Panagora Asset Management Inc. Sells 15,734 Shares of Masco Co. (NYSE:MAS)

Panagora Asset Management Inc. cut its position in shares of Masco Co. (NYSE:MAS) by 67.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,736 shares of the construction company’s stock after selling 15,734 shares during the period. Panagora Asset Management Inc.’s holdings in Masco were worth $516,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. New Covenant Trust Company N.A. bought a new stake in Masco in the 1st quarter valued at $25,000. Versant Capital Management Inc boosted its position in shares of Masco by 62.4% during the 1st quarter. Versant Capital Management Inc now owns 354 shares of the construction company’s stock valued at $28,000 after acquiring an additional 136 shares in the last quarter. Venturi Wealth Management LLC increased its stake in Masco by 70.1% in the first quarter. Venturi Wealth Management LLC now owns 432 shares of the construction company’s stock valued at $34,000 after acquiring an additional 178 shares during the period. Family Firm Inc. acquired a new position in Masco in the second quarter worth about $30,000. Finally, Larson Financial Group LLC lifted its stake in Masco by 4,545.5% during the first quarter. Larson Financial Group LLC now owns 511 shares of the construction company’s stock worth $40,000 after purchasing an additional 500 shares during the period. 93.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MAS. Barclays upped their price objective on Masco from $79.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. BMO Capital Markets upped their price target on Masco from $75.00 to $78.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. Robert W. Baird lifted their price objective on Masco from $84.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Royal Bank of Canada upped their target price on shares of Masco from $78.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, Citigroup cut their price target on shares of Masco from $73.00 to $66.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.58.

Masco Stock Performance

MAS stock opened at $78.31 on Wednesday. The company has a 50 day moving average price of $73.24 and a 200 day moving average price of $72.70. Masco Co. has a fifty-two week low of $47.66 and a fifty-two week high of $81.91. 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 stock has a market capitalization of $17.09 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of 2.50 and a beta of 1.24.

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

Masco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 2nd were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend was Friday, August 2nd. Masco’s dividend payout ratio (DPR) 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.