Westpac Banking Corp Sells 19,100 Shares of Masco Co. (NYSE:MAS)

Westpac Banking Corp reduced its stake in Masco Co. (NYSE:MAS - Free Report) by 48.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,243 shares of the construction company's stock after selling 19,100 shares during the period. Westpac Banking Corp's holdings in Masco were worth $1,469,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. ORG Wealth Partners LLC bought a new position in shares of Masco in the 4th quarter worth approximately $27,000. Golden State Wealth Management LLC purchased a new stake in Masco in the fourth quarter worth $27,000. Kestra Investment Management LLC bought a new position in Masco in the fourth quarter worth $30,000. Lee Danner & Bass Inc. purchased a new position in Masco during the fourth quarter valued at $42,000. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Masco by 26.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 703 shares of the construction company's stock valued at $51,000 after buying an additional 148 shares in the last quarter. 93.91% of the stock is currently owned by hedge funds and other institutional investors.

Masco Stock Performance

Shares of Masco stock traded up $5.08 during trading hours on Wednesday, reaching $63.81. 4,300,238 shares of the stock traded hands, compared to its average volume of 1,700,516. Masco Co. has a one year low of $57.27 and a one year high of $86.70. The firm has a market capitalization of $13.51 billion, a price-to-earnings ratio of 16.97, a P/E/G ratio of 1.94 and a beta of 1.24. The company has a quick ratio of 1.15, a current ratio of 1.75 and a debt-to-equity ratio of 20.74. The company has a 50 day moving average price of $72.17 and a 200 day moving average price of $76.78.

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Masco (NYSE:MAS - Get Free Report) last announced its earnings results on Tuesday, February 11th. The construction company reported $0.89 EPS for the quarter, beating analysts' consensus estimates 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 in the previous year, the company earned $0.83 earnings per share. On average, equities research analysts expect that Masco Co. will post 4.34 earnings per share for the current fiscal year.

Masco Increases Dividend

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

Insider Buying and Selling at Masco

In related news, CEO Keith J. Allman sold 21,723 shares of Masco stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $76.36, for a total transaction of $1,658,768.28. Following the transaction, the chief executive officer now owns 60,267 shares in the company, valued at approximately $4,601,988.12. The trade was a 26.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Renee Straber sold 3,139 shares of the stock in a transaction 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 sale, the vice president now owns 33,027 shares of the company's stock, valued at $2,370,678.06. The trade was a 8.68 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MAS shares. Citigroup lowered their price target on shares of Masco from $82.00 to $77.00 and set a "neutral" rating for the company in a research report on Monday, January 6th. Barclays lowered their target price on shares of Masco from $87.00 to $75.00 and set an "overweight" rating for the company in a report on Tuesday. Deutsche Bank Aktiengesellschaft began coverage on Masco in a research note on Tuesday, April 1st. They issued a "hold" rating and a $71.00 price target on the stock. Zelman & Associates upgraded Masco to a "strong-buy" rating in a research note on Friday, January 17th. Finally, Jefferies Financial Group cut Masco from a "buy" rating to a "hold" rating and cut their target price for the stock from $96.00 to $89.00 in a research note on Monday, December 16th. Ten equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $84.50.

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.