The Manufacturers Life Insurance Company lessened its position in Masco Corp (NYSE:MAS) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 311,103 shares of the construction company’s stock after selling 3,985 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Masco were worth $13,670,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. Boys Arnold & Co. Inc. grew its holdings in Masco by 7.6% in the 4th quarter. Boys Arnold & Co. Inc. now owns 18,068 shares of the construction company’s stock worth $794,000 after acquiring an additional 1,275 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in Masco by 2.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 62,808 shares of the construction company’s stock worth $2,460,000 after acquiring an additional 1,300 shares during the last quarter. Westpac Banking Corp grew its holdings in Masco by 7.3% in the 4th quarter. Westpac Banking Corp now owns 20,060 shares of the construction company’s stock worth $881,000 after acquiring an additional 1,364 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Masco by 15.1% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 11,820 shares of the construction company’s stock worth $461,000 after acquiring an additional 1,551 shares during the last quarter. Finally, Independent Advisor Alliance grew its holdings in Masco by 16.4% in the 3rd quarter. Independent Advisor Alliance now owns 12,912 shares of the construction company’s stock worth $503,000 after acquiring an additional 1,821 shares during the last quarter. 87.79% of the stock is currently owned by institutional investors and hedge funds.
Shares of Masco Corp (MAS) opened at $41.50 on Wednesday. Masco Corp has a 52 week low of $32.97 and a 52 week high of $46.44. The company has a debt-to-equity ratio of 16.87, a quick ratio of 1.49 and a current ratio of 1.97. The company has a market cap of $13,435.09, a PE ratio of 25.39, a P/E/G ratio of 1.07 and a beta of 1.49.
The company also recently announced a quarterly dividend, which was paid on Monday, February 12th. Shareholders of record on Friday, January 12th were issued a $0.105 dividend. The ex-dividend date was Thursday, January 11th. This represents a $0.42 annualized dividend and a yield of 1.01%. Masco’s dividend payout ratio (DPR) is presently 25.45%.
A number of equities research analysts have issued reports on MAS shares. Zacks Investment Research lowered shares of Masco from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. JPMorgan Chase & Co. lowered shares of Masco from an “overweight” rating to a “neutral” rating in a research note on Friday, January 5th. Credit Suisse Group reaffirmed a “neutral” rating and set a $46.00 target price (up previously from $36.00) on shares of Masco in a research note on Monday, January 22nd. They noted that the move was a valuation call. Royal Bank of Canada set a $46.00 target price on shares of Masco and gave the company a “buy” rating in a research note on Friday, February 9th. Finally, Deutsche Bank lifted their target price on shares of Masco from $39.00 to $43.00 and gave the company a “hold” rating in a research note on Tuesday. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Masco presently has an average rating of “Buy” and a consensus price target of $44.60.
In other Masco news, VP Renee Straber sold 2,574 shares of Masco stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $42.55, for a total value of $109,523.70. Following the completion of the transaction, the vice president now directly owns 65,423 shares of the company’s stock, valued at $2,783,748.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard A. Manoogian sold 82,701 shares of Masco stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $42.89, for a total transaction of $3,547,045.89. Following the completion of the transaction, the director now directly owns 692,102 shares of the company’s stock, valued at $29,684,254.78. The disclosure for this sale can be found here. Insiders sold 95,478 shares of company stock valued at $4,094,788 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.
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Masco Company Profile
Masco Corporation designs, manufactures, markets and distributes branded home improvement and building products. The Company operates through four business segments: Plumbing Products, Decorative Architectural Products, Cabinetry Products, and Windows and Other Specialty Products. The Company’s portfolio of brands includes BEHR paint; DELTA and HANSGROHE faucets, bath and shower fixtures; KRAFTMAID and MERILLAT cabinets; MILGARD windows and doors, and HOT SPRING spas.
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