Westpac Banking Corp Sells 19,100 Shares of Masco Co. (NYSE:MAS)

Westpac Banking Corp lessened its stake in shares of Masco Co. (NYSE:MAS) by 48.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,243 shares of the construction company’s stock after selling 19,100 shares during the period. Westpac Banking Corp’s holdings in Masco were worth $1,469,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Franklin Resources Inc. grew its holdings in Masco by 20.6% during the 3rd quarter. Franklin Resources Inc. now owns 331,883 shares of the construction company’s stock valued at $28,147,000 after buying an additional 56,626 shares in the last quarter. Foster Victor Wealth Advisors LLC grew its holdings in shares of Masco by 6.6% in the fourth quarter. Foster Victor Wealth Advisors LLC now owns 219,120 shares of the construction company’s stock valued at $17,135,000 after purchasing an additional 13,568 shares in the last quarter. Versant Capital Management Inc increased its position in Masco by 69.1% in the fourth quarter. Versant Capital Management Inc now owns 1,544 shares of the construction company’s stock worth $112,000 after purchasing an additional 631 shares during the last quarter. Empower Advisory Group LLC raised its stake in Masco by 2.0% during the fourth quarter. Empower Advisory Group LLC now owns 1,016,079 shares of the construction company’s stock valued at $73,737,000 after purchasing an additional 20,129 shares in the last quarter. Finally, Principal Securities Inc. lifted its position in Masco by 20.5% during the fourth quarter. Principal Securities Inc. now owns 11,337 shares of the construction company’s stock valued at $823,000 after purchasing an additional 1,931 shares during the last quarter. Hedge funds and other institutional investors own 93.91% of the company’s stock.

Masco Stock Down 9.9 %

Shares of NYSE MAS opened at $64.01 on Friday. The stock has a market capitalization of $13.55 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 1.94 and a beta of 1.24. The company has a current ratio of 1.75, a quick ratio of 1.15 and a debt-to-equity ratio of 20.74. Masco Co. has a 12-month low of $63.12 and a 12-month high of $86.70. The stock’s fifty day simple moving average is $74.43 and its two-hundred day simple moving average is $77.64.

Masco (NYSE:MAS) last posted its quarterly earnings data on Tuesday, February 11th. The construction company reported $0.89 EPS for the quarter, topping 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 last year, the firm posted $0.83 earnings per share. As a group, analysts expect that Masco Co. will post 4.34 EPS for the current fiscal year.

Masco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 21st were given a $0.31 dividend. This is a positive change from Masco’s previous quarterly dividend of $0.29. This represents a $1.24 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Friday, February 21st. Masco’s dividend payout ratio (DPR) is presently 32.98%.

Insider Buying and Selling

In other Masco news, VP Renee Straber sold 3,139 shares of Masco stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $71.78, for a total transaction of $225,317.42. Following the completion of the sale, the vice president now owns 33,027 shares of the company’s stock, valued at approximately $2,370,678.06. The trade was a 8.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Keith J. Allman sold 21,723 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $76.36, for a total value of $1,658,768.28. Following the completion of the transaction, the chief executive officer now directly owns 60,267 shares in the company, valued at $4,601,988.12. This represents a 26.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Zelman & Associates upgraded shares of Masco to a “strong-buy” rating in a research report on Friday, January 17th. Citigroup lowered their price objective on Masco from $82.00 to $77.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. 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 research report on Tuesday, February 4th. Barclays raised their price target on Masco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Masco in a research report on Tuesday. They set a “hold” rating and a $71.00 price objective on the stock. Ten research 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 company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $85.30.

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.