Independent Advisor Alliance Makes New Investment in Masco Co. (NYSE:MAS)

Independent Advisor Alliance bought a new stake in shares of Masco Co. (NYSE:MAS) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,985 shares of the construction company’s stock, valued at approximately $251,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Manning & Napier Advisors LLC acquired a new stake in Masco in the second quarter valued at approximately $82,363,000. Assenagon Asset Management S.A. lifted its holdings in Masco by 956.3% during the third quarter. Assenagon Asset Management S.A. now owns 989,640 shares of the construction company’s stock valued at $83,070,000 after purchasing an additional 895,950 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Masco by 66.5% in the second quarter. Acadian Asset Management LLC now owns 1,823,934 shares of the construction company’s stock valued at $121,581,000 after purchasing an additional 728,690 shares during the period. Bank of Montreal Can increased its stake in shares of Masco by 86.5% during the second quarter. Bank of Montreal Can now owns 634,740 shares of the construction company’s stock worth $42,318,000 after purchasing an additional 294,409 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in Masco by 89.5% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 579,597 shares of the construction company’s stock valued at $38,642,000 after buying an additional 273,718 shares in the last quarter. Hedge funds and other institutional investors own 93.91% of the company’s stock.

Masco Trading Down 0.4 %

Shares of Masco stock opened at $80.42 on Friday. Masco Co. has a fifty-two week low of $58.91 and a fifty-two week high of $86.70. The company has a debt-to-equity ratio of 20.74, a quick ratio of 1.21 and a current ratio of 1.83. The firm has a market capitalization of $17.35 billion, a price-to-earnings ratio of 21.39, a PEG ratio of 2.66 and a beta of 1.24. The stock has a 50 day moving average of $81.75 and a 200 day moving average of $75.66.

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

Masco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Friday, November 8th were given a dividend of $0.29 per share. The ex-dividend date was Friday, November 8th. This represents a $1.16 annualized dividend and a dividend yield of 1.44%. Masco’s dividend payout ratio is presently 30.85%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Robert W. Baird cut their price objective on Masco from $95.00 to $94.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. StockNews.com lowered Masco from a “buy” rating to a “hold” rating in a report on Friday, November 15th. BMO Capital Markets upped their target price on shares of Masco from $78.00 to $85.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Barclays raised their price target on shares of Masco from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Evercore ISI upped their price objective on shares of Masco from $78.00 to $82.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $85.96.

Insiders Place Their Bets

In other news, VP Kenneth G. Cole sold 37,814 shares of Masco stock in a transaction dated 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 completion of the transaction, the vice president now 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 filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by company 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.