Wedge Capital Management L L P NC Sells 5,151 Shares of Masco Co. (NYSE:MAS)

Wedge Capital Management L L P NC cut its stake in shares of Masco Co. (NYSE:MAS - Free Report) by 3.5% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 141,209 shares of the construction company's stock after selling 5,151 shares during the period. Wedge Capital Management L L P NC owned approximately 0.07% of Masco worth $9,820,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC acquired a new stake in shares of Masco during the fourth quarter worth approximately $27,000. Kestra Investment Management LLC acquired a new position in Masco in the fourth quarter valued at approximately $30,000. Lee Danner & Bass Inc. bought a new position in Masco during the 4th quarter worth $42,000. GeoWealth Management LLC grew its position in shares of Masco by 89.0% during the fourth quarter. GeoWealth Management LLC now owns 684 shares of the construction company's stock worth $50,000 after acquiring an additional 322 shares during the last quarter. Finally, SRS Capital Advisors Inc. increased its stake in shares of Masco by 74.3% in the fourth quarter. SRS Capital Advisors Inc. now owns 774 shares of the construction company's stock valued at $56,000 after purchasing an additional 330 shares during the period. 93.91% of the stock is currently owned by hedge funds and other institutional investors.

Masco Stock Performance

MAS stock traded down $0.07 on Thursday, reaching $63.79. 1,668,622 shares of the company were exchanged, compared to its average volume of 1,809,803. The firm has a market capitalization of $13.46 billion, a PE ratio of 16.97, a PEG ratio of 1.94 and a beta of 1.19. Masco Co. has a 12 month low of $56.55 and a 12 month high of $86.70. The stock's fifty day moving average price is $62.58 and its 200 day moving average price is $70.92. The company has a debt-to-equity ratio of 20.74, a current ratio of 1.75 and a quick ratio of 1.15.

Masco (NYSE:MAS - Get Free Report) last released its earnings results on Wednesday, April 23rd. The construction company reported $0.87 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the business posted $0.93 EPS. The firm's quarterly revenue was down 6.5% on a year-over-year basis. On average, research analysts anticipate that Masco Co. will post 4.34 EPS for the current fiscal year.

Masco Announces Dividend

The company also recently disclosed 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. This represents a $1.24 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend was Friday, May 23rd. Masco's payout ratio is presently 33.88%.

Analysts Set New Price Targets

Several research firms recently weighed in on MAS. Royal Bank of Canada reduced their price objective on shares of 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 raised their target price on shares of Masco from $65.00 to $73.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 14th. Wall Street Zen lowered Masco from a "hold" rating to a "sell" rating in a research report on Friday, June 6th. Barclays set a $71.00 target price on shares of Masco and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Finally, Jefferies Financial Group decreased their target price on shares of Masco from $64.00 to $62.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Masco presently has an average rating of "Hold" and an average price target of $73.63.

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.