Millennium Management LLC Has $40.29 Million Stake in Masco Co. (NYSE:MAS)

Millennium Management LLC grew its holdings in shares of Masco Co. (NYSE:MAS - Free Report) by 94.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 555,165 shares of the construction company's stock after acquiring an additional 268,950 shares during the quarter. Millennium Management LLC owned about 0.26% of Masco worth $40,288,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new stake in shares of Masco in the 4th quarter worth $27,000. Kestra Investment Management LLC acquired a new stake in shares of Masco during the fourth quarter worth $30,000. Lee Danner & Bass Inc. acquired a new stake in shares of Masco during the fourth quarter worth $42,000. GeoWealth Management LLC raised 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 purchasing an additional 322 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Masco by 26.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 703 shares of the construction company's stock worth $51,000 after purchasing an additional 148 shares during the period. Institutional investors own 93.91% of the company's stock.

Masco Stock Down 4.4%

Shares of MAS traded down $2.92 during trading hours on Wednesday, hitting $62.98. 2,381,912 shares of the company were exchanged, compared to its average volume of 1,794,392. The company has a market cap of $13.29 billion, a PE ratio of 16.75, a PEG ratio of 1.94 and a beta of 1.23. The firm's 50 day moving average is $64.66 and its 200-day moving average is $72.67. Masco Co. has a 52 week low of $56.55 and a 52 week high of $86.70. The company has a debt-to-equity ratio of 20.74, a quick ratio of 1.15 and a current ratio of 1.75.

Masco (NYSE:MAS - Get Free Report) last released its earnings results 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 business had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.84 billion. Masco had a net margin of 10.50% and a return on equity of 838.32%. The business's quarterly revenue was down 6.5% compared to the same quarter last year. During the same period last year, the business earned $0.93 EPS. On average, equities research analysts forecast that Masco Co. will post 4.34 EPS for the current fiscal year.

Masco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Friday, May 23rd will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Friday, May 23rd. Masco's dividend payout ratio (DPR) is currently 33.88%.

Analyst Ratings Changes

MAS has been the topic of a number of recent analyst reports. 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 report on Thursday, April 24th. Wells Fargo & Company upped their price target on Masco from $65.00 to $73.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 14th. Royal Bank of Canada lowered their target price on Masco from $74.00 to $62.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 24th. Evercore ISI lowered 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, Barclays set a $71.00 target price on Masco and gave the company an "overweight" rating in a research note on Thursday, April 24th. Ten equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $73.63.

Insiders Place Their Bets

In related news, CEO Keith J. Allman sold 21,723 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $76.36, for a total transaction of $1,658,768.28. Following the completion of the transaction, the chief executive officer now owns 60,267 shares in the company, valued at $4,601,988.12. This trade represents a 26.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Renee Straber sold 3,139 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $71.78, for a total value of $225,317.42. Following the transaction, the vice president now owns 33,027 shares of the company's stock, valued at $2,370,678.06. This trade represents a 8.68% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company's stock.

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.