Eagle Asset Management Inc. Sells 6,825 Shares of Masco Co. (NYSE:MAS)

Eagle Asset Management Inc. trimmed its holdings in shares of Masco Co. (NYSE:MAS) by 14.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,933 shares of the construction company’s stock after selling 6,825 shares during the quarter. Eagle Asset Management Inc.’s holdings in Masco were worth $3,233,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Farther Finance Advisors LLC boosted its stake in shares of Masco by 6.7% in the third quarter. Farther Finance Advisors LLC now owns 2,031 shares of the construction company’s stock valued at $170,000 after buying an additional 128 shares during the period. WCM Investment Management LLC grew its holdings in shares of Masco by 0.3% during the 3rd quarter. WCM Investment Management LLC now owns 44,940 shares of the construction company’s stock worth $3,756,000 after purchasing an additional 132 shares in the last quarter. Metis Global Partners LLC increased its position in shares of Masco by 1.9% in the third quarter. Metis Global Partners LLC now owns 7,031 shares of the construction company’s stock worth $590,000 after purchasing an additional 133 shares during the period. Empirical Finance LLC raised its stake in Masco by 1.8% in the third quarter. Empirical Finance LLC now owns 7,917 shares of the construction company’s stock valued at $665,000 after purchasing an additional 137 shares in the last quarter. Finally, HB Wealth Management LLC lifted its position in Masco by 3.6% during the second quarter. HB Wealth Management LLC now owns 4,127 shares of the construction company’s stock worth $275,000 after purchasing an additional 142 shares during the period. Institutional investors and hedge funds own 93.91% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on MAS. Evercore ISI boosted their target price on shares of Masco from $78.00 to $82.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. BMO Capital Markets upped their target price on Masco from $78.00 to $85.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada lowered Masco from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $79.00 to $80.00 in a research note on Wednesday, October 30th. Jefferies Financial Group upped their price objective on Masco from $89.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Barclays boosted their target price on Masco from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $85.96.

Masco Price Performance

Shares of NYSE:MAS opened at $82.16 on Tuesday. The company has a debt-to-equity ratio of 20.74, a quick ratio of 1.21 and a current ratio of 1.83. Masco Co. has a 52 week low of $58.91 and a 52 week high of $86.70. The firm has a market cap of $17.73 billion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 2.56 and a beta of 1.24. The firm’s fifty day moving average is $81.78 and its 200-day moving average is $75.57.

Masco (NYSE:MAS) last announced its earnings results on Tuesday, October 29th. The construction company reported $1.08 EPS for the quarter, hitting the consensus estimate of $1.08. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $2 billion. Masco had a return on equity of 615.54% and a net margin of 10.54%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.00 EPS. Sell-side analysts predict that Masco Co. will post 4.09 earnings per share for the current year.

Masco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Friday, November 8th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.16 annualized dividend and a yield of 1.41%. Masco’s payout ratio is 30.85%.

Insider Transactions at Masco

In other news, VP Kenneth G. Cole sold 37,814 shares of Masco stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $78.32, for a total value of $2,961,592.48. Following the completion of the transaction, the vice president now directly owns 36,980 shares of the company’s stock, valued at approximately $2,896,273.60. This trade represents a 50.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

Masco 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.