Cary Street Partners Financial LLC Sells 4,192 Shares of Masco Corporation (NYSE:MAS)

Key Points

• Cary Street Partners Financial LLC reduced its stake in Masco Corporation by 11.9%, selling 4,192 shares and now holding 30,914 shares valued at approximately $2.15 million.
• Several institutional investors increased their positions in Masco, with Northern Trust Corp boosting its holdings by 9.5% and Invesco Ltd. raising its stake by 14.7% in the last quarter.
• Masco Corporation declared a quarterly dividend of $0.31, which will be distributed to shareholders on August 25th, representing an annual yield of 1.8%.

Cary Street Partners Financial LLC cut its holdings in Masco Corporation (NYSE:MAS - Free Report) by 11.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,914 shares of the construction company's stock after selling 4,192 shares during the quarter. Cary Street Partners Financial LLC's holdings in Masco were worth $2,150,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MAS. Northern Trust Corp boosted its holdings in shares of Masco by 9.5% in the 4th quarter. Northern Trust Corp now owns 3,900,643 shares of the construction company's stock valued at $283,070,000 after buying an additional 337,164 shares in the last quarter. Invesco Ltd. boosted its stake 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 acquiring an additional 360,931 shares in the last quarter. Deutsche Bank AG grew its holdings in Masco by 12.4% in the fourth quarter. Deutsche Bank AG now owns 2,762,250 shares of the construction company's stock worth $200,456,000 after purchasing an additional 305,156 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Masco by 6.1% during the fourth quarter. Ameriprise Financial Inc. now owns 2,463,217 shares of the construction company's stock worth $178,756,000 after purchasing an additional 142,318 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Masco by 0.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,915,852 shares of the construction company's stock valued at $139,033,000 after purchasing an additional 7,266 shares during the last quarter. 93.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MAS. Loop Capital reissued a "hold" rating and issued a $73.00 price target (up previously from $62.00) on shares of Masco in a report on Monday. Barclays lifted their target price on shares of Masco from $77.00 to $78.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Oppenheimer set a $79.00 price target on shares of Masco and gave the stock an "outperform" rating in a report on Monday. UBS Group reissued a "buy" rating and set a $80.00 price objective (down from $91.00) on shares of Masco in a report on Thursday, April 24th. Finally, Robert W. Baird downgraded Masco from an "outperform" rating to a "neutral" rating and set a $70.00 target price on the stock. in a research report on Tuesday, July 22nd. Twelve analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $74.13.

Masco Price Performance

Shares of NYSE MAS opened at $69.39 on Thursday. The company has a debt-to-equity ratio of 19.63, a current ratio of 1.82 and a quick ratio of 1.14. The stock has a market capitalization of $14.53 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 2.52 and a beta of 1.16. The firm's 50 day simple moving average is $65.07 and its 200-day simple moving average is $67.93. Masco Corporation has a 12 month low of $56.55 and a 12 month high of $86.70.

Masco (NYSE:MAS - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The construction company reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.08 by $0.22. Masco had a net margin of 10.51% and a return on equity of 1,519.31%. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2 billion. During the same period in the prior year, the firm posted $1.20 earnings per share. The firm's quarterly revenue was down 1.9% compared to the same quarter last year. Analysts expect that Masco Corporation will post 4.34 EPS for the current year.

Masco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Friday, August 8th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $1.24 dividend on an annualized basis and a yield of 1.8%. Masco's dividend payout ratio is presently 32.89%.

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.

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