Meeder Asset Management Inc. Sells 69,783 Shares of Masco Corporation (NYSE:MAS)

Meeder Asset Management Inc. cut its position in shares of Masco Corporation (NYSE:MAS) by 29.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 167,617 shares of the construction company’s stock after selling 69,783 shares during the quarter. Masco accounts for about 0.8% of Meeder Asset Management Inc.’s portfolio, making the stock its 24th biggest holding. Meeder Asset Management Inc. owned about 0.08% of Masco worth $11,656,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MAS. Meeder Advisory Services Inc. grew its stake in Masco by 29.8% in the first quarter. Meeder Advisory Services Inc. now owns 4,319 shares of the construction company’s stock valued at $300,000 after purchasing an additional 991 shares in the last quarter. Evermay Wealth Management LLC grew its stake in Masco by 25.1% in the first quarter. Evermay Wealth Management LLC now owns 996 shares of the construction company’s stock valued at $69,000 after purchasing an additional 200 shares in the last quarter. LPL Financial LLC grew its stake in Masco by 7.2% in the first quarter. LPL Financial LLC now owns 187,893 shares of the construction company’s stock valued at $13,066,000 after purchasing an additional 12,686 shares in the last quarter. Empirical Finance LLC grew its stake in Masco by 4.0% in the first quarter. Empirical Finance LLC now owns 8,126 shares of the construction company’s stock valued at $565,000 after purchasing an additional 309 shares in the last quarter. Finally, HB Wealth Management LLC grew its stake in Masco by 26.7% in the first quarter. HB Wealth Management LLC now owns 5,365 shares of the construction company’s stock valued at $373,000 after purchasing an additional 1,130 shares in the last quarter. 93.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on MAS shares. Wall Street Zen upgraded Masco from a “sell” rating to a “hold” rating in a research note on Saturday, June 21st. Royal Bank Of Canada decreased their price target on Masco from $74.00 to $62.00 and set a “sector perform” rating for the company in a research note on Thursday, April 24th. Loop Capital set a $62.00 price objective on Masco and gave the company a “hold” rating in a research report on Thursday, April 24th. Baird R W cut Masco from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Masco in a research report on Wednesday, May 28th. Twelve equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $74.03.

Masco Trading Down 0.3%

NYSE:MAS opened at $67.52 on Tuesday. The stock has a market cap of $14.24 billion, a P/E ratio of 18.45, a PEG ratio of 2.76 and a beta of 1.19. The stock has a 50 day simple moving average of $64.32 and a 200 day simple moving average of $68.20. Masco Corporation has a 1-year low of $56.55 and a 1-year high of $86.70.

Masco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Friday, May 23rd were issued a dividend of $0.31 per share. The ex-dividend date was Friday, May 23rd. This represents a $1.24 annualized dividend and a yield of 1.84%. 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.