Wellington Management Group LLP Lowers Position in Masco Corp (NYSE:MAS)

Wellington Management Group LLP trimmed its stake in Masco Corp (NYSE:MAS) by 25.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,276 shares of the construction company’s stock after selling 2,199 shares during the quarter. Wellington Management Group LLP’s holdings in Masco were worth $217,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its stake in Masco by 234.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 16,382,228 shares of the construction company’s stock worth $566,334,000 after buying an additional 11,489,012 shares during the period. Norges Bank purchased a new stake in Masco during the fourth quarter worth approximately $156,765,000. Schroder Investment Management Group grew its stake in Masco by 296.9% during the fourth quarter. Schroder Investment Management Group now owns 1,056,569 shares of the construction company’s stock worth $50,705,000 after buying an additional 790,367 shares during the period. JPMorgan Chase & Co. grew its stake in Masco by 38.8% during the first quarter. JPMorgan Chase & Co. now owns 2,635,143 shares of the construction company’s stock worth $91,098,000 after buying an additional 736,125 shares during the period. Finally, Capital Research Global Investors grew its stake in Masco by 6.0% during the fourth quarter. Capital Research Global Investors now owns 11,046,488 shares of the construction company’s stock worth $530,121,000 after buying an additional 624,851 shares during the period. Hedge funds and other institutional investors own 93.14% of the company’s stock.

NYSE:MAS opened at $48.88 on Wednesday. The company has a market capitalization of $12.74 billion, a price-to-earnings ratio of 10.25, a price-to-earnings-growth ratio of 2.10 and a beta of 1.48. Masco Corp has a one year low of $27.04 and a one year high of $50.48. The stock has a 50-day simple moving average of $46.47 and a 200 day simple moving average of $44.00. The company has a debt-to-equity ratio of 120.48, a quick ratio of 1.32 and a current ratio of 1.83.

Masco (NYSE:MAS) last posted its quarterly earnings results on Wednesday, April 29th. The construction company reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.10. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.51 billion. Masco had a negative return on equity of 2,296.06% and a net margin of 18.13%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the firm earned $0.44 earnings per share. On average, equities research analysts forecast that Masco Corp will post 2.25 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Friday, July 10th will be paid a $0.135 dividend. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $0.54 dividend on an annualized basis and a yield of 1.10%. Masco’s payout ratio is currently 24.00%.

Several research firms have issued reports on MAS. Nomura Securities boosted their price objective on shares of Masco from $38.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. Barclays restated a “buy” rating and issued a $46.00 target price on shares of Masco in a research note on Thursday, April 30th. KeyCorp upped their target price on shares of Masco from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, June 17th. Loop Capital upgraded shares of Masco from a “hold” rating to a “buy” rating and decreased their target price for the company from $49.00 to $41.00 in a research note on Tuesday, April 7th. Finally, Royal Bank of Canada upped their target price on shares of Masco from $40.00 to $51.00 in a research note on Wednesday, June 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the stock. Masco has a consensus rating of “Buy” and an average target price of $50.57.

In other news, CAO John P. Lindow sold 1,246 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $50.00, for a total transaction of $62,300.00. Following the completion of the transaction, the chief accounting officer now directly owns 22,712 shares in the company, valued at $1,135,600. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Richard A. O’reagan sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $39.96, for a total value of $479,520.00. Following the transaction, the insider now owns 43,553 shares of the company’s stock, valued at $1,740,377.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,920 shares of company stock valued at $819,846. 1.23% of the stock is currently owned by insiders.

Masco Profile

Masco Corporation designs, manufactures, and distributes home improvement and building products worldwide. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, toilets, acrylic tubs, shower trays, spas, exercise pools, fitness systems, and other non-decorative plumbing products; brass, copper, and composite plumbing system components; and thermoplastic extrusions, extruded plastic profiles, and specialized fabrications.

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Institutional Ownership by Quarter for Masco (NYSE:MAS)

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