Handelsbanken Fonder AB Sells 10,339 Shares of Masco Co. (NYSE:MAS)

Handelsbanken Fonder AB cut its stake in shares of Masco Co. (NYSE:MAS - Free Report) by 16.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,849 shares of the construction company's stock after selling 10,339 shares during the quarter. Handelsbanken Fonder AB's holdings in Masco were worth $3,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Allworth Financial LP lifted its holdings in Masco by 17.3% in the 4th quarter. Allworth Financial LP now owns 901 shares of the construction company's stock worth $71,000 after buying an additional 133 shares during the period. Keybank National Association OH lifted its holdings in Masco by 3.8% in the 4th quarter. Keybank National Association OH now owns 4,165 shares of the construction company's stock worth $302,000 after buying an additional 151 shares during the period. VELA Investment Management LLC lifted its holdings in Masco by 2.5% in the 4th quarter. VELA Investment Management LLC now owns 7,914 shares of the construction company's stock worth $574,000 after buying an additional 194 shares during the period. M&T Bank Corp lifted its holdings in Masco by 1.7% in the 4th quarter. M&T Bank Corp now owns 12,065 shares of the construction company's stock worth $876,000 after buying an additional 205 shares during the period. Finally, Wedmont Private Capital lifted its holdings in Masco by 4.9% in the 1st quarter. Wedmont Private Capital now owns 4,472 shares of the construction company's stock worth $311,000 after buying an additional 208 shares during the period. 93.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Royal Bank of Canada dropped their price objective on Masco from $74.00 to $62.00 and set a "sector perform" rating for the company in a report on Thursday, April 24th. Wells Fargo & Company increased their price objective on Masco from $65.00 to $73.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 14th. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Masco in a research note on Wednesday, May 28th. Loop Capital set a $62.00 target price on Masco and gave the company a "hold" rating in a research note on Thursday, April 24th. Finally, Robert W. Baird lowered their target price on Masco from $72.00 to $70.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $73.63.

Masco Stock Down 3.1%

MAS stock traded down $2.00 on Friday, reaching $61.83. 1,762,728 shares of the company traded hands, compared to its average volume of 1,807,703. Masco Co. has a one year low of $56.55 and a one year high of $86.70. The company has a debt-to-equity ratio of 20.74, a current ratio of 1.75 and a quick ratio of 1.15. The company has a market cap of $13.04 billion, a P/E ratio of 16.44, a price-to-earnings-growth ratio of 1.94 and a beta of 1.19. The firm has a fifty day simple moving average of $62.70 and a 200-day simple moving average of $70.66.

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

Masco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Friday, May 23rd were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Friday, May 23rd. Masco's payout ratio is 33.88%.

About Masco

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.