State of Michigan Retirement System Lowers Holdings in Masco Co. (NYSE:MAS)

State of Michigan Retirement System trimmed its position in shares of Masco Co. (NYSE:MAS) by 1.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 58,517 shares of the construction company’s stock after selling 900 shares during the quarter. State of Michigan Retirement System’s holdings in Masco were worth $4,247,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Stephens Inc. AR boosted its stake in Masco by 12.1% during the 3rd quarter. Stephens Inc. AR now owns 4,593 shares of the construction company’s stock valued at $386,000 after purchasing an additional 496 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of Masco by 6.7% during the third quarter. Farther Finance Advisors LLC now owns 2,031 shares of the construction company’s stock valued at $170,000 after buying an additional 128 shares during the last quarter. Montecito Bank & Trust boosted its position in shares of Masco by 125.4% during the third quarter. Montecito Bank & Trust now owns 11,778 shares of the construction company’s stock valued at $989,000 after buying an additional 6,553 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Masco by 2.8% during the third quarter. Principal Financial Group Inc. now owns 263,155 shares of the construction company’s stock valued at $22,089,000 after buying an additional 7,089 shares during the last quarter. Finally, Olympiad Research LP purchased a new stake in shares of Masco during the 3rd quarter valued at about $297,000. 93.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Keith J. Allman sold 21,723 shares of the business’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 value of $1,658,768.28. Following the transaction, the chief executive officer now directly owns 60,267 shares of the company’s stock, valued at approximately $4,601,988.12. The trade was a 26.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

Masco Stock Up 1.5 %

MAS stock opened at $75.25 on Friday. Masco Co. has a twelve month low of $63.81 and a twelve month high of $86.70. The company has a quick ratio of 1.15, a current ratio of 1.75 and a debt-to-equity ratio of 20.74. The stock has a market cap of $15.95 billion, a P/E ratio of 20.01, a PEG ratio of 1.94 and a beta of 1.24. The business’s 50-day moving average price is $76.11 and its 200-day moving average price is $78.75.

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

Masco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 21st will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.65%. This is an increase from Masco’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Friday, February 21st. Masco’s payout ratio is presently 32.98%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MAS shares. StockNews.com downgraded shares of Masco from a “buy” rating to a “hold” rating in a report on Friday, November 15th. The Goldman Sachs Group raised their target price on shares of Masco from $85.00 to $96.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Wells Fargo & Company dropped their target price on shares of Masco from $85.00 to $82.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Royal Bank of Canada restated a “sector perform” rating and issued a $74.00 price target on shares of Masco in a research note on Wednesday, February 12th. Finally, Citigroup dropped their price target on Masco from $82.00 to $77.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Nine equities 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $86.32.

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.