OLD National Bancorp IN Lowers Position in Masco Co. (NYSE:MAS)

OLD National Bancorp IN decreased its stake in Masco Co. (NYSE:MAS) by 6.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,763 shares of the construction company’s stock after selling 326 shares during the quarter. OLD National Bancorp IN’s holdings in Masco were worth $400,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Ballentine Partners LLC raised its stake in Masco by 2.5% during the 1st quarter. Ballentine Partners LLC now owns 5,513 shares of the construction company’s stock worth $435,000 after acquiring an additional 137 shares during the period. Riverview Trust Co bought a new stake in shares of Masco during the 1st quarter valued at $43,000. Signet Financial Management LLC lifted its stake in shares of Masco by 1.0% during the 1st quarter. Signet Financial Management LLC now owns 51,683 shares of the construction company’s stock valued at $4,077,000 after buying an additional 517 shares in the last quarter. Grimes & Company Inc. bought a new position in Masco in the 1st quarter worth $201,000. Finally, Vicus Capital increased its stake in Masco by 62.3% in the 1st quarter. Vicus Capital now owns 6,921 shares of the construction company’s stock worth $546,000 after buying an additional 2,656 shares in the last quarter. Institutional investors own 93.91% of the company’s stock.

Analyst Ratings Changes

MAS has been the subject of a number of recent analyst reports. Robert W. Baird upped their price objective on Masco from $88.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday. Wells Fargo & Company upped their price target on Masco from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. BMO Capital Markets increased their price objective on shares of Masco from $78.00 to $85.00 and gave the company a “market perform” rating in a report on Tuesday. Barclays boosted their target price on shares of Masco from $88.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Finally, Royal Bank of Canada raised 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, July 26th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $81.75.

Masco Trading Down 2.4 %

MAS opened at $82.20 on Wednesday. Masco Co. has a 12 month low of $47.66 and a 12 month high of $86.70. The company has a current ratio of 1.76, a quick ratio of 1.12 and a debt-to-equity ratio of 16.18. The stock has a 50-day moving average of $80.81 and a 200 day moving average of $74.13. The firm has a market cap of $18.10 billion, a P/E ratio of 20.15, a P/E/G ratio of 2.64 and a beta of 1.24.

Masco (NYSE:MAS) last announced its earnings results on Thursday, July 25th. The construction company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.02. Masco had a return on equity of 602.39% and a net margin of 11.59%. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter in the previous year, the business earned $1.19 EPS. The company’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, research analysts forecast that Masco Co. will post 4.11 EPS for the current year.

Masco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 2nd were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend was Friday, August 2nd. Masco’s dividend payout ratio is currently 28.43%.

Insider Transactions at Masco

In related news, VP Kenneth G. Cole sold 37,814 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $78.32, for a total value of $2,961,592.48. Following the sale, the vice president now directly owns 36,980 shares of the company’s stock, valued at $2,896,273.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.10% of the company’s stock.

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.