Oppenheimer & Co. Inc. Sells 18,119 Shares of Masco Corporation (NYSE:MAS)

Oppenheimer & Co. Inc. trimmed its stake in shares of Masco Corporation (NYSE:MAS - Free Report) by 33.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,149 shares of the construction company's stock after selling 18,119 shares during the period. Oppenheimer & Co. Inc.'s holdings in Masco were worth $2,514,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of MAS. Norges Bank acquired a new position in Masco in the fourth quarter valued at approximately $129,306,000. GAMMA Investing LLC increased its position in shares of Masco by 11,690.9% during the first quarter. GAMMA Investing LLC now owns 911,669 shares of the construction company's stock worth $63,397,000 after acquiring an additional 903,937 shares in the last quarter. Raymond James Financial Inc. bought a new position in Masco in the fourth quarter valued at $33,157,000. Freestone Grove Partners LP bought a new position in Masco in the fourth quarter valued at $30,678,000. Finally, Invesco Ltd. grew its position in Masco by 14.7% in the fourth quarter. Invesco Ltd. now owns 2,821,629 shares of the construction company's stock valued at $204,766,000 after purchasing an additional 360,931 shares in the last quarter. 93.91% of the stock is currently owned by institutional investors and hedge funds.

Masco Stock Up 0.9%

Shares of NYSE MAS opened at $63.78 on Friday. The firm has a market cap of $13.45 billion, a PE ratio of 17.43, a P/E/G ratio of 2.41 and a beta of 1.19. Masco Corporation has a 12-month low of $56.55 and a 12-month high of $86.70. The company's fifty day simple moving average is $62.78 and its 200 day simple moving average is $69.52. The company has a quick ratio of 1.09, a current ratio of 1.75 and a debt-to-equity ratio of 20.74.

Masco (NYSE:MAS - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The construction company reported $0.87 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.05). Masco had a return on equity of 1,320.76% and a net margin of 10.30%. The business had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the company earned $0.93 EPS. The company's revenue was down 6.5% on a year-over-year basis. As a group, sell-side analysts forecast that Masco Corporation will post 4.34 earnings per share for the current fiscal year.

Masco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Friday, May 23rd were issued a $0.31 dividend. 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 is presently 33.88%.

Wall Street Analyst Weigh In

A number of analysts have commented on MAS shares. Jefferies Financial Group cut their price target on shares of Masco from $64.00 to $62.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Evercore ISI decreased their target price on shares of Masco from $82.00 to $71.00 and set an "in-line" rating on the stock in a report on Thursday, April 24th. The Goldman Sachs Group decreased their target price on shares of Masco from $82.00 to $73.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. UBS Group reaffirmed a "buy" rating and set a $80.00 price target (down from $91.00) on shares of Masco in a report on Thursday, April 24th. Finally, Barclays set a $71.00 target price on shares of Masco and gave the stock an "overweight" rating in a report on Thursday, April 24th. Ten investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $73.63.

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.

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