Distillate Capital Partners LLC Invests $15.66 Million in Masco Co. (NYSE:MAS)

Distillate Capital Partners LLC purchased a new stake in shares of Masco Co. (NYSE:MAS - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 215,815 shares of the construction company's stock, valued at approximately $15,662,000. Distillate Capital Partners LLC owned 0.10% of Masco at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank acquired a new position in shares of Masco during the 4th quarter worth about $129,306,000. Nordea Investment Management AB lifted its holdings in shares of Masco by 21.0% during the fourth quarter. Nordea Investment Management AB now owns 2,997,839 shares of the construction company's stock worth $218,063,000 after buying an additional 520,555 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Masco in the fourth quarter valued at approximately $33,157,000. Invesco Ltd. boosted its position in shares of Masco by 14.7% in the fourth quarter. Invesco Ltd. now owns 2,821,629 shares of the construction company's stock valued at $204,766,000 after acquiring an additional 360,931 shares during the period. Finally, KBC Group NV grew its stake in shares of Masco by 91.6% in the fourth quarter. KBC Group NV now owns 708,830 shares of the construction company's stock worth $51,440,000 after acquiring an additional 338,925 shares during the last quarter. 93.91% of the stock is owned by institutional investors and hedge funds.

Masco Price Performance

MAS stock traded down $0.57 during trading on Tuesday, hitting $61.84. 2,519,085 shares of the stock traded hands, compared to its average volume of 1,705,691. The stock has a market cap of $13.09 billion, a price-to-earnings ratio of 16.45, a P/E/G ratio of 1.94 and a beta of 1.24. Masco Co. has a one year low of $57.27 and a one year 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 company has a 50 day simple moving average of $70.92 and a 200 day simple moving average of $76.20.

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Masco (NYSE:MAS - Get Free Report) last posted its earnings results on Tuesday, February 11th. The construction company reported $0.89 earnings per share (EPS) for the quarter, beating 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 company earned $0.83 earnings per share. Equities analysts expect that Masco Co. will post 4.34 EPS for the current fiscal year.

Masco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 21st were paid a $0.31 dividend. The ex-dividend date was Friday, February 21st. This is a positive change from Masco's previous quarterly dividend of $0.29. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.01%. Masco's dividend payout ratio (DPR) is 32.98%.

Insider Activity at Masco

In other Masco news, VP Renee Straber sold 3,139 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $71.78, for a total value 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Keith J. Allman sold 21,723 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $76.36, for a total transaction of $1,658,768.28. Following the sale, the chief executive officer now directly owns 60,267 shares in the company, valued at $4,601,988.12. This trade represents a 26.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MAS has been the subject of a number of research reports. The Goldman Sachs Group increased their price target on shares of Masco from $85.00 to $96.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Barclays reduced their target price on shares of Masco from $87.00 to $75.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Zelman & Associates raised Masco to a "strong-buy" rating in a research report on Friday, January 17th. Oppenheimer raised Masco from a "market perform" rating to an "outperform" rating and set a $89.00 price target for the company in a report on Friday, January 10th. Finally, Citigroup decreased their price objective on Masco from $82.00 to $77.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. Ten research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $83.37.

About Masco

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.