Masco Corporation $MAS Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its stake in Masco Corporation (NYSE:MAS) by 5.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 239,174 shares of the construction company’s stock after selling 13,284 shares during the quarter. Principal Financial Group Inc. owned about 0.12% of Masco worth $16,835,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Norges Bank acquired a new stake in Masco in the second quarter valued at approximately $122,990,000. Vanguard Group Inc. boosted its stake in shares of Masco by 6.6% in the second quarter. Vanguard Group Inc. now owns 28,872,772 shares of the construction company’s stock valued at $1,858,252,000 after purchasing an additional 1,780,673 shares during the period. Holocene Advisors LP boosted its stake in shares of Masco by 48.6% in the second quarter. Holocene Advisors LP now owns 5,001,386 shares of the construction company’s stock valued at $321,889,000 after purchasing an additional 1,635,746 shares during the period. Boston Partners grew its holdings in Masco by 16.3% during the 2nd quarter. Boston Partners now owns 5,791,561 shares of the construction company’s stock valued at $372,859,000 after purchasing an additional 810,881 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in Masco by 24.0% during the 3rd quarter. Nordea Investment Management AB now owns 4,104,852 shares of the construction company’s stock worth $286,396,000 after buying an additional 793,591 shares during the period. 93.91% of the stock is currently owned by hedge funds and other institutional investors.

Masco Price Performance

Shares of MAS opened at $71.47 on Tuesday. Masco Corporation has a 52 week low of $56.55 and a 52 week high of $79.16. The company has a current ratio of 1.88, a quick ratio of 1.20 and a debt-to-equity ratio of 17.53. The firm has a market cap of $14.84 billion, a price-to-earnings ratio of 18.33, a PEG ratio of 3.17 and a beta of 1.28. The stock has a 50 day moving average of $66.48 and a 200-day moving average of $67.95.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada reissued a “sector perform” rating and issued a $67.00 price objective on shares of Masco in a research report on Friday, January 9th. Citigroup reduced their price target on Masco from $72.00 to $71.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Zacks Research lowered Masco from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Argus cut their target price on Masco from $82.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Finally, Evercore reduced their target price on Masco from $75.00 to $70.00 and set an “in-line” rating for the company in a research note on Thursday, October 30th. Seven equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, Masco presently has a consensus rating of “Hold” and a consensus price target of $73.20.

Masco Company Profile

Masco Corporation is a global leader in the design, manufacture and distribution of branded home improvement and building products. Founded in 1929 and headquartered in Livonia, Michigan, the company has evolved from a small door‐bell manufacturer into a diversified enterprise serving both residential and commercial markets. Over its history, Masco has grown through a combination of organic innovation and strategic acquisitions, building a portfolio of well-recognized brands.

The company’s product offerings are organized into two primary segments.