California Public Employees Retirement System Lowers Holdings in Masco Co. (NYSE:MAS)

California Public Employees Retirement System cut its stake in shares of Masco Co. (NYSE:MAS - Free Report) by 10.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 425,608 shares of the construction company's stock after selling 51,402 shares during the period. California Public Employees Retirement System owned about 0.20% of Masco worth $30,886,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Masco in the 4th quarter worth about $129,306,000. Nordea Investment Management AB grew its stake in Masco by 21.0% during the fourth quarter. Nordea Investment Management AB now owns 2,997,839 shares of the construction company's stock valued at $218,063,000 after acquiring an additional 520,555 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Masco in the fourth quarter worth $33,157,000. KBC Group NV raised its holdings in shares of Masco by 91.6% in the 4th quarter. KBC Group NV now owns 708,830 shares of the construction company's stock valued at $51,440,000 after acquiring an additional 338,925 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in Masco by 10.2% in the fourth quarter. Van ECK Associates Corp now owns 3,250,400 shares of the construction company's stock valued at $235,881,000 after purchasing an additional 299,520 shares in the last quarter. 93.91% of the stock is currently owned by hedge funds and other institutional investors.

Masco Stock Performance

MAS stock traded down $1.96 during midday trading on Monday, reaching $60.97. 3,316,151 shares of the company's stock traded hands, compared to its average volume of 1,681,773. The stock's 50-day moving average is $73.68 and its 200 day moving average is $77.30. Masco Co. has a 52-week low of $59.83 and a 52-week high of $86.70. The company has a current ratio of 1.75, a quick ratio of 1.15 and a debt-to-equity ratio of 20.74. The stock has a market cap of $12.90 billion, a P/E ratio of 16.21, a PEG ratio of 1.94 and a beta of 1.24.

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Masco (NYSE:MAS - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The construction company reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.01. Masco had a net margin of 10.50% and a return on equity of 838.32%. During the same period in the previous year, the firm earned $0.83 earnings per share. As a group, analysts anticipate that Masco Co. will post 4.34 EPS for the current year.

Masco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 21st were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.24 annualized dividend and a dividend yield of 2.03%. This is a boost from Masco's previous quarterly dividend of $0.29. Masco's dividend payout ratio (DPR) is presently 32.98%.

Insiders Place Their Bets

In related news, VP Renee Straber sold 3,139 shares of Masco stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $71.78, for a total transaction of $225,317.42. Following the completion of the transaction, the vice president now directly owns 33,027 shares of the company's stock, valued at approximately $2,370,678.06. The trade was a 8.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Keith J. Allman sold 21,723 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $76.36, for a total value of $1,658,768.28. Following the transaction, the chief executive officer now owns 60,267 shares of the company's stock, valued at $4,601,988.12. This trade represents a 26.49 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Oppenheimer raised Masco from a "market perform" rating to an "outperform" rating and set a $89.00 price objective on the stock in a report on Friday, January 10th. Jefferies Financial Group cut Masco from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $96.00 to $89.00 in a report on Monday, December 16th. Wells Fargo & Company reduced their price target on shares of Masco from $85.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 4th. Barclays upped their price target on Masco from $84.00 to $87.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Finally, UBS Group lowered their target price on shares of Masco from $94.00 to $91.00 and set a "buy" rating for the company in a report on Wednesday, February 12th. Ten research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Masco presently has an average rating of "Hold" and an average price target of $85.30.

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.