Massachusetts Financial Services Co. MA Sells 463,679 Shares of Masco Corporation (NYSE:MAS)

Massachusetts Financial Services Co. MA lowered its holdings in Masco Corporation (NYSE:MAS - Free Report) by 7.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,383,693 shares of the construction company's stock after selling 463,679 shares during the quarter. Massachusetts Financial Services Co. MA owned about 2.55% of Masco worth $374,382,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Masco by 10.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,008 shares of the construction company's stock valued at $1,580,000 after acquiring an additional 2,184 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Masco by 2.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,007 shares of the construction company's stock valued at $769,000 after acquiring an additional 270 shares during the period. Asset Management One Co. Ltd. lifted its stake in shares of Masco by 11.0% during the first quarter. Asset Management One Co. Ltd. now owns 86,131 shares of the construction company's stock valued at $5,990,000 after acquiring an additional 8,508 shares during the period. State of Alaska Department of Revenue lifted its stake in Masco by 1.0% in the first quarter. State of Alaska Department of Revenue now owns 24,832 shares of the construction company's stock valued at $1,726,000 after buying an additional 235 shares during the period. Finally, Hillsdale Investment Management Inc. lifted its stake in Masco by 5,050.0% in the fourth quarter. Hillsdale Investment Management Inc. now owns 10,300 shares of the construction company's stock valued at $747,000 after buying an additional 10,100 shares during the period. Institutional investors and hedge funds own 93.91% of the company's stock.

Masco Stock Up 1.4%

Shares of NYSE:MAS traded up $0.92 during mid-day trading on Thursday, reaching $65.90. 1,216,201 shares of the stock were exchanged, compared to its average volume of 1,827,120. The company has a market cap of $13.90 billion, a P/E ratio of 18.01, a P/E/G ratio of 2.45 and a beta of 1.19. Masco Corporation has a one year low of $56.55 and a one year high of $86.70. The stock's 50 day simple moving average is $64.23 and its 200-day simple moving average is $68.57.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.05). The firm had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.84 billion. Masco had a return on equity of 1,320.76% and a net margin of 10.30%. The firm's quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.93 earnings per share. Analysts anticipate that Masco Corporation will post 4.34 EPS for the current fiscal year.

Masco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Friday, May 23rd were paid a $0.31 dividend. The ex-dividend date was Friday, May 23rd. This represents a $1.24 dividend on an annualized basis and a yield of 1.88%. Masco's dividend payout ratio is 33.88%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Robert W. Baird cut their target price on Masco from $72.00 to $70.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Wall Street Zen raised Masco from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. The Goldman Sachs Group cut their target price on Masco from $82.00 to $73.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Evercore ISI cut their target price on Masco from $82.00 to $71.00 and set an "in-line" rating on the stock in a research note on Thursday, April 24th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Masco in a research note on Wednesday, May 28th. Ten equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Masco has a consensus rating of "Hold" and a consensus price target of $74.03.

Masco 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.