KBC Group NV Trims Holdings in Masco Corporation $MAS

KBC Group NV reduced its position in shares of Masco Corporation (NYSE:MAS) by 64.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 307,347 shares of the construction company’s stock after selling 563,201 shares during the period. KBC Group NV owned 0.15% of Masco worth $18,555,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bard Associates Inc. acquired a new stake in shares of Masco during the 4th quarter worth $25,000. Sunbelt Securities Inc. acquired a new position in Masco in the third quarter valued at $26,000. Bogart Wealth LLC boosted its holdings in Masco by 2,550.0% in the fourth quarter. Bogart Wealth LLC now owns 424 shares of the construction company’s stock valued at $27,000 after acquiring an additional 408 shares during the last quarter. Headlands Technologies LLC grew its position in Masco by 114.5% during the second quarter. Headlands Technologies LLC now owns 549 shares of the construction company’s stock valued at $35,000 after acquiring an additional 293 shares during the period. Finally, CYBER HORNET ETFs LLC purchased a new stake in Masco during the second quarter valued at about $37,000. 93.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on MAS. Citigroup dropped their target price on shares of Masco from $84.00 to $79.00 and set a “neutral” rating for the company in a research report on Thursday, April 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Masco from $74.00 to $78.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Barclays increased their price objective on shares of Masco from $78.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 14th. Weiss Ratings raised shares of Masco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. Finally, The Goldman Sachs Group upped their price target on shares of Masco from $79.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $80.67.

Masco Stock Performance

Shares of MAS opened at $76.89 on Wednesday. The firm has a market cap of $15.51 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 1.91 and a beta of 1.29. The business’s 50 day moving average is $73.73 and its two-hundred day moving average is $69.75. The company has a quick ratio of 1.11, a current ratio of 1.75 and a debt-to-equity ratio of 109.07. Masco Corporation has a 52-week low of $58.16 and a 52-week high of $83.21.

Masco (NYSE:MAS) last issued its earnings results on Wednesday, April 22nd. The construction company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.88 by $0.16. The company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $2.07 billion. Masco had a return on equity of 815.20% and a net margin of 10.90%.The business’s revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.87 EPS. Analysts forecast that Masco Corporation will post 4.25 EPS for the current fiscal year.

Masco announced that its Board of Directors has approved a stock buyback program on Thursday, May 7th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the construction company to buy up to 2.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Masco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Friday, May 22nd were paid a $0.32 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.28 annualized dividend and a dividend yield of 1.7%. Masco’s dividend payout ratio is presently 31.76%.

Masco Company Profile

Masco Corporation is a global leader in the design, manufacture and distribution of branded home improvement and building products. Founded in 1929 and headquartered in Livonia, Michigan, the company has evolved from a small door‐bell manufacturer into a diversified enterprise serving both residential and commercial markets. Over its history, Masco has grown through a combination of organic innovation and strategic acquisitions, building a portfolio of well-recognized brands.

The company’s product offerings are organized into two primary segments.