Masco Co. (NYSE:MAS) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp lessened its position in Masco Co. (NYSE:MAS) by 6.9% in the 1st quarter, Holdings Channel reports. The fund owned 43,380 shares of the construction company’s stock after selling 3,217 shares during the period. Fifth Third Bancorp’s holdings in Masco were worth $3,017,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in MAS. Empowered Funds LLC lifted its stake in shares of Masco by 9.9% in the 4th quarter. Empowered Funds LLC now owns 29,041 shares of the construction company’s stock worth $2,108,000 after acquiring an additional 2,626 shares during the period. V Square Quantitative Management LLC lifted its stake in shares of Masco by 8.9% in the 4th quarter. V Square Quantitative Management LLC now owns 5,647 shares of the construction company’s stock worth $410,000 after acquiring an additional 462 shares during the period. Principal Securities Inc. lifted its stake in shares of Masco by 20.5% in the 4th quarter. Principal Securities Inc. now owns 11,337 shares of the construction company’s stock worth $823,000 after acquiring an additional 1,931 shares during the period. Allworth Financial LP lifted its stake in shares of Masco by 17.3% in the 4th quarter. Allworth Financial LP now owns 901 shares of the construction company’s stock worth $71,000 after acquiring an additional 133 shares during the period. Finally, CIBC Asset Management Inc lifted its stake in shares of Masco by 3.9% in the 4th quarter. CIBC Asset Management Inc now owns 34,037 shares of the construction company’s stock worth $2,470,000 after acquiring an additional 1,272 shares during the period. Institutional investors and hedge funds own 93.91% of the company’s stock.

Masco Price Performance

Masco stock opened at $61.83 on Friday. Masco Co. has a 12-month low of $56.55 and a 12-month high of $86.70. The stock has a market capitalization of $13.04 billion, a P/E ratio of 16.44, a P/E/G ratio of 1.94 and a beta of 1.19. The firm’s 50-day moving average is $62.70 and its two-hundred day moving average is $70.60. The company has a debt-to-equity ratio of 20.74, a current ratio of 1.75 and a quick ratio of 1.15.

Masco (NYSE:MAS) last released its quarterly earnings results on Wednesday, April 23rd. The construction company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.05). Masco had a return on equity of 838.32% and a net margin of 10.50%. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the business earned $0.93 earnings per share. Masco’s revenue for the quarter was down 6.5% on a year-over-year basis. Equities analysts predict that Masco Co. will post 4.34 earnings per share for the current year.

Masco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Friday, May 23rd were paid a dividend of $0.31 per share. The ex-dividend date was Friday, May 23rd. This represents a $1.24 annualized dividend and a dividend yield of 2.01%. Masco’s dividend payout ratio is currently 33.88%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Robert W. Baird cut their price target on shares of Masco from $72.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. UBS Group reiterated a “buy” rating and issued a $80.00 price target (down previously from $91.00) on shares of Masco in a report on Thursday, April 24th. The Goldman Sachs Group cut their price target on shares of Masco from $82.00 to $73.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Wall Street Zen downgraded shares of Masco from a “hold” rating to a “sell” rating in a report on Friday, June 6th. Finally, Jefferies Financial Group cut their price target on shares of Masco from $64.00 to $62.00 and set a “hold” rating for the company in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $73.63.

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.