Citigroup Inc. Cuts Stock Position in Masco Co. (NYSE:MAS)

Citigroup Inc. trimmed its position in shares of Masco Co. (NYSE:MAS) by 11.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 319,351 shares of the construction company’s stock after selling 40,097 shares during the period. Citigroup Inc. owned about 0.15% of Masco worth $26,806,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its stake in shares of Masco by 1.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 9,830,723 shares of the construction company’s stock worth $655,414,000 after acquiring an additional 181,515 shares in the last quarter. Van ECK Associates Corp raised its position in Masco by 0.9% in the 3rd quarter. Van ECK Associates Corp now owns 2,950,880 shares of the construction company’s stock worth $241,825,000 after purchasing an additional 26,259 shares during the period. Impax Asset Management Group plc lifted its stake in Masco by 10.0% in the second quarter. Impax Asset Management Group plc now owns 2,855,056 shares of the construction company’s stock worth $190,347,000 after purchasing an additional 259,205 shares during the last quarter. Acadian Asset Management LLC boosted its position in Masco by 66.5% during the second quarter. Acadian Asset Management LLC now owns 1,823,934 shares of the construction company’s stock valued at $121,581,000 after buying an additional 728,690 shares during the period. Finally, Ensign Peak Advisors Inc grew its stake in shares of Masco by 15.7% during the second quarter. Ensign Peak Advisors Inc now owns 1,758,889 shares of the construction company’s stock valued at $117,265,000 after buying an additional 238,512 shares during the last quarter. Institutional investors own 93.91% of the company’s stock.

Insider Buying and Selling

In other news, VP Kenneth G. Cole sold 37,814 shares of Masco stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $78.32, for a total transaction of $2,961,592.48. Following the completion of the transaction, the vice president now directly owns 36,980 shares in the company, valued at approximately $2,896,273.60. This trade represents a 50.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by insiders.

Masco Stock Performance

Masco stock opened at $82.16 on Tuesday. Masco Co. has a fifty-two week low of $58.91 and a fifty-two week high of $86.70. The stock has a market cap of $17.73 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 2.56 and a beta of 1.24. The stock’s 50 day simple moving average is $81.78 and its two-hundred day simple moving average is $75.57. The company has a debt-to-equity ratio of 20.74, a quick ratio of 1.21 and a current ratio of 1.83.

Masco (NYSE:MAS) last issued its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.08 earnings per share for the quarter, hitting the consensus estimate of $1.08. The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $2 billion. Masco had a return on equity of 615.54% and a net margin of 10.54%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.00 earnings per share. As a group, analysts expect that Masco Co. will post 4.09 earnings per share for the current fiscal year.

Masco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Friday, November 8th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.16 dividend on an annualized basis and a yield of 1.41%. Masco’s dividend payout ratio (DPR) is currently 30.85%.

Analyst Ratings Changes

MAS has been the subject of several analyst reports. UBS Group increased their target price on Masco from $89.00 to $94.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. StockNews.com lowered Masco from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Wells Fargo & Company lifted their target price on shares of Masco from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Robert W. Baird dropped their price target on shares of Masco from $95.00 to $94.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Finally, BMO Capital Markets boosted their price objective on shares of Masco from $78.00 to $85.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Masco has an average rating of “Hold” and a consensus price target of $85.96.

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.