IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 6,604 Shares of Masco Corporation (NYSE:MAS)

Key Points

• IQ EQ FUND MANAGEMENT IRELAND Ltd has reduced its stake in Masco Corporation by 33.5%, owning 13,129 shares valued at approximately $913,000 after selling 6,604 shares in the first quarter.
• Masco reported $1.30 earnings per share for the last quarter, exceeding expectations and highlighting a revenue of $2.05 billion, although this represented a 1.9% decline compared to the previous year.
• Masco recently announced a quarterly dividend of $0.31 per share, with an annual yield of 1.8% and a payout ratio of 32.89%.

IQ EQ FUND MANAGEMENT IRELAND Ltd decreased its holdings in shares of Masco Corporation (NYSE:MAS - Free Report) by 33.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,129 shares of the construction company's stock after selling 6,604 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Masco were worth $913,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of MAS. Franklin Resources Inc. boosted its holdings in Masco by 5.1% in the 4th quarter. Franklin Resources Inc. now owns 348,847 shares of the construction company's stock worth $25,316,000 after buying an additional 16,964 shares during the period. World Investment Advisors boosted its holdings in Masco by 111.9% in the 4th quarter. World Investment Advisors now owns 5,068 shares of the construction company's stock worth $368,000 after buying an additional 2,676 shares during the period. Wells Fargo & Company MN boosted its holdings in Masco by 1.1% in the 4th quarter. Wells Fargo & Company MN now owns 345,374 shares of the construction company's stock worth $25,064,000 after buying an additional 3,591 shares during the period. Resona Asset Management Co. Ltd. bought a new position in Masco in the 4th quarter worth $4,554,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Masco in the 4th quarter worth $255,000. Institutional investors own 93.91% of the company's stock.

Masco Price Performance

Shares of NYSE MAS traded down $0.04 during mid-day trading on Friday, hitting $69.31. 1,435,676 shares of the company's stock traded hands, compared to its average volume of 2,568,429. The company's 50-day moving average is $65.33 and its two-hundred day moving average is $67.80. 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 company has a market capitalization of $14.51 billion, a P/E ratio of 18.38, a PEG ratio of 2.53 and a beta of 1.16. Masco Corporation has a 1 year low of $56.55 and a 1 year high of $86.70.

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

Masco Announces Dividend

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

Analyst Ratings Changes

MAS has been the subject of several recent analyst reports. Wall Street Zen raised shares of Masco from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Oppenheimer set a $79.00 target price on shares of Masco and gave the stock an "outperform" rating in a report on Monday, August 4th. Robert W. Baird downgraded shares of Masco from an "outperform" rating to a "neutral" rating and set a $70.00 target price for the company. in a report on Tuesday, July 22nd. Jefferies Financial Group dropped their target price on shares of Masco from $64.00 to $62.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Masco from $65.00 to $74.00 and gave the company a "neutral" rating in a report on Monday, August 4th. Twelve equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $74.13.

Masco Company 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.