Tredje AP fonden Has $2.34 Million Position in Masco Co. (NYSE:MAS)

Tredje AP fonden decreased its position in Masco Co. (NYSE:MAS) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,061 shares of the construction company’s stock after selling 551 shares during the period. Tredje AP fonden’s holdings in Masco were worth $2,338,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MAS. Norges Bank acquired a new stake in shares of Masco during the 4th quarter worth approximately $122,144,000. Manning & Napier Advisors LLC bought a new position in shares of Masco in the 2nd quarter worth $82,363,000. Confluence Investment Management LLC acquired a new stake in shares of Masco during the first quarter worth $78,181,000. Acadian Asset Management LLC grew its stake in shares of Masco by 66.5% during the second quarter. Acadian Asset Management LLC now owns 1,823,934 shares of the construction company’s stock worth $121,581,000 after purchasing an additional 728,690 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Masco by 2.8% in the first quarter. Vanguard Group Inc. now owns 26,300,591 shares of the construction company’s stock valued at $2,074,591,000 after buying an additional 721,117 shares during the period. 93.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Masco

In other news, VP Kenneth G. Cole sold 37,814 shares of the business’s stock in a transaction dated 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 transaction, the vice president now directly owns 36,980 shares in the company, valued at approximately $2,896,273.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Masco Price Performance

Shares of NYSE MAS opened at $83.24 on Friday. The company has a debt-to-equity ratio of 16.18, a current ratio of 1.76 and a quick ratio of 1.12. The business has a 50-day moving average of $76.21 and a 200-day moving average of $73.00. The stock has a market capitalization of $18.33 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 2.45 and a beta of 1.24. Masco Co. has a fifty-two week low of $47.66 and a fifty-two week high of $83.56.

Masco (NYSE:MAS) last posted its quarterly earnings results on Thursday, July 25th. The construction company reported $1.20 earnings per share for the quarter, beating 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 the consensus estimate of $2.10 billion. During the same period last year, the company earned $1.19 earnings per share. The business’s revenue was down 1.7% compared to the same quarter last year. As a group, sell-side analysts predict that Masco Co. will post 4.11 earnings per share for the current fiscal year.

Masco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 2nd were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend was Friday, August 2nd. Masco’s dividend payout ratio (DPR) is currently 28.43%.

Wall Street Analysts Forecast Growth

MAS has been the topic of several research analyst reports. Royal Bank of Canada raised their price objective on Masco from $78.00 to $79.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. BMO Capital Markets raised their target price on shares of Masco from $75.00 to $78.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. Robert W. Baird upped their price target on shares of Masco from $84.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Barclays raised their price objective on shares of Masco from $79.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, Jefferies Financial Group upped their target price on shares of Masco from $83.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Seven 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, Masco currently has an average rating of “Moderate Buy” and an average target price of $77.58.

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.