State of Alaska Department of Revenue Sells 10,680 Shares of Masco Co. (NYSE:MAS)

State of Alaska Department of Revenue reduced its position in shares of Masco Co. (NYSE:MAS) by 16.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 54,396 shares of the construction company’s stock after selling 10,680 shares during the quarter. State of Alaska Department of Revenue’s holdings in Masco were worth $4,290,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Masco by 1.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 539,398 shares of the construction company’s stock worth $42,548,000 after purchasing an additional 7,064 shares in the last quarter. LVW Advisors LLC raised its holdings in Masco by 93.8% in the 1st quarter. LVW Advisors LLC now owns 13,721 shares of the construction company’s stock worth $1,082,000 after purchasing an additional 6,640 shares in the last quarter. Foguth Wealth Management LLC. bought a new position in Masco in the 1st quarter worth $524,000. Vicus Capital raised its holdings 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 purchasing an additional 2,656 shares in the last quarter. Finally, Grimes & Company Inc. bought a new position in Masco in the 1st quarter worth $201,000. 93.91% of the stock is currently owned by institutional investors.

Masco Stock Performance

Shares of MAS stock opened at $64.78 on Friday. Masco Co. has a one year low of $47.66 and a one year high of $78.94. The company’s 50-day moving average is $68.62 and its 200 day moving average is $70.78. The company has a market capitalization of $14.27 billion, a price-to-earnings ratio of 15.88, a price-to-earnings-growth ratio of 1.70 and a beta of 1.24. The company has a debt-to-equity ratio of 18.76, a quick ratio of 1.09 and a current ratio of 1.74.

Masco (NYSE:MAS) last announced its quarterly earnings data on Wednesday, April 24th. The construction company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.87 by $0.06. Masco had a net margin of 11.60% and a return on equity of 865.37%. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the firm posted $0.87 EPS. Masco’s revenue for the quarter was down 2.7% on a year-over-year basis. Sell-side analysts expect that Masco Co. will post 4.11 EPS for the current fiscal year.

Masco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 24th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date was Thursday, May 23rd. Masco’s payout ratio is presently 28.43%.

Wall Street Analysts Forecast Growth

MAS has been the subject of several research reports. StockNews.com lowered shares of Masco from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Royal Bank of Canada upped their price objective on shares of Masco from $79.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Citigroup increased their price target on shares of Masco from $74.00 to $79.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Evercore ISI decreased their price target on shares of Masco from $75.00 to $74.00 and set an “in-line” rating for the company in a research note on Thursday, April 25th. Finally, 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 note on Thursday, April 25th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Masco has an average rating of “Moderate Buy” and an average price target of $72.15.

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.