BTC Capital Management Inc. Grows Stock Holdings in Masco Corp (NYSE:MAS)

BTC Capital Management Inc. boosted its holdings in Masco Corp (NYSE:MAS) by 2.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 76,641 shares of the construction company’s stock after acquiring an additional 1,743 shares during the quarter. BTC Capital Management Inc.’s holdings in Masco were worth $3,197,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of MAS. Vanguard Group Inc. grew its stake in Masco by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 30,959,456 shares of the construction company’s stock valued at $1,214,850,000 after buying an additional 302,882 shares in the last quarter. APG Asset Management N.V. boosted its holdings in Masco by 7.3% in the 2nd quarter. APG Asset Management N.V. now owns 7,491,385 shares of the construction company’s stock valued at $258,133,000 after purchasing an additional 507,300 shares during the period. Invesco Ltd. boosted its holdings in Masco by 119.2% in the 2nd quarter. Invesco Ltd. now owns 4,858,957 shares of the construction company’s stock valued at $190,665,000 after purchasing an additional 2,641,856 shares during the period. Nuveen Asset Management LLC boosted its holdings in Masco by 3,506.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 4,530,529 shares of the construction company’s stock valued at $177,778,000 after purchasing an additional 4,404,891 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of Masco by 4,714.2% during the 2nd quarter. AQR Capital Management LLC now owns 4,520,776 shares of the construction company’s stock worth $177,395,000 after acquiring an additional 4,426,871 shares during the last quarter. Institutional investors own 91.40% of the company’s stock.

MAS has been the subject of a number of research analyst reports. SunTrust Banks dropped their price objective on shares of Masco from $50.00 to $48.00 and set a “buy” rating for the company in a report on Thursday, September 19th. Zacks Investment Research raised shares of Masco from a “sell” rating to a “hold” rating and set a $48.00 price objective for the company in a report on Friday, November 1st. Royal Bank of Canada set a $45.00 price target on shares of Masco and gave the stock a “buy” rating in a research note on Friday, July 26th. TheStreet upgraded shares of Masco from a “c+” rating to a “b-” rating in a research report on Tuesday, October 22nd. Finally, Bank of America decreased their price objective on shares of Masco from $56.00 to $54.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $46.75.

MAS stock traded up $0.07 during midday trading on Friday, reaching $46.30. 1,199,828 shares of the company’s stock traded hands, compared to its average volume of 3,353,776. The stock’s 50-day moving average is $43.39 and its 200 day moving average is $40.14. The company has a current ratio of 1.46, a quick ratio of 0.98 and a debt-to-equity ratio of 120.48. The stock has a market cap of $13.32 billion, a P/E ratio of 18.52, a PEG ratio of 2.49 and a beta of 1.46. Masco Corp has a 52-week low of $27.03 and a 52-week high of $46.95.

Masco (NYSE:MAS) last announced its quarterly earnings data on Wednesday, October 30th. The construction company reported $0.68 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.01). The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Masco had a return on equity of 1,500.49% and a net margin of 8.27%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the company earned $0.61 earnings per share. As a group, research analysts expect that Masco Corp will post 2.54 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Friday, October 11th will be paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 1.17%. This is a boost from Masco’s previous quarterly dividend of $0.12. The ex-dividend date is Thursday, October 10th. Masco’s dividend payout ratio (DPR) is presently 21.60%.

Masco declared that its board has approved a stock repurchase program on Tuesday, September 17th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 16.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

In other Masco news, insider Richard A. O’reagan sold 11,125 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $45.85, for a total transaction of $510,081.25. Following the transaction, the insider now owns 43,278 shares of the company’s stock, valued at approximately $1,984,296.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John G. Sznewajs sold 85,473 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $40.88, for a total transaction of $3,494,136.24. Following the completion of the sale, the chief financial officer now directly owns 318,403 shares of the company’s stock, valued at approximately $13,016,314.64. The disclosure for this sale can be found here. Company insiders own 1.17% of the company’s stock.

About Masco

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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