Sequoia Financial Advisors LLC Cuts Stock Holdings in Masco Corporation (NYSE:MAS)

Sequoia Financial Advisors LLC reduced its position in shares of Masco Corporation (NYSE:MAS) by 2.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,929 shares of the construction company’s stock after selling 1,669 shares during the period. Sequoia Financial Advisors LLC’s holdings in Masco were worth $4,446,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MAS. Norges Bank purchased a new stake in Masco during the 4th quarter worth approximately $129,306,000. Wealthquest Corp purchased a new stake in Masco during the 1st quarter worth approximately $111,722,000. GAMMA Investing LLC boosted its holdings in shares of Masco by 11,690.9% during the 1st quarter. GAMMA Investing LLC now owns 911,669 shares of the construction company’s stock worth $63,397,000 after purchasing an additional 903,937 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Masco during the 4th quarter worth approximately $33,157,000. Finally, Freestone Grove Partners LP acquired a new position in shares of Masco during the 4th quarter worth approximately $30,678,000. 93.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on MAS shares. Robert W. Baird lowered their price objective on Masco from $72.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Jefferies Financial Group lowered their price objective on Masco from $64.00 to $62.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd. Wells Fargo & Company upped their price target on Masco from $65.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 14th. Evercore ISI decreased their price target on Masco from $82.00 to $71.00 and set an “in-line” rating on the stock in a research note on Thursday, April 24th. Finally, Royal Bank Of Canada decreased their price target on Masco from $74.00 to $62.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 24th. Ten investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $73.63.

Masco Stock Up 0.7%

Shares of NYSE MAS opened at $64.19 on Friday. The stock has a market cap of $13.54 billion, a P/E ratio of 17.54, a PEG ratio of 2.43 and a beta of 1.19. The company has a current ratio of 1.75, a quick ratio of 1.09 and a debt-to-equity ratio of 20.74. Masco Corporation has a 12-month low of $56.55 and a 12-month high of $86.70. The business’s fifty day simple moving average is $62.83 and its 200-day simple moving average is $69.42.

Masco (NYSE:MAS) last announced its quarterly earnings data 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). The company had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.84 billion. Masco had a net margin of 10.30% and a return on equity of 1,320.76%. The firm’s revenue was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.93 earnings per share. As a group, equities analysts predict that Masco Corporation will post 4.34 EPS for the current fiscal year.

Masco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Friday, May 23rd were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.93%. The ex-dividend date was Friday, May 23rd. Masco’s payout ratio is currently 33.88%.

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.