Norges Bank Purchases New Position in Masco Co. (NYSE:MAS)

Norges Bank purchased a new stake in shares of Masco Co. (NYSE:MAS - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,781,805 shares of the construction company's stock, valued at approximately $129,306,000. Norges Bank owned about 0.83% of Masco at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC increased its position in Masco by 9.6% during the 3rd quarter. FMR LLC now owns 465,848 shares of the construction company's stock valued at $39,103,000 after purchasing an additional 40,731 shares during the period. Quantbot Technologies LP increased its position in shares of Masco by 4,498.9% during the third quarter. Quantbot Technologies LP now owns 8,094 shares of the construction company's stock valued at $679,000 after buying an additional 7,918 shares during the period. Glenmede Trust Co. NA raised its stake in Masco by 10.8% in the third quarter. Glenmede Trust Co. NA now owns 15,488 shares of the construction company's stock worth $1,300,000 after buying an additional 1,508 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in Masco by 8.2% in the third quarter. Public Sector Pension Investment Board now owns 9,215 shares of the construction company's stock worth $774,000 after buying an additional 700 shares during the period. Finally, Captrust Financial Advisors boosted its position in Masco by 43.1% during the 3rd quarter. Captrust Financial Advisors now owns 38,631 shares of the construction company's stock valued at $3,243,000 after acquiring an additional 11,637 shares in the last quarter. Hedge funds and other institutional investors own 93.91% of the company's stock.

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Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Masco in a report on Tuesday. They set a "hold" rating and a $71.00 target price for the company. Royal Bank of Canada reissued a "sector perform" rating and issued a $74.00 target price on shares of Masco in a report on Wednesday, February 12th. Citigroup reduced their price target on Masco from $82.00 to $77.00 and set a "neutral" rating for the company in a report on Monday, January 6th. Zelman & Associates upgraded shares of Masco to a "strong-buy" rating in a research note on Friday, January 17th. Finally, Wells Fargo & Company reduced their price objective on shares of Masco from $85.00 to $82.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. Ten equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Masco has an average rating of "Hold" and an average price target of $85.30.

Masco Stock Performance

Shares of NYSE MAS traded down $1.27 during midday trading on Friday, hitting $62.89. 2,649,765 shares of the company's stock traded hands, compared to its average volume of 1,764,793. The firm has a fifty day moving average of $74.43 and a 200 day moving average of $77.64. Masco Co. has a 1 year low of $60.29 and a 1 year high of $86.70. The company has a debt-to-equity ratio of 20.74, a quick ratio of 1.15 and a current ratio of 1.75. The stock has a market capitalization of $13.31 billion, a price-to-earnings ratio of 16.72, a price-to-earnings-growth ratio of 1.94 and a beta of 1.24.

Masco (NYSE:MAS - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The construction company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.01. Masco had a return on equity of 838.32% and a net margin of 10.50%. During the same quarter last year, the firm earned $0.83 earnings per share. On average, analysts forecast 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. Stockholders of record on Friday, February 21st were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.97%. This is an increase from Masco's previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, February 21st. Masco's payout ratio is presently 32.98%.

Insider Activity

In other news, CEO Keith J. Allman sold 21,723 shares of Masco stock in a transaction dated 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 directly owns 60,267 shares of the company's stock, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, VP Renee Straber sold 3,139 shares of the business's 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 completion of the sale, the vice president now owns 33,027 shares in the company, valued at $2,370,678.06. This represents a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company's stock.

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.