Principal Financial Group Inc. Sells 46,301 Shares of Masco Co. (NYSE:MAS)

Principal Financial Group Inc. cut its stake in Masco Co. (NYSE:MASGet Rating) by 13.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 300,336 shares of the construction company’s stock after selling 46,301 shares during the quarter. Principal Financial Group Inc. owned 0.13% of Masco worth $15,197,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its position in Masco by 3.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 21,917,680 shares of the construction company’s stock valued at $1,117,802,000 after buying an additional 688,373 shares during the period. AustralianSuper Pty Ltd grew its position in Masco by 18.3% during the second quarter. AustralianSuper Pty Ltd now owns 4,870,464 shares of the construction company’s stock valued at $246,445,000 after buying an additional 751,825 shares during the period. Boston Partners grew its position in Masco by 17.7% during the first quarter. Boston Partners now owns 3,812,504 shares of the construction company’s stock valued at $194,433,000 after buying an additional 573,854 shares during the period. Van ECK Associates Corp grew its position in Masco by 97.5% during the second quarter. Van ECK Associates Corp now owns 3,418,052 shares of the construction company’s stock valued at $172,953,000 after buying an additional 1,687,476 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Masco by 7.6% in the first quarter. Invesco Ltd. now owns 2,241,480 shares of the construction company’s stock worth $114,316,000 after purchasing an additional 157,918 shares during the period. 92.59% of the stock is currently owned by institutional investors.

Masco Trading Up 0.8 %

Shares of MAS opened at $50.68 on Friday. The company’s fifty day simple moving average is $47.79 and its 200-day simple moving average is $51.29. The company has a market cap of $11.43 billion, a P/E ratio of 13.77, a P/E/G ratio of 1.97 and a beta of 1.16. Masco Co. has a twelve month low of $42.33 and a twelve month high of $71.06.

Masco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 28th. Stockholders of record on Thursday, November 10th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Wednesday, November 9th. Masco’s payout ratio is presently 30.43%.

Insider Transactions at Masco

In other news, Director Reginald M. Turner, Jr. sold 1,100 shares of the company’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $46.81, for a total value of $51,491.00. Following the transaction, the director now directly owns 28,766 shares in the company, valued at $1,346,536.46. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Masco news, Director Reginald M. Turner, Jr. sold 1,100 shares of the stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $46.81, for a total transaction of $51,491.00. Following the transaction, the director now directly owns 28,766 shares in the company, valued at approximately $1,346,536.46. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Keith J. Allman sold 10,000 shares of the stock in a transaction dated Friday, October 14th. The stock was sold at an average price of $48.79, for a total transaction of $487,900.00. Following the transaction, the chief executive officer now owns 278,295 shares in the company, valued at $13,578,013.05. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

MAS has been the subject of a number of recent analyst reports. Barclays dropped their price target on shares of Masco from $66.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday, October 27th. Wells Fargo & Company boosted their target price on shares of Masco from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, August 1st. The Goldman Sachs Group lowered their target price on shares of Masco to $57.00 in a report on Monday. Credit Suisse Group lowered their target price on shares of Masco to $40.00 in a report on Thursday, October 20th. Finally, BMO Capital Markets lowered their target price on shares of Masco from $60.00 to $55.00 and set a “market perform” rating on the stock in a report on Thursday, October 27th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $57.86.

Masco Profile

(Get Rating)

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.

See Also

Institutional Ownership by Quarter for Masco (NYSE:MAS)

Receive News & Ratings for Masco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Masco and related companies with MarketBeat.com's FREE daily email newsletter.