Welch & Forbes LLC Has $1.43 Million Position in Masco Corp (MAS)

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Welch & Forbes LLC lessened its position in shares of Masco Corp (NYSE:MAS) by 9.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 48,955 shares of the construction company’s stock after selling 5,327 shares during the period. Welch & Forbes LLC’s holdings in Masco were worth $1,431,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Atria Investments LLC bought a new stake in shares of Masco in the third quarter worth $207,000. State of Alaska Department of Revenue grew its stake in shares of Masco by 3.3% in the third quarter. State of Alaska Department of Revenue now owns 64,590 shares of the construction company’s stock worth $2,362,000 after purchasing an additional 2,060 shares during the last quarter. DNB Asset Management AS raised its holdings in shares of Masco by 9.4% during the third quarter. DNB Asset Management AS now owns 63,191 shares of the construction company’s stock valued at $2,313,000 after purchasing an additional 5,422 shares during the period. PGGM Investments raised its holdings in shares of Masco by 0.5% during the third quarter. PGGM Investments now owns 540,903 shares of the construction company’s stock valued at $19,797,000 after purchasing an additional 2,603 shares during the period. Finally, First Hawaiian Bank acquired a new position in shares of Masco during the third quarter valued at about $251,000. 89.02% of the stock is currently owned by institutional investors and hedge funds.

Shares of Masco stock traded up $0.71 on Tuesday, hitting $36.94. 170,428 shares of the company traded hands, compared to its average volume of 4,509,913. The company has a debt-to-equity ratio of 43.06, a quick ratio of 1.08 and a current ratio of 1.64. The stock has a market cap of $11.07 billion, a P/E ratio of 14.71, a price-to-earnings-growth ratio of 1.18 and a beta of 1.44. Masco Corp has a 12-month low of $27.03 and a 12-month high of $43.69.

Masco (NYSE:MAS) last posted its quarterly earnings data on Thursday, February 7th. The construction company reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.08. The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Masco had a net margin of 8.78% and a return on equity of 520.34%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the company posted $0.44 EPS. On average, analysts predict that Masco Corp will post 2.68 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 11th. Stockholders of record on Friday, January 11th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Thursday, January 10th. Masco’s dividend payout ratio (DPR) is currently 19.20%.

MAS has been the topic of several research reports. Credit Suisse Group set a $34.00 price objective on shares of Masco and gave the company a “hold” rating in a report on Friday, January 11th. Zacks Investment Research lowered shares of Masco from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. Jefferies Financial Group reiterated a “buy” rating and set a $48.00 price objective on shares of Masco in a report on Wednesday, October 31st. Citigroup dropped their price objective on shares of Masco from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, November 1st. Finally, Royal Bank of Canada upgraded shares of Masco from a “sector perform” rating to an “outperform” rating and set a $31.69 price objective on the stock in a report on Sunday, December 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eighteen have assigned a buy rating to the stock. Masco presently has a consensus rating of “Buy” and an average target price of $41.65.

In other news, Director Richard A. Manoogian sold 100,000 shares of the firm’s stock in a transaction on Monday, November 19th. The shares were sold at an average price of $30.98, for a total transaction of $3,098,000.00. Following the sale, the director now owns 625,961 shares in the company, valued at approximately $19,392,271.78. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.20% of the company’s stock.

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About Masco

Masco Corporation designs, manufactures, and distributes home improvement and building products worldwide. Its Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower enclosures, toilets, acrylic tubs, shower trays, spas products, exercise pools, brass and copper plumbing system components, and other non-decorative plumbing products.

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Want to see what other hedge funds are holding MAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Masco Corp (NYSE:MAS).

Institutional Ownership by Quarter for Masco (NYSE:MAS)

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