JPMorgan Chase & Co. Cuts Stock Position in Masco Co. (NYSE:MAS)

JPMorgan Chase & Co. reduced its stake in Masco Co. (NYSE:MAS - Free Report) by 6.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,726,902 shares of the construction company's stock after selling 252,947 shares during the period. JPMorgan Chase & Co. owned 1.73% of Masco worth $270,461,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MAS. ORG Wealth Partners LLC bought a new position in shares of Masco in the 4th quarter worth approximately $27,000. Golden State Wealth Management LLC bought a new position in Masco in the fourth quarter worth $27,000. Kestra Investment Management LLC purchased a new position in Masco during the fourth quarter valued at $30,000. Lee Danner & Bass Inc. bought a new stake in shares of Masco during the 4th quarter valued at $42,000. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of Masco by 26.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 703 shares of the construction company's stock worth $51,000 after buying an additional 148 shares during the period. 93.91% of the stock is currently owned by hedge funds and other institutional investors.

Masco Stock Performance

NYSE:MAS traded down $1.30 during mid-day trading on Friday, reaching $62.85. The company's stock had a trading volume of 4,248,558 shares, compared to its average volume of 1,674,133. The firm's fifty day moving average price is $74.10 and its two-hundred day moving average price is $77.51. 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 $13.30 billion, a P/E ratio of 16.72, a PEG ratio of 1.94 and a beta of 1.24. Masco Co. has a 12-month low of $60.30 and a 12-month high of $86.70.

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Masco (NYSE:MAS - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The construction company reported $0.89 earnings per share 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 quarter in the prior year, the business earned $0.83 EPS. On average, equities analysts forecast that Masco Co. will post 4.34 EPS for the current fiscal year.

Masco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 21st were issued a $0.31 dividend. The ex-dividend date was Friday, February 21st. This represents a $1.24 annualized dividend and a dividend yield of 1.97%. This is a positive change from Masco's previous quarterly dividend of $0.29. Masco's payout ratio is presently 32.98%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. UBS Group lowered their price target on shares of Masco from $94.00 to $91.00 and set a "buy" rating for the company in a research report on Wednesday, February 12th. Oppenheimer raised Masco from a "market perform" rating to an "outperform" rating and set a $89.00 price target on the stock in a research report on Friday, January 10th. Deutsche Bank Aktiengesellschaft started coverage on Masco in a research report on Tuesday. They set a "hold" rating and a $71.00 price objective for the company. Barclays boosted their target price on Masco from $84.00 to $87.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Finally, The Goldman Sachs Group raised their price target on Masco from $85.00 to $96.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Ten analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $85.30.

Insider Activity at Masco

In related news, 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 transaction of $1,658,768.28. Following the completion of the sale, the chief executive officer now directly owns 60,267 shares in the company, valued at approximately $4,601,988.12. The trade was a 26.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $225,317.42. Following the transaction, the vice president now directly owns 33,027 shares in the company, valued at approximately $2,370,678.06. The trade was a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

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.