Brown Brothers Harriman & Co. Cuts Holdings in Masco Co. (NYSE:MAS)

Brown Brothers Harriman & Co. lowered its stake in shares of Masco Co. (NYSE:MAS) by 14.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,726 shares of the construction company’s stock after selling 1,144 shares during the period. Brown Brothers Harriman & Co.’s holdings in Masco were worth $448,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of MAS. Norges Bank purchased a new position in shares of Masco in the 4th quarter worth approximately $122,144,000. Intech Investment Management LLC acquired a new position in shares of Masco during the fourth quarter valued at about $975,000. Mitsubishi UFJ Trust & Banking Corp increased its stake in Masco by 14.3% during the 1st 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 in the last quarter. Quantbot Technologies LP purchased a new position in shares of Masco in the first quarter worth $1,903,000. Finally, Manning & Napier Advisors LLC purchased a new position in shares of Masco in the second quarter worth $82,363,000. Institutional investors own 93.91% of the company’s stock.

Insider Activity

In related news, VP Kenneth G. Cole sold 37,814 shares of the firm’s 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 transaction, the vice president now directly owns 36,980 shares of the company’s stock, valued at approximately $2,896,273.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.10% of the company’s stock.

Masco Price Performance

NYSE:MAS opened at $81.25 on Wednesday. The company has a quick ratio of 1.12, a current ratio of 1.76 and a debt-to-equity ratio of 16.18. Masco Co. has a 52 week low of $47.66 and a 52 week high of $82.36. The stock’s 50-day moving average price is $75.59 and its 200-day moving average price is $72.91. The stock has a market capitalization of $17.73 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24.

Masco (NYSE:MAS) last issued its quarterly earnings data on Thursday, July 25th. The construction company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.18 by $0.02. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.10 billion. Masco had a return on equity of 602.39% and a net margin of 11.59%. Masco’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period last year, the company earned $1.19 earnings per share. As a group, equities analysts expect that Masco Co. will post 4.11 EPS for the current fiscal year.

Masco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 2nd were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Friday, August 2nd. Masco’s payout ratio is 28.43%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MAS shares. Royal Bank of Canada upped their target price on Masco from $78.00 to $79.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. BMO Capital Markets increased their price objective on Masco from $75.00 to $78.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. Barclays lifted their target price on Masco from $79.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Jefferies Financial Group increased their price target on shares of Masco from $83.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Citigroup decreased their price objective on shares of Masco from $73.00 to $66.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $77.58.

Masco 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.