Forsta AP Fonden Has $2.50 Million Holdings in Masco Corporation (NYSE:MAS)

Key Points

• Forsta AP Fonden reduced its holdings in Masco Corporation by 65.2% during the first quarter, owning 35,900 shares worth approximately $2.50 million as of its latest SEC filing.
• Various institutional investors are actively acquiring Masco shares, with Global X Japan Co. Ltd. increasing its stake by 120.2% during the same period.
• Masco Corporation has reported quarterly earnings of $1.30 per share, exceeding analysts' expectations, but noted a 1.9% decline in year-over-year revenue.

Forsta AP Fonden lessened its position in shares of Masco Corporation (NYSE:MAS - Free Report) by 65.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,900 shares of the construction company's stock after selling 67,400 shares during the quarter. Forsta AP Fonden's holdings in Masco were worth $2,496,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Global X Japan Co. Ltd. grew its holdings in shares of Masco by 120.2% during the 1st quarter. Global X Japan Co. Ltd. now owns 381 shares of the construction company's stock worth $26,000 after purchasing an additional 208 shares in the last quarter. Alpine Bank Wealth Management acquired a new stake in shares of Masco during the 1st quarter worth approximately $29,000. Costello Asset Management INC acquired a new stake in shares of Masco during the 1st quarter worth approximately $31,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Masco during the 1st quarter worth approximately $33,000. Finally, GeoWealth Management LLC grew its holdings in shares of Masco by 89.0% during the 4th quarter. GeoWealth Management LLC now owns 684 shares of the construction company's stock worth $50,000 after purchasing an additional 322 shares in the last quarter. Institutional investors and hedge funds own 93.91% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. UBS Group restated a "buy" rating and set a $80.00 target price (down previously from $91.00) on shares of Masco in a research report on Thursday, April 24th. Oppenheimer set a $79.00 price target on Masco and gave the company an "outperform" rating in a research note on Monday, August 4th. Robert W. Baird lowered Masco from an "outperform" rating to a "neutral" rating and set a $70.00 price target on the stock. in a research note on Tuesday, July 22nd. Loop Capital reaffirmed a "hold" rating and issued a $73.00 price target (up previously from $62.00) on shares of Masco in a research note on Monday, August 4th. Finally, Baird R W lowered Masco from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 22nd. Twelve equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $74.13.

Masco Trading Down 0.5%

MAS stock opened at $68.94 on Tuesday. The company has a market cap of $14.43 billion, a P/E ratio of 18.29, a PEG ratio of 2.53 and a beta of 1.16. Masco Corporation has a twelve month low of $56.55 and a twelve month high of $86.70. The company has a quick ratio of 1.14, a current ratio of 1.82 and a debt-to-equity ratio of 19.63. The business has a fifty day moving average of $65.48 and a 200-day moving average of $67.57.

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

Masco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Friday, August 8th will be given a dividend of $0.31 per share. The ex-dividend date is Friday, August 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.8%. Masco's 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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