Gateway Investment Advisers LLC Trims Stake in Masco Co. (NYSE:MAS)

Gateway Investment Advisers LLC lessened its stake in Masco Co. (NYSE:MAS) by 6.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,245 shares of the construction company’s stock after selling 3,259 shares during the period. Gateway Investment Advisers LLC’s holdings in Masco were worth $3,714,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Manning & Napier Advisors LLC purchased a new stake in shares of Masco during the 2nd quarter worth about $82,363,000. Confluence Investment Management LLC acquired a new stake in Masco in the first quarter valued at approximately $78,181,000. Acadian Asset Management LLC increased its position in shares of Masco by 66.5% in the second quarter. Acadian Asset Management LLC now owns 1,823,934 shares of the construction company’s stock valued at $121,581,000 after buying an additional 728,690 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Masco by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 26,300,591 shares of the construction company’s stock worth $2,074,591,000 after buying an additional 721,117 shares during the period. Finally, Lazard Asset Management LLC lifted its position in shares of Masco by 55.8% during the 1st quarter. Lazard Asset Management LLC now owns 1,538,952 shares of the construction company’s stock valued at $121,391,000 after buying an additional 551,203 shares in the last quarter. 93.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on MAS. 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. StockNews.com cut Masco from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. Wells Fargo & Company boosted their price objective on Masco from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Robert W. Baird lifted their price target on Masco from $84.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada increased their price objective on Masco from $78.00 to $79.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $80.58.

Masco Stock Performance

NYSE:MAS opened at $83.49 on Friday. The company’s 50-day moving average is $79.33 and its two-hundred day moving average is $73.85. The firm has a market capitalization of $18.22 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 2.64 and a beta of 1.24. The company has a debt-to-equity ratio of 16.18, a current ratio of 1.76 and a quick ratio of 1.12. Masco Co. has a 1-year low of $47.66 and a 1-year high of $84.69.

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

Masco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 2nd were issued a $0.29 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $1.16 annualized dividend and a yield of 1.39%. Masco’s dividend payout ratio (DPR) is currently 28.36%.

Insiders Place Their Bets

In other news, VP Kenneth G. Cole sold 37,814 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $78.32, for a total value of $2,961,592.48. Following the sale, the vice president now directly owns 36,980 shares of the company’s stock, valued at approximately $2,896,273.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is currently owned by insiders.

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.