Kentucky Retirement Systems Insurance Trust Fund Cuts Stake in Masco Co. (NYSE:MAS)

Kentucky Retirement Systems Insurance Trust Fund decreased its stake in shares of Masco Co. (NYSE:MAS) by 9.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,252 shares of the construction company’s stock after selling 746 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Masco were worth $572,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Jackson Creek Investment Advisors LLC acquired a new stake in Masco during the 4th quarter valued at $627,000. Norges Bank acquired a new stake in shares of Masco during the fourth quarter valued at about $122,144,000. Intech Investment Management LLC purchased a new stake in shares of Masco during the fourth quarter worth about $975,000. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Masco by 14.3% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 542,096 shares of the construction company’s stock valued at $42,245,000 after purchasing an additional 67,806 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Masco during the 1st quarter valued at approximately $1,903,000. Institutional investors and hedge funds own 93.91% of the company’s stock.

Masco Stock Performance

Shares of Masco stock traded up $1.61 during trading on Friday, hitting $77.45. 3,007,947 shares of the stock were exchanged, compared to its average volume of 2,164,413. The company has a debt-to-equity ratio of 16.18, a quick ratio of 1.09 and a current ratio of 1.76. Masco Co. has a 12 month low of $47.66 and a 12 month high of $78.94. The stock’s fifty day moving average is $68.78 and its 200 day moving average is $71.30. The stock has a market cap of $17.06 billion, a PE ratio of 18.98, a P/E/G ratio of 2.33 and a beta of 1.24.

Masco (NYSE:MAS) last posted its earnings results on Thursday, July 25th. The construction company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.18 by $0.02. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.10 billion. Masco had a net margin of 11.59% and a return on equity of 602.39%. Masco’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.19 EPS. As a group, sell-side analysts anticipate that Masco Co. will post 4.08 EPS for the current year.

Masco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 19th. Stockholders of record on Friday, August 2nd will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, August 2nd. This represents a $1.16 annualized dividend and a dividend yield of 1.50%. Masco’s dividend payout ratio (DPR) is 28.43%.

Analyst Ratings Changes

A number of analysts have recently weighed in on MAS shares. Loop Capital decreased their price target on shares of Masco from $79.00 to $76.00 and set a “hold” rating for the company in a research report on Thursday, April 25th. Royal Bank of Canada upped their target price on shares of Masco from $78.00 to $79.00 and gave the company an “outperform” rating in a research note on Friday. Barclays lifted their price target on Masco from $79.00 to $88.00 and gave the stock an “overweight” rating in a research note on Friday. Citigroup cut their price objective on Masco from $73.00 to $66.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Finally, Robert W. Baird lifted their target price on Masco from $84.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $74.57.

About Masco

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.