Massachusetts Financial Services Co. MA Sells 2,662,777 Shares of Masco Co. (NYSE:MAS)

Massachusetts Financial Services Co. MA lessened its holdings in Masco Co. (NYSE:MAS - Free Report) by 27.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,167,946 shares of the construction company's stock after selling 2,662,777 shares during the quarter. Massachusetts Financial Services Co. MA owned 3.32% of Masco worth $601,677,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. New Covenant Trust Company N.A. acquired a new position in Masco during the first quarter worth $25,000. Innealta Capital LLC acquired a new position in shares of Masco in the second quarter valued at $25,000. Family Firm Inc. acquired a new position in shares of Masco in the second quarter valued at $30,000. Capital Performance Advisors LLP acquired a new position in shares of Masco in the third quarter valued at $38,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Masco in the third quarter valued at $43,000. Institutional investors own 93.91% of the company's stock.

Insider Activity

In other news, VP Kenneth G. Cole sold 37,814 shares of the company's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $78.32, for a total transaction of $2,961,592.48. Following the sale, the vice president now directly owns 36,980 shares in the company, valued at $2,896,273.60. This represents a 50.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on MAS. Evercore ISI upped their price objective on shares of Masco from $78.00 to $82.00 and gave the company an "in-line" rating in a report on Wednesday, October 30th. Wells Fargo & Company upped their price target on shares of Masco from $90.00 to $92.00 and gave the company an "overweight" rating in a research note on Monday, October 7th. Robert W. Baird decreased their price target on shares of Masco from $95.00 to $94.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 30th. StockNews.com downgraded shares of Masco from a "buy" rating to a "hold" rating in a research note on Friday, November 15th. Finally, UBS Group upped their price objective on shares of Masco from $89.00 to $94.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Masco presently has a consensus rating of "Hold" and a consensus target price of $85.96.

Masco Stock Performance

Shares of NYSE:MAS traded up $0.68 during midday trading on Friday, reaching $79.01. The company had a trading volume of 1,260,432 shares, compared to its average volume of 1,799,328. The company's 50 day moving average price is $81.76 and its 200 day moving average price is $75.43. The company has a current ratio of 1.83, a quick ratio of 1.21 and a debt-to-equity ratio of 20.74. The stock has a market cap of $17.05 billion, a P/E ratio of 21.01, a P/E/G ratio of 2.47 and a beta of 1.24. Masco Co. has a 52-week low of $58.91 and a 52-week high of $86.70.

Masco (NYSE:MAS - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.08 earnings per share for the quarter, hitting analysts' consensus estimates of $1.08. Masco had a net margin of 10.54% and a return on equity of 615.54%. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $2 billion. During the same period in the previous year, the firm earned $1.00 EPS. The firm's quarterly revenue was up .2% on a year-over-year basis. As a group, sell-side analysts anticipate that Masco Co. will post 4.09 EPS for the current fiscal year.

Masco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Friday, November 8th. Masco's dividend payout ratio is currently 30.85%.

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.