Pictet Asset Management Holding SA Sells 113,436 Shares of Masco Co. (NYSE:MAS)

Pictet Asset Management Holding SA lessened its stake in shares of Masco Co. (NYSE:MAS) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,512,259 shares of the construction company’s stock after selling 113,436 shares during the quarter. Pictet Asset Management Holding SA owned approximately 1.16% of Masco worth $182,315,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Allworth Financial LP grew its position in Masco by 17.3% during the 4th quarter. Allworth Financial LP now owns 901 shares of the construction company’s stock worth $71,000 after acquiring an additional 133 shares during the last quarter. Equitable Trust Co. increased its stake in shares of Masco by 1.7% in the fourth quarter. Equitable Trust Co. now owns 8,089 shares of the construction company’s stock valued at $587,000 after buying an additional 136 shares during the period. Tealwood Asset Management Inc. raised its holdings in Masco by 0.8% in the 4th quarter. Tealwood Asset Management Inc. now owns 17,921 shares of the construction company’s stock valued at $1,301,000 after buying an additional 147 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in Masco by 26.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 703 shares of the construction company’s stock worth $51,000 after buying an additional 148 shares during the period. Finally, Keybank National Association OH grew its holdings in Masco by 3.8% during the 4th quarter. Keybank National Association OH now owns 4,165 shares of the construction company’s stock worth $302,000 after acquiring an additional 151 shares during the last quarter. 93.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $74.00 price target on shares of Masco in a report on Wednesday, February 12th. Wells Fargo & Company cut their target price on Masco from $85.00 to $82.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Oppenheimer raised Masco from a “market perform” rating to an “outperform” rating and set a $89.00 price target for the company in a research note on Friday, January 10th. Citigroup cut their price objective on Masco from $82.00 to $77.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Finally, Jefferies Financial Group downgraded shares of Masco from a “buy” rating to a “hold” rating and decreased their target price for the company from $96.00 to $89.00 in a research report on Monday, December 16th. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $86.32.

Masco Stock Performance

Shares of Masco stock opened at $68.63 on Friday. The business has a 50-day simple moving average of $75.24 and a 200 day simple moving average of $77.92. Masco Co. has a one year low of $63.81 and a one year high of $86.70. The company has a debt-to-equity ratio of 20.74, a current ratio of 1.75 and a quick ratio of 1.15. The firm has a market capitalization of $14.55 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 1.94 and a beta of 1.24.

Masco (NYSE:MAS) last issued its earnings results on Tuesday, February 11th. The construction company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Masco had a return on equity of 838.32% and a net margin of 10.50%. During the same quarter last year, the business earned $0.83 EPS. On average, research analysts anticipate that Masco Co. will post 4.34 earnings per share for the current fiscal year.

Masco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 21st were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.81%. This is a positive change from Masco’s previous quarterly dividend of $0.29. The ex-dividend date was Friday, February 21st. Masco’s dividend payout ratio (DPR) is 32.98%.

Insider Transactions at Masco

In related news, CEO Keith J. Allman sold 21,723 shares of Masco 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 transaction, the chief executive officer now owns 60,267 shares of the company’s stock, valued at $4,601,988.12. The trade was a 26.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Renee Straber sold 3,139 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $71.78, for a total value of $225,317.42. Following the completion of the sale, the vice president now directly owns 33,027 shares of the company’s stock, valued at $2,370,678.06. The trade was a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

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.