Great Lakes Advisors LLC Decreases Stock Holdings in Masco Co. (NYSE:MAS)

Great Lakes Advisors LLC reduced its position in Masco Co. (NYSE:MAS) by 9.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 70,116 shares of the construction company’s stock after selling 7,105 shares during the period. Great Lakes Advisors LLC’s holdings in Masco were worth $4,023,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Optiver Holding B.V. purchased a new position in Masco in the first quarter worth $39,000. BI Asset Management Fondsmaeglerselskab A S grew its stake in Masco by 180.7% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,016 shares of the construction company’s stock worth $51,000 after buying an additional 654 shares during the last quarter. Parallel Advisors LLC increased its position in Masco by 22.8% during the 2nd quarter. Parallel Advisors LLC now owns 1,018 shares of the construction company’s stock valued at $58,000 after buying an additional 189 shares in the last quarter. Spire Wealth Management raised its stake in Masco by 56.5% in the first quarter. Spire Wealth Management now owns 1,277 shares of the construction company’s stock valued at $63,000 after buying an additional 461 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in Masco by 42.7% in the second quarter. Allworth Financial LP now owns 1,219 shares of the construction company’s stock worth $70,000 after acquiring an additional 365 shares in the last quarter. Hedge funds and other institutional investors own 91.67% of the company’s stock.

Masco Stock Performance

MAS opened at $60.17 on Tuesday. The firm has a fifty day moving average price of $53.71 and a 200 day moving average price of $55.39. Masco Co. has a 1 year low of $45.74 and a 1 year high of $63.85. The stock has a market cap of $13.51 billion, a P/E ratio of 16.40, a P/E/G ratio of 3.60 and a beta of 1.20. The company has a debt-to-equity ratio of 19.91, a current ratio of 1.78 and a quick ratio of 1.15.

Masco (NYSE:MAS) last released its quarterly earnings data on Thursday, October 26th. The construction company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.09. Masco had a net margin of 10.39% and a negative return on equity of 1,363.56%. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter in the previous year, the company earned $0.98 earnings per share. The firm’s revenue for the quarter was down 10.2% on a year-over-year basis. Equities research analysts anticipate that Masco Co. will post 3.73 earnings per share for the current year.

Masco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 27th. Shareholders of record on Friday, November 10th will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, November 9th. Masco’s payout ratio is currently 31.06%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MAS shares. Barclays decreased their price objective on shares of Masco from $74.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, October 12th. Jefferies Financial Group lowered their price objective on shares of Masco from $75.00 to $70.00 in a research note on Thursday, October 12th. Bank of America upped their target price on Masco from $57.00 to $59.00 in a research report on Friday, July 28th. TheStreet cut Masco from a “b” rating to a “c+” rating in a research report on Monday, August 28th. Finally, Argus increased their price objective on Masco from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.36.

Masco Company Profile

Masco Corporation designs, manufactures, and distributes home improvement and building products in North America, Europe, and internationally. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, sinks, toilets, acrylic tubs, shower trays, spas, exercise pools, and fitness systems; brass, copper, and composite plumbing system components; connected water products; thermoplastic solutions, extruded plastic profiles, specialized fabrications, and PEX tubing products; and other non-decorative plumbing products.