State of Michigan Retirement System Has $4.75 Million Holdings in Masco Co. (NYSE:MAS)

State of Michigan Retirement System trimmed its stake in shares of Masco Co. (NYSE:MAS) by 2.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,217 shares of the construction company’s stock after selling 1,200 shares during the period. State of Michigan Retirement System’s holdings in Masco were worth $4,750,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of MAS. Versant Capital Management Inc lifted its holdings in Masco by 62.4% during the 1st quarter. Versant Capital Management Inc now owns 354 shares of the construction company’s stock worth $28,000 after buying an additional 136 shares in the last quarter. Ballentine Partners LLC lifted its stake in shares of Masco by 2.5% during the first quarter. Ballentine Partners LLC now owns 5,513 shares of the construction company’s stock valued at $435,000 after acquiring an additional 137 shares during the period. Wedmont Private Capital boosted its holdings in Masco by 4.4% in the first quarter. Wedmont Private Capital now owns 4,246 shares of the construction company’s stock valued at $326,000 after acquiring an additional 178 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its position in Masco by 2.8% in the third quarter. B. Riley Wealth Advisors Inc. now owns 6,619 shares of the construction company’s stock worth $354,000 after purchasing an additional 180 shares during the period. Finally, Lindbrook Capital LLC raised its holdings in Masco by 19.5% during the 4th quarter. Lindbrook Capital LLC now owns 1,115 shares of the construction company’s stock worth $75,000 after purchasing an additional 182 shares during the last quarter. 93.91% of the stock is owned by institutional investors.

Masco Trading Up 0.1 %

NYSE MAS opened at $64.75 on Wednesday. Masco Co. has a 12 month low of $47.66 and a 12 month high of $78.94. The company has a current ratio of 1.74, a quick ratio of 1.09 and a debt-to-equity ratio of 18.76. The stock has a 50 day moving average of $68.82 and a 200-day moving average of $70.87. The company has a market cap of $14.26 billion, a PE ratio of 15.87, a PEG ratio of 1.75 and a beta of 1.24.

Masco (NYSE:MAS) last announced its quarterly earnings results on Wednesday, April 24th. The construction company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.06. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Masco had a net margin of 11.60% and a return on equity of 865.37%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.87 earnings per share. On average, equities research analysts anticipate that Masco Co. will post 4.11 EPS for the current fiscal year.

Masco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 24th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.79%. The ex-dividend date was Thursday, May 23rd. Masco’s dividend payout ratio is 28.43%.

Wall Street Analysts Forecast Growth

MAS has been the topic of several recent research reports. Evercore ISI reduced their target price on shares of Masco from $75.00 to $74.00 and set an “in-line” rating on the stock in a research note on Thursday, April 25th. Citigroup upped their target price on shares of Masco from $74.00 to $79.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Loop Capital decreased their price objective on Masco from $79.00 to $76.00 and set a “hold” rating for the company in a research note on Thursday, April 25th. Royal Bank of Canada increased their target price on Masco from $79.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Finally, StockNews.com cut shares of Masco from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.15.

About Masco

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.