Kentucky Retirement Systems Sells 1,393 Shares of Masco Co. (NYSE:MAS)

Kentucky Retirement Systems decreased its position in Masco Co. (NYSE:MAS) by 8.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,204 shares of the construction company’s stock after selling 1,393 shares during the quarter. Kentucky Retirement Systems’ holdings in Masco were worth $1,276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. New Covenant Trust Company N.A. bought a new stake in Masco in the first quarter worth $25,000. Innealta Capital LLC purchased a new position in shares of Masco in the 2nd quarter worth $25,000. Family Firm Inc. bought a new stake in shares of Masco in the 2nd quarter worth about $30,000. Capital Performance Advisors LLP purchased a new stake in shares of Masco during the 3rd quarter valued at about $38,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of Masco in the 3rd quarter valued at about $43,000. 93.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Kenneth G. Cole sold 37,814 shares of Masco stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $78.32, for a total value of $2,961,592.48. Following the transaction, the vice president now directly owns 36,980 shares in the company, valued at approximately $2,896,273.60. This trade represents a 50.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

Masco Stock Down 1.7 %

Shares of NYSE:MAS opened at $77.08 on Tuesday. The business’s 50 day moving average is $81.86 and its 200 day moving average is $75.29. The stock has a market cap of $16.63 billion, a P/E ratio of 20.50, a price-to-earnings-growth ratio of 2.54 and a beta of 1.24. Masco Co. has a 52-week low of $58.89 and a 52-week high of $86.70. The company has a quick ratio of 1.21, a current ratio of 1.83 and a debt-to-equity ratio of 20.74.

Masco (NYSE:MAS) last announced its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.08 EPS for the quarter, meeting the consensus estimate of $1.08. Masco had a return on equity of 615.54% and a net margin of 10.54%. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $2 billion. During the same quarter last year, the firm posted $1.00 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. Sell-side analysts predict that Masco Co. will post 4.09 EPS for the current year.

Masco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.16 annualized dividend and a dividend yield of 1.50%. Masco’s payout ratio is presently 30.85%.

Wall Street Analyst Weigh In

MAS has been the topic of a number of recent research reports. UBS Group upped their price objective on Masco from $89.00 to $94.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Robert W. Baird lowered their price target on Masco from $95.00 to $94.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Barclays boosted their price objective on shares of Masco from $92.00 to $93.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Jefferies Financial Group raised their target price on shares of Masco from $89.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Wells Fargo & Company increased their price objective on shares of Masco from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Masco has a consensus rating of “Hold” and a consensus price target of $85.96.

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.