EverSource Wealth Advisors LLC Sells 154 Shares of Masco Co. (NYSE:MAS)

EverSource Wealth Advisors LLC decreased its stake in Masco Co. (NYSE:MAS) by 0.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 46,986 shares of the construction company’s stock after selling 154 shares during the period. EverSource Wealth Advisors LLC’s holdings in Masco were worth $3,133,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Masco by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 26,300,591 shares of the construction company’s stock worth $2,074,591,000 after purchasing an additional 721,117 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Masco by 1.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 9,830,723 shares of the construction company’s stock valued at $655,414,000 after buying an additional 181,515 shares during the last quarter. Harris Associates L P grew its stake in shares of Masco by 1.5% during the 4th quarter. Harris Associates L P now owns 9,769,194 shares of the construction company’s stock worth $654,341,000 after acquiring an additional 140,334 shares during the period. Van ECK Associates Corp increased its holdings in Masco by 0.3% in the 2nd quarter. Van ECK Associates Corp now owns 2,924,621 shares of the construction company’s stock worth $194,985,000 after acquiring an additional 9,094 shares during the last quarter. Finally, Impax Asset Management Group plc increased its holdings in Masco by 10.0% in the 2nd quarter. Impax Asset Management Group plc now owns 2,855,056 shares of the construction company’s stock worth $190,347,000 after acquiring an additional 259,205 shares during the last quarter. 93.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Barclays increased their target price on shares of Masco from $79.00 to $88.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Jefferies Financial Group boosted their target price on shares of Masco from $83.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Royal Bank of Canada raised their price target on Masco from $78.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. BMO Capital Markets boosted their price target on shares of Masco from $75.00 to $78.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. Finally, Robert W. Baird upped their target price on shares of Masco from $84.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Masco currently has an average rating of “Moderate Buy” and a consensus price target of $77.58.

Insiders Place Their Bets

In other news, VP Kenneth G. Cole sold 37,814 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $78.32, for a total value of $2,961,592.48. Following the transaction, the vice president now owns 36,980 shares in the company, valued at approximately $2,896,273.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

Masco Trading Down 1.4 %

Shares of NYSE:MAS opened at $82.11 on Friday. Masco Co. has a 1 year low of $47.66 and a 1 year high of $83.56. The stock’s fifty day moving average price is $76.72 and its 200-day moving average price is $73.08. The company has a debt-to-equity ratio of 16.18, a current ratio of 1.76 and a quick ratio of 1.12. The company has a market cap of $18.08 billion, a P/E ratio of 20.13, a PEG ratio of 2.45 and a beta of 1.24.

Masco (NYSE:MAS) last issued its earnings results on Thursday, July 25th. The construction company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.02. The company had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Masco had a net margin of 11.59% and a return on equity of 602.39%. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the company posted $1.19 earnings per share. Sell-side analysts expect that Masco Co. will post 4.11 earnings per share for the current year.

Masco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 2nd were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date was Friday, August 2nd. Masco’s dividend payout ratio is 28.43%.

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.