Comerica Bank Cuts Stock Position in Masco Co. (NYSE:MAS)

Comerica Bank lessened its stake in shares of Masco Co. (NYSE:MAS - Free Report) by 6.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 107,944 shares of the construction company's stock after selling 7,296 shares during the period. Comerica Bank owned approximately 0.05% of Masco worth $7,834,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MAS. Geode Capital Management LLC boosted its holdings in shares of Masco by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 5,129,771 shares of the construction company's stock valued at $371,265,000 after buying an additional 58,739 shares in the last quarter. Northern Trust Corp grew its holdings in Masco by 9.5% during the fourth quarter. Northern Trust Corp now owns 3,900,643 shares of the construction company's stock worth $283,070,000 after acquiring an additional 337,164 shares during the period. Van ECK Associates Corp lifted its stake in shares of Masco by 10.2% in the 4th quarter. Van ECK Associates Corp now owns 3,250,400 shares of the construction company's stock valued at $235,881,000 after purchasing an additional 299,520 shares during the period. Nordea Investment Management AB boosted its stake in shares of Masco by 21.0% during the 4th quarter. Nordea Investment Management AB now owns 2,997,839 shares of the construction company's stock worth $218,063,000 after acquiring an additional 520,555 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Masco by 14.7% in the fourth quarter. Invesco Ltd. now owns 2,821,629 shares of the construction company's stock valued at $204,766,000 after purchasing an additional 360,931 shares during the period. 93.91% of the stock is owned by hedge funds and other institutional investors.

Masco Stock Performance

Shares of MAS stock traded up $0.42 on Friday, hitting $62.13. 1,244,428 shares of the stock were exchanged, compared to its average volume of 1,750,270. The firm has a market capitalization of $13.11 billion, a PE ratio of 16.52, a P/E/G ratio of 1.94 and a beta of 1.23. The company has a current ratio of 1.75, a quick ratio of 1.15 and a debt-to-equity ratio of 20.74. The firm's 50 day moving average is $65.61 and its two-hundred day moving average is $73.53. Masco Co. has a one year low of $56.55 and a one year high of $86.70.

Masco (NYSE:MAS - Get Free Report) last released its earnings results on Wednesday, April 23rd. The construction company reported $0.87 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.05). The firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.84 billion. Masco had a net margin of 10.50% and a return on equity of 838.32%. The firm's revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.93 EPS. Sell-side analysts expect that Masco Co. will post 4.34 earnings per share for the current fiscal year.

Masco Increases Dividend

The business 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. The ex-dividend date was Friday, February 21st. This represents a $1.24 annualized dividend and a yield of 2.00%. This is a boost from Masco's previous quarterly dividend of $0.29. Masco's dividend payout ratio is currently 33.88%.

Insider Buying and Selling

In other news, CEO Keith J. Allman sold 21,723 shares of Masco stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $76.36, for a total transaction of $1,658,768.28. Following the completion of the sale, the chief executive officer now directly owns 60,267 shares in the company, valued at approximately $4,601,988.12. This trade represents a 26.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Renee Straber sold 3,139 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were 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. 0.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Barclays set a $71.00 price target on shares of Masco and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft began coverage on Masco in a research report on Tuesday, April 1st. They set a "hold" rating and a $71.00 price target for the company. Wells Fargo & Company cut their price objective on Masco from $82.00 to $65.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Evercore ISI lowered their price target on shares of Masco from $82.00 to $71.00 and set an "in-line" rating for the company in a report on Thursday, April 24th. Finally, Zelman & Associates raised Masco to a "strong-buy" rating in a report on Friday, January 17th. Ten 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 stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $73.10.

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.