Abacus FCF Advisors LLC Sells 14,993 Shares of Masco Co. (NYSE:MAS)

Abacus FCF Advisors LLC lessened its position in shares of Masco Co. (NYSE:MAS - Free Report) by 29.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,323 shares of the construction company's stock after selling 14,993 shares during the period. Abacus FCF Advisors LLC's holdings in Masco were worth $2,456,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Allworth Financial LP boosted its stake in Masco by 17.3% in the 4th quarter. Allworth Financial LP now owns 901 shares of the construction company's stock valued at $71,000 after purchasing an additional 133 shares during the period. Equitable Trust Co. lifted its holdings in shares of Masco by 1.7% during the fourth quarter. Equitable Trust Co. now owns 8,089 shares of the construction company's stock worth $587,000 after buying an additional 136 shares in the last quarter. Keybank National Association OH boosted its position in shares of Masco by 3.8% in the fourth quarter. Keybank National Association OH now owns 4,165 shares of the construction company's stock valued at $302,000 after acquiring an additional 151 shares during the period. VELA Investment Management LLC grew its stake in shares of Masco by 2.5% in the fourth quarter. VELA Investment Management LLC now owns 7,914 shares of the construction company's stock valued at $574,000 after acquiring an additional 194 shares in the last quarter. Finally, M&T Bank Corp grew its stake in shares of Masco by 1.7% in the fourth quarter. M&T Bank Corp now owns 12,065 shares of the construction company's stock valued at $876,000 after acquiring an additional 205 shares in the last quarter. Institutional investors and hedge funds own 93.91% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on MAS shares. Evercore ISI cut their price objective 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. Wall Street Zen cut Masco from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Barclays set a $71.00 price objective on Masco and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Robert W. Baird dropped their price objective on Masco from $72.00 to $70.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Finally, Wells Fargo & Company increased their target price on Masco from $65.00 to $73.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Masco presently has an average rating of "Hold" and an average price target of $73.63.

Masco Price Performance

Shares of NYSE MAS traded down $0.07 during midday trading on Thursday, reaching $63.79. 1,654,860 shares of the company were exchanged, compared to its average volume of 1,809,803. The company has a quick ratio of 1.15, a current ratio of 1.75 and a debt-to-equity ratio of 20.74. Masco Co. has a one year low of $56.55 and a one year high of $86.70. The stock has a market cap of $13.46 billion, a P/E ratio of 16.97, a PEG ratio of 1.94 and a beta of 1.19. The stock's 50-day moving average price is $62.58 and its 200-day moving average price is $70.92.

Masco (NYSE:MAS - Get Free Report) last announced its quarterly 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). Masco had a net margin of 10.50% and a return on equity of 838.32%. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the previous year, the business posted $0.93 earnings per share. The business's revenue for the quarter was down 6.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Masco Co. will post 4.34 earnings per share for the current fiscal year.

Masco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Friday, May 23rd were issued a dividend of $0.31 per share. The ex-dividend date was Friday, May 23rd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.94%. Masco's dividend payout ratio (DPR) is presently 33.88%.

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.