Korea Investment CORP Boosts Stock Holdings in Masco Co. (NYSE:MAS)

Korea Investment CORP grew its stake in Masco Co. (NYSE:MAS - Free Report) by 15.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 225,304 shares of the construction company's stock after purchasing an additional 30,835 shares during the quarter. Korea Investment CORP owned about 0.10% of Masco worth $16,350,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MAS. Nordea Investment Management AB grew its holdings in Masco by 21.0% in the fourth quarter. Nordea Investment Management AB now owns 2,997,839 shares of the construction company's stock worth $218,063,000 after purchasing an additional 520,555 shares during the period. Raymond James Financial Inc. purchased a new stake in Masco during the 4th quarter valued at $33,157,000. KBC Group NV lifted its holdings in Masco by 91.6% in the fourth 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 during the period. Van ECK Associates Corp boosted its holdings in shares of Masco by 10.2% in the fourth quarter. Van ECK Associates Corp now owns 3,250,400 shares of the construction company's stock worth $235,881,000 after buying an additional 299,520 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of Masco by 49.2% during the 3rd quarter. Barclays PLC now owns 883,859 shares of the construction company's stock worth $74,192,000 after acquiring an additional 291,658 shares during the last quarter. 93.91% of the stock is owned by institutional investors.

Masco Trading Down 10.1 %

MAS stock traded down $7.16 during trading on Thursday, reaching $63.90. 1,319,443 shares of the stock were exchanged, compared to its average volume of 1,702,966. 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 firm has a market capitalization of $13.52 billion, a price-to-earnings ratio of 16.99, a P/E/G ratio of 1.94 and a beta of 1.24. The business has a 50 day moving average price of $74.73 and a 200-day moving average price of $77.73. Masco Co. has a 1 year low of $63.12 and a 1 year high of $86.70.

Remove Ads

Masco (NYSE:MAS - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The construction company reported $0.89 EPS for the quarter, beating the consensus estimate 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 last year, the firm posted $0.83 EPS. On average, research analysts predict that Masco Co. will post 4.34 earnings per share for the current year.

Masco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 21st were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.94%. This is an increase from Masco's previous quarterly dividend of $0.29. The ex-dividend date was Friday, February 21st. Masco's dividend payout ratio (DPR) is presently 32.98%.

Insider Activity at Masco

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MAS shares. Barclays raised their price target on Masco from $84.00 to $87.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Citigroup reduced their target price on shares of Masco from $82.00 to $77.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. Wells Fargo & Company lowered their price target on Masco from $85.00 to $82.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 4th. Jefferies Financial Group downgraded Masco from a "buy" rating to a "hold" rating and reduced their price target for the stock from $96.00 to $89.00 in a report on Monday, December 16th. Finally, Zelman & Associates upgraded shares of Masco to a "strong-buy" rating in a report on Friday, January 17th. Ten research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Masco has a consensus 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.