Pictet Asset Management Holding SA Cuts Position in Masco Co. (NYSE:MAS)

Pictet Asset Management Holding SA trimmed its position in Masco Co. (NYSE:MAS - Free Report) by 4.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,512,259 shares of the construction company's stock after selling 113,436 shares during the quarter. Pictet Asset Management Holding SA owned approximately 1.16% of Masco worth $182,315,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new position in Masco during the fourth quarter worth about $27,000. ORG Wealth Partners LLC purchased a new position in shares of Masco during the fourth quarter worth about $27,000. Kestra Investment Management LLC bought a new position in shares of Masco in the fourth quarter worth approximately $30,000. Lee Danner & Bass Inc. purchased a new stake in Masco in the fourth quarter valued at approximately $42,000. Finally, MassMutual Private Wealth & Trust FSB lifted its position in Masco by 26.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 703 shares of the construction company's stock valued at $51,000 after purchasing an additional 148 shares during the last quarter. 93.91% of the stock is currently owned by institutional investors.

Masco Trading Up 1.3 %

Shares of NYSE MAS traded up $0.92 during trading hours on Wednesday, hitting $70.76. The company's stock had a trading volume of 279,935 shares, compared to its average volume of 1,695,030. Masco Co. has a 12 month low of $63.81 and a 12 month high of $86.70. The stock has a market cap of $15.00 billion, a price-to-earnings ratio of 18.82, a P/E/G ratio of 1.94 and a beta of 1.24. 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 business has a 50-day simple moving average of $74.89 and a 200-day simple moving average of $77.78.

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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, topping analysts' consensus estimates 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 period last year, the company posted $0.83 EPS. On average, analysts anticipate that Masco Co. will post 4.34 earnings per share for the current fiscal year.

Masco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 21st were issued a $0.31 dividend. The ex-dividend date of this dividend was Friday, February 21st. This is a positive change from Masco's previous quarterly dividend of $0.29. This represents a $1.24 annualized dividend and a yield of 1.75%. Masco's dividend payout ratio is 32.98%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on MAS shares. Jefferies Financial Group cut shares of Masco from a "buy" rating to a "hold" rating and lowered their price objective for the company from $96.00 to $89.00 in a research report on Monday, December 16th. Zelman & Associates raised Masco to a "strong-buy" rating in a research note on Friday, January 17th. UBS Group cut their price objective on Masco from $94.00 to $91.00 and set a "buy" rating for the company in a report on Wednesday, February 12th. Royal Bank of Canada reissued a "sector perform" rating and set a $74.00 price objective on shares of Masco in a report on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Masco in a research note on Tuesday. They issued a "hold" rating and a $71.00 target price for the company. Ten research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Masco presently has a consensus rating of "Hold" and a consensus target price of $85.30.

Insider Activity

In other news, VP Renee Straber sold 3,139 shares of the firm's stock in a transaction that occurred on 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 transaction, the vice president now owns 33,027 shares in the company, valued at $2,370,678.06. This trade represents a 8.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Keith J. Allman sold 21,723 shares of Masco stock in a transaction that occurred on Wednesday, February 26th. The shares were 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 in the company, valued at $4,601,988.12. This represents a 26.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company's stock.

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.