HighTower Advisors LLC Cuts Holdings in Masco Co. (NYSE:MAS)

HighTower Advisors LLC lessened its position in shares of Masco Co. (NYSE:MAS) by 1.5% in the third quarter, Holdings Channel.com reports. The fund owned 99,819 shares of the construction company’s stock after selling 1,534 shares during the quarter. HighTower Advisors LLC’s holdings in Masco were worth $8,374,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in shares of Masco during the 2nd quarter worth about $25,000. Family Firm Inc. purchased a new stake in Masco during the second quarter worth approximately $30,000. Capital Performance Advisors LLP acquired a new stake in shares of Masco in the third quarter worth $38,000. LRI Investments LLC raised its stake in shares of Masco by 850.8% in the 2nd quarter. LRI Investments LLC now owns 599 shares of the construction company’s stock valued at $40,000 after acquiring an additional 536 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Masco during the 3rd quarter valued at $43,000. 93.91% of the stock is currently owned by institutional investors and hedge funds.

Masco Stock Performance

Shares of Masco stock opened at $81.01 on Monday. The firm has a market cap of $17.48 billion, a PE ratio of 21.55, a price-to-earnings-growth ratio of 2.60 and a beta of 1.23. Masco Co. has a 1 year low of $62.95 and a 1 year high of $86.70. The firm’s 50-day simple moving average is $81.43 and its 200-day simple moving average is $76.20. The company has a debt-to-equity ratio of 20.74, a quick ratio of 1.21 and a current ratio of 1.83.

Masco (NYSE:MAS) last released its earnings results on Tuesday, October 29th. The construction company reported $1.08 EPS for the quarter, hitting analysts’ consensus estimates of $1.08. Masco had a return on equity of 615.54% and a net margin of 10.54%. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $2 billion. During the same quarter last year, the business posted $1.00 EPS. Masco’s quarterly revenue was up .2% compared to the same quarter last year. Equities analysts forecast that Masco Co. will post 4.09 earnings per share for the current fiscal year.

Masco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Friday, November 8th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.16 annualized dividend and a yield of 1.43%. Masco’s payout ratio is 30.85%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price target on Masco from $80.00 to $83.50 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Barclays increased their target price on Masco from $92.00 to $93.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Royal Bank of Canada lowered Masco from an “outperform” rating to a “sector perform” rating and boosted their price target for the stock from $79.00 to $80.00 in a research report on Wednesday, October 30th. BMO Capital Markets increased their price objective on shares of Masco from $78.00 to $85.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Finally, UBS Group boosted their target price on shares of Masco from $89.00 to $94.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Masco currently has a consensus rating of “Hold” and an average target price of $85.96.

Insiders Place Their Bets

In related news, VP Kenneth G. Cole sold 37,814 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $78.32, for a total transaction of $2,961,592.48. Following the completion of the sale, the vice president now owns 36,980 shares of the company’s stock, valued at $2,896,273.60. This represents a 50.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Masco Profile

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.