Retirement Systems of Alabama Reduces Position in Masco Co. (NYSE:MAS)

Retirement Systems of Alabama trimmed its holdings in Masco Co. (NYSE:MAS) by 1.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,801 shares of the construction company’s stock after selling 783 shares during the quarter. Retirement Systems of Alabama’s holdings in Masco were worth $4,012,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Farther Finance Advisors LLC boosted its stake in Masco by 6.7% during the third quarter. Farther Finance Advisors LLC now owns 2,031 shares of the construction company’s stock worth $170,000 after buying an additional 128 shares during the last quarter. WCM Investment Management LLC boosted its position in shares of Masco by 0.3% during the 3rd quarter. WCM Investment Management LLC now owns 44,940 shares of the construction company’s stock valued at $3,756,000 after acquiring an additional 132 shares during the last quarter. Metis Global Partners LLC grew its holdings in shares of Masco by 1.9% in the third quarter. Metis Global Partners LLC now owns 7,031 shares of the construction company’s stock valued at $590,000 after purchasing an additional 133 shares during the period. Empirical Finance LLC increased its position in Masco by 1.8% during the third quarter. Empirical Finance LLC now owns 7,917 shares of the construction company’s stock worth $665,000 after purchasing an additional 137 shares during the last quarter. Finally, HB Wealth Management LLC raised its stake in Masco by 3.6% during the second quarter. HB Wealth Management LLC now owns 4,127 shares of the construction company’s stock worth $275,000 after purchasing an additional 142 shares during the period. 93.91% of the stock is currently owned by institutional investors and hedge funds.

Masco Price Performance

Masco stock opened at $72.69 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.83 and a debt-to-equity ratio of 20.74. Masco Co. has a 52-week low of $63.60 and a 52-week high of $86.70. The firm has a market cap of $15.68 billion, a PE ratio of 19.33, a price-to-earnings-growth ratio of 2.57 and a beta of 1.23. The company’s 50 day moving average is $80.41 and its two-hundred day moving average is $76.66.

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

Masco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Friday, November 8th were paid a dividend of $0.29 per share. The ex-dividend date was Friday, November 8th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.60%. Masco’s payout ratio is 30.85%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MAS. Evercore ISI increased their price target on shares of Masco from $78.00 to $82.00 and gave the company an “in-line” 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 increased their price objective for the stock from $79.00 to $80.00 in a research report on Wednesday, October 30th. Jefferies Financial Group downgraded Masco from a “buy” rating to a “hold” rating and reduced their target price for the company from $96.00 to $89.00 in a research report on Monday. Loop Capital increased their price target on Masco from $76.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Finally, BMO Capital Markets boosted their price objective on shares of Masco from $78.00 to $85.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $85.88.

Masco Company 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.