Principal Financial Group Inc. Reduces Position in Masco Co. (NYSE:MAS)

Principal Financial Group Inc. decreased its holdings in Masco Co. (NYSE:MAS - Free Report) by 4.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 256,066 shares of the construction company's stock after selling 12,311 shares during the quarter. Principal Financial Group Inc. owned about 0.12% of Masco worth $17,072,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MAS. Norges Bank acquired a new stake in shares of Masco in the fourth quarter valued at about $122,144,000. Manning & Napier Advisors LLC acquired a new stake in shares of Masco during the 2nd quarter valued at approximately $82,363,000. Confluence Investment Management LLC purchased a new stake in shares of Masco during the 1st quarter worth approximately $78,181,000. Vanguard Group Inc. grew its holdings in shares of Masco by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 26,300,591 shares of the construction company's stock worth $2,074,591,000 after acquiring an additional 721,117 shares during the period. Finally, Lazard Asset Management LLC increased its stake in Masco by 55.8% in the 1st quarter. Lazard Asset Management LLC now owns 1,538,952 shares of the construction company's stock valued at $121,391,000 after purchasing an additional 551,203 shares in the last quarter. Institutional investors and hedge funds own 93.91% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on MAS. Jefferies Financial Group upped their target price on Masco from $83.00 to $86.00 and gave the company a "buy" rating in a report on Wednesday, July 17th. Barclays lifted their target price on shares of Masco from $79.00 to $88.00 and gave the stock an "overweight" rating in a research report on Friday, July 26th. Citigroup cut their price objective on Masco from $73.00 to $66.00 and set a "neutral" rating for the company in a research report on Thursday, July 11th. BMO Capital Markets increased their target price on Masco from $75.00 to $78.00 and gave the company a "market perform" rating in a report on Wednesday, July 31st. Finally, Robert W. Baird upped their price objective on Masco from $84.00 to $88.00 and gave the company an "outperform" rating in a research report on Friday, July 26th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $77.58.

Masco Trading Down 1.2 %

MAS traded down $0.90 on Thursday, reaching $77.24. 920,393 shares of the company's stock were exchanged, compared to its average volume of 1,902,144. The company has a debt-to-equity ratio of 16.18, a quick ratio of 1.12 and a current ratio of 1.76. Masco Co. has a twelve month low of $47.66 and a twelve month high of $81.91. The company's 50 day moving average is $73.69 and its 200-day moving average is $72.76. The company has a market cap of $17.01 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 2.50 and a beta of 1.24.

Masco (NYSE:MAS - Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The construction company reported $1.20 earnings per share for the quarter, topping analysts' consensus estimates of $1.18 by $0.02. Masco had a net margin of 11.59% and a return on equity of 602.39%. The firm had revenue of $2.09 billion during the quarter, compared to analysts' expectations of $2.10 billion. During the same period in the prior year, the company earned $1.19 EPS. The firm's revenue was down 1.7% on a year-over-year basis. Equities analysts predict that Masco Co. will post 4.11 earnings per share for the current year.

Masco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 2nd were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend was Friday, August 2nd. Masco's dividend payout ratio is presently 28.43%.

Masco 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.