Teacher Retirement System of Texas Sells 222,932 Shares of Masco Corporation (NYSE:MAS)

Teacher Retirement System of Texas lowered its stake in Masco Corporation (NYSE:MAS - Free Report) by 33.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 453,424 shares of the construction company's stock after selling 222,932 shares during the period. Teacher Retirement System of Texas owned 0.21% of Masco worth $31,531,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Asset Management One Co. Ltd. lifted its position in shares of Masco by 11.0% in the 1st quarter. Asset Management One Co. Ltd. now owns 86,131 shares of the construction company's stock worth $5,990,000 after purchasing an additional 8,508 shares during the period. Hillsdale Investment Management Inc. raised 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 worth $747,000 after buying an additional 10,100 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings 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 worth $1,726,000 after buying an additional 235 shares during the period. Exchange Traded Concepts LLC boosted its position in Masco by 8.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 2,707 shares of the construction company's stock valued at $188,000 after acquiring an additional 204 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Masco by 69.6% during the 1st quarter. GAMMA Investing LLC now owns 13,110 shares of the construction company's stock worth $912,000 after acquiring an additional 5,378 shares during the period. Institutional investors own 93.91% of the company's stock.

Masco Stock Performance

Shares of NYSE MAS opened at $66.43 on Friday. The firm's 50 day moving average price is $63.32 and its 200-day moving average price is $69.08. Masco Corporation has a 52-week low of $56.55 and a 52-week high of $86.70. The company has a market cap of $14.01 billion, a PE ratio of 18.15, a P/E/G ratio of 2.56 and a beta of 1.19.

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

Masco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Friday, May 23rd were given a dividend of $0.31 per share. The ex-dividend date was Friday, May 23rd. This represents a $1.24 annualized dividend and a dividend yield of 1.87%. Masco's dividend payout ratio (DPR) is presently 33.88%.

Analyst Ratings Changes

A number of research firms have recently commented on MAS. Jefferies Financial Group lowered their target price on Masco from $64.00 to $62.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Loop Capital set a $62.00 price objective on Masco and gave the company a "hold" rating in a research report on Thursday, April 24th. The Goldman Sachs Group dropped 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. Wells Fargo & Company increased their price target on shares of Masco from $65.00 to $73.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 14th. Finally, Royal Bank Of Canada lowered their price target on shares of Masco from $74.00 to $62.00 and set a "sector perform" rating for the company in a research report on Thursday, April 24th. Ten research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price 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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