Eastern Bank cut its stake in shares of Masco Corp (NYSE:MAS) by 26.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,203 shares of the construction company’s stock after selling 3,721 shares during the quarter. Eastern Bank’s holdings in Masco were worth $402,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of MAS. Bank of New York Mellon Corp increased its position in shares of Masco by 0.4% in the third quarter. Bank of New York Mellon Corp now owns 2,243,111 shares of the construction company’s stock valued at $82,098,000 after buying an additional 8,315 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Masco by 0.7% in the third quarter. Dimensional Fund Advisors LP now owns 1,065,461 shares of the construction company’s stock valued at $39,002,000 after buying an additional 7,808 shares in the last quarter. Standard Life Aberdeen plc increased its position in shares of Masco by 11.1% in the third quarter. Standard Life Aberdeen plc now owns 372,360 shares of the construction company’s stock valued at $13,627,000 after buying an additional 37,060 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Masco in the third quarter valued at $278,000. Finally, Envestnet Asset Management Inc. increased its position in shares of Masco by 13.7% in the third quarter. Envestnet Asset Management Inc. now owns 108,044 shares of the construction company’s stock valued at $3,954,000 after buying an additional 13,029 shares in the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE MAS traded up $0.05 during midday trading on Thursday, hitting $40.04. The stock had a trading volume of 3,344,612 shares, compared to its average volume of 3,790,612. The firm has a market capitalization of $11.91 billion, a P/E ratio of 16.02, a P/E/G ratio of 1.46 and a beta of 1.46. Masco Corp has a 1-year low of $27.03 and a 1-year high of $41.24. The company has a debt-to-equity ratio of 43.06, a current ratio of 1.64 and a quick ratio of 1.08.

Masco (NYSE:MAS) last released its quarterly earnings data on Thursday, February 7th. The construction company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.08. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.01 billion. Masco had a return on equity of 520.34% and a net margin of 8.78%. The company’s revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.44 EPS. On average, equities research analysts expect that Masco Corp will post 2.69 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Friday, April 12th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Thursday, April 11th. Masco’s dividend payout ratio (DPR) is presently 19.20%.

In other Masco news, insider Richard A. O’reagan sold 12,336 shares of Masco stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $39.48, for a total transaction of $487,025.28. Following the sale, the insider now directly owns 54,403 shares in the company, valued at approximately $2,147,830.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John P. Lindow sold 37,795 shares of Masco stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $39.07, for a total value of $1,476,650.65. Following the sale, the vice president now owns 60,454 shares in the company, valued at $2,361,937.78. The disclosure for this sale can be found here. Insiders have sold a total of 298,940 shares of company stock worth $11,890,269 over the last three months. 1.17% of the stock is currently owned by corporate insiders.

A number of research firms recently commented on MAS. Zacks Investment Research cut Masco from a “buy” rating to a “sell” rating in a research report on Wednesday, January 9th. Robert W. Baird set a $41.00 price objective on Masco and gave the stock a “buy” rating in a research report on Friday, February 8th. TheStreet upgraded Masco from a “c+” rating to a “b-” rating in a research report on Wednesday, February 6th. Credit Suisse Group reiterated a “hold” rating and set a $34.00 price objective on shares of Masco in a research report on Thursday, February 7th. Finally, Nomura lifted their price objective on Masco from $39.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $42.90.

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Masco Profile

Masco Corporation designs, manufactures, and distributes home improvement and building products worldwide. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, toilets, acrylic tubs, shower trays, spas, exercise pools, fitness systems, and other non-decorative plumbing products; brass, copper, and composite plumbing system components; and thermoplastic extrusions, extruded plastic profiles, and specialized fabrications.

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Institutional Ownership by Quarter for Masco (NYSE:MAS)

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