Handelsbanken Fonder AB Sells 10,339 Shares of Masco Co. (NYSE:MAS)

Handelsbanken Fonder AB reduced its position in shares of Masco Co. (NYSE:MAS) by 16.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,849 shares of the construction company’s stock after selling 10,339 shares during the quarter. Handelsbanken Fonder AB’s holdings in Masco were worth $3,745,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kestra Investment Management LLC bought a new stake in Masco during the fourth quarter worth $30,000. Lee Danner & Bass Inc. bought a new position in shares of Masco in the fourth quarter valued at about $42,000. GeoWealth Management LLC raised its position in shares of Masco by 89.0% in the fourth quarter. GeoWealth Management LLC now owns 684 shares of the construction company’s stock valued at $50,000 after purchasing an additional 322 shares during the period. SRS Capital Advisors Inc. raised its position in shares of Masco by 74.3% in the fourth quarter. SRS Capital Advisors Inc. now owns 774 shares of the construction company’s stock valued at $56,000 after purchasing an additional 330 shares during the period. Finally, Allworth Financial LP raised its position in shares of Masco by 17.3% in the fourth quarter. Allworth Financial LP now owns 901 shares of the construction company’s stock valued at $71,000 after purchasing an additional 133 shares during the period. 93.91% of the stock is owned by institutional investors.

Masco Price Performance

NYSE:MAS opened at $61.83 on Friday. Masco Co. has a 52 week low of $56.55 and a 52 week high of $86.70. The firm has a market cap of $13.04 billion, a price-to-earnings ratio of 16.44, a P/E/G ratio of 1.94 and a beta of 1.19. The firm’s 50-day simple moving average is $62.70 and its 200 day simple moving average is $70.66. The company has a debt-to-equity ratio of 20.74, a quick ratio of 1.15 and a current ratio of 1.75.

Masco (NYSE:MAS) last released its earnings results on Wednesday, April 23rd. The construction company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.05). Masco had a net margin of 10.50% and a return on equity of 838.32%. The firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the prior year, the business earned $0.93 earnings per share. Masco’s quarterly revenue was down 6.5% compared to the same quarter last year. As a group, sell-side analysts predict that Masco Co. will post 4.34 earnings per share for the current year.

Masco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Friday, May 23rd were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.01%. The ex-dividend date was Friday, May 23rd. Masco’s dividend payout ratio is currently 33.88%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Robert W. Baird dropped their price objective on shares of Masco from $72.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Jefferies Financial Group dropped their price objective on shares of Masco from $64.00 to $62.00 and set a “hold” rating on the stock in a research report on Wednesday, April 23rd. Truist Financial dropped their price objective on shares of Masco from $92.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. The Goldman Sachs Group dropped their price objective on shares of Masco from $82.00 to $73.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Masco in a research report on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Masco presently has a consensus rating of “Hold” and a consensus target price of $73.63.

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.