in the 4th quarter. NuWave Investment Management LLC now owns 600 shares of the construction company’s stock valued at $29,000 after buying an additional 599 shares during the period. Usca Ria LLC bought a new position in Masco in the 3rd quarter valued at about $32,000. TRUE Private Wealth Advisors acquired a new stake in shares of Masco in the 4th quarter valued at approximately $37,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Masco in the 3rd quarter valued at approximately $42,000. Finally, Whittier Trust Co. boosted its stake in shares of Masco by 232.8% in the 4th quarter. Whittier Trust Co. now owns 1,115 shares of the construction company’s stock valued at $54,000 after purchasing an additional 780 shares in the last quarter. 91.34% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:MAS opened at $45.61 on Friday. The firm’s 50 day simple moving average is $48.19 and its 200 day simple moving average is $44.53. The company has a debt-to-equity ratio of 120.48, a current ratio of 1.75 and a quick ratio of 0.98. Masco Corp has a one year low of $34.79 and a one year high of $50.06. The company has a market cap of $12.91 billion, a PE ratio of 18.30, a P/E/G ratio of 1.87 and a beta of 1.44.
The firm also recently announced a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Friday, January 10th were given a dividend of $0.135 per share. The ex-dividend date was Thursday, January 9th. This represents a $0.54 annualized dividend and a yield of 1.18%. Masco’s dividend payout ratio is presently 24.00%.
In related news, insider Joseph B. Gross sold 25,328 shares of Masco stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $46.85, for a total transaction of $1,186,616.80. Following the sale, the insider now directly owns 61,742 shares in the company, valued at approximately $2,892,612.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard A. Manoogian sold 123,138 shares of Masco stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $45.83, for a total transaction of $5,643,414.54. Following the sale, the director now owns 506,513 shares in the company, valued at $23,213,490.79. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 353,714 shares of company stock worth $16,632,204. 1.17% of the stock is owned by corporate insiders.
A number of equities research analysts have recently weighed in on the stock. Zelman & Associates downgraded shares of Masco from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. They noted that the move was a valuation call. Goldman Sachs Group assumed coverage on shares of Masco in a research note on Friday, December 6th. They issued a “buy” rating and a $55.00 price target on the stock. Argus restated a “reduce” rating and issued a $54.00 price target on shares of Masco in a research note on Tuesday, January 28th. Atlantic Securities assumed coverage on shares of Masco in a research note on Monday, December 16th. They issued an “overweight” rating and a $60.00 price target on the stock. Finally, TheStreet upgraded shares of Masco from a “c+” rating to a “b-” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $50.19.
Masco Company Profile
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.
See Also: Cost of Goods Sold (COGS)
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