Masco Corporation $MAS Holdings Cut by Eurizon Capital SGR S.p.A.

Key Points

• Eurizon Capital SGR cut its Masco stake by 58% in the third quarter, selling 934,756 shares; it held 678,267 shares worth about $45.7 million at the latest filing.
• Masco reported quarterly EPS of $1.19, beating estimates of $1.02, while revenue rose 2.6% year over year to $1.97 billion.
• Analysts’ consensus rating was Hold, with an average price target of $81.82; Masco also announced a $0.32 quarterly dividend, equal to a 1.5% yield.

Eurizon Capital SGR S.p.A. lessened its stake in shares of Masco Corporation (NYSE:MAS - Free Report) by 58.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 678,267 shares of the construction company's stock after selling 934,756 shares during the quarter. Eurizon Capital SGR S.p.A. owned about 0.35% of Masco worth $45,726,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Masco in the 2nd quarter worth approximately $1,278,943,000. Bank of America Corp DE bought a new position in shares of Masco during the 2nd quarter valued at $178,424,000. Bank of New York Mellon Corp bought a new position in shares of Masco during the 2nd quarter valued at $156,668,000. Deutsche Bank AG bought a new stake in shares of Masco in the second quarter worth $149,673,000. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Masco by 828.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,071,592 shares of the construction company's stock worth $64,692,000 after acquiring an additional 956,204 shares during the period. 93.91% of the stock is owned by hedge funds and other institutional investors.

Masco Stock Up 0.3%

MAS opened at $84.72 on Friday. Masco Corporation has a fifty-two week low of $58.16 and a fifty-two week high of $87.86. The company has a debt-to-equity ratio of 109.07, a quick ratio of 1.20 and a current ratio of 1.83. The stock has a market cap of $16.33 billion, a price-to-earnings ratio of 18.34, a price-to-earnings-growth ratio of 1.87 and a beta of 1.21. The firm's fifty day moving average is $73.65 and its 200 day moving average is $71.62.

Masco (NYSE:MAS - Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The construction company reported $1.19 EPS for the quarter, beating analysts' consensus estimates of $1.02 by $0.17. Masco had a negative return on equity of 1,807.69% and a net margin of 12.07%. The business had revenue of $1.97 billion for the quarter, compared to analysts' expectations of $1.93 billion. During the same period last year, the firm earned $0.97 earnings per share. The business's quarterly revenue was up 2.6% on a year-over-year basis. On average, sell-side analysts forecast that Masco Corporation will post 4.72 earnings per share for the current fiscal year.

Masco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Friday, November 6th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, November 6th. Masco's payout ratio is 27.71%.

Insiders Place Their Bets

In related news, VP Kenneth Cole sold 34,470 shares of the company's stock in a transaction on Friday, October 30th. The shares were sold at an average price of $80.64, for a total transaction of $2,779,660.80. Following the sale, the vice president owned 39,700 shares of the company's stock, valued at $3,201,408. This represents a 46.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.55% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MAS. Wells Fargo & Company upped their price target on shares of Masco from $82.00 to $85.00 and gave the company an "overweight" rating in a research report on Thursday, October 29th. Robert W. Baird raised their price objective on shares of Masco from $80.00 to $82.00 and gave the stock a "neutral" rating in a report on Thursday, October 29th. Bank of America restated an "underperform" rating on shares of Masco in a research report on Thursday, October 29th. DA Davidson set a $82.00 target price on shares of Masco in a report on Thursday, October 29th. Finally, Melius Research initiated coverage on shares of Masco in a research report on Tuesday, October 6th. They issued a "hold" rating and a $75.00 price target on the stock. Seven analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Masco has an average rating of "Hold" and an average target price of $81.82.

Masco Profile

Masco Corporation is a manufacturer of home improvement and building products, serving residential construction, repair and remodeling markets. Its products are sold primarily in North America and Europe, as well as in other markets around the world. The company's Plumbing Products include faucets, showering and bathing products, and related fixtures and accessories. Its brands include Delta Faucet, Brizo, Peerless and hansgrohe. Masco also makes decorative architectural products, including paints and coatings sold under the BEHR and KILZ brands.

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