Ontario Teachers Pension Plan Board Sells 44,221 Shares of Masco Co. (NYSE:MAS)

Ontario Teachers Pension Plan Board trimmed its stake in shares of Masco Co. (NYSE:MAS) by 63.6% in the third quarter, HoldingsChannel.com reports. The fund owned 25,320 shares of the construction company’s stock after selling 44,221 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Masco were worth $2,125,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its position in Masco by 6.7% during the third quarter. Farther Finance Advisors LLC now owns 2,031 shares of the construction company’s stock worth $170,000 after purchasing an additional 128 shares during the period. WCM Investment Management LLC lifted its holdings in shares of Masco by 0.3% during the 3rd quarter. WCM Investment Management LLC now owns 44,940 shares of the construction company’s stock worth $3,756,000 after acquiring an additional 132 shares during the period. Metis Global Partners LLC boosted its position in shares of Masco by 1.9% during the 3rd quarter. Metis Global Partners LLC now owns 7,031 shares of the construction company’s stock worth $590,000 after acquiring an additional 133 shares in the last quarter. Empirical Finance LLC increased its stake in Masco by 1.8% in the third quarter. Empirical Finance LLC now owns 7,917 shares of the construction company’s stock valued at $665,000 after acquiring an additional 137 shares during the last quarter. Finally, HB Wealth Management LLC raised its position in Masco by 3.6% during the second quarter. HB Wealth Management LLC now owns 4,127 shares of the construction company’s stock valued at $275,000 after purchasing an additional 142 shares in the last quarter. 93.91% of the stock is owned by institutional investors and hedge funds.

Masco Price Performance

Shares of NYSE:MAS opened at $76.17 on Wednesday. The company has a debt-to-equity ratio of 20.74, a quick ratio of 1.21 and a current ratio of 1.83. Masco Co. has a 52 week low of $58.89 and a 52 week high of $86.70. The firm has a market cap of $16.43 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 2.54 and a beta of 1.24. The firm’s fifty day moving average is $81.81 and its 200-day moving average is $75.34.

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

Masco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Friday, November 8th. Masco’s dividend payout ratio is presently 30.85%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MAS. Wells Fargo & Company raised their target price on Masco from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, October 7th. UBS Group lifted their target price on Masco from $89.00 to $94.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. StockNews.com downgraded Masco from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Royal Bank of Canada downgraded shares of Masco from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $79.00 to $80.00 in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group upped their price objective on shares of Masco from $89.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $85.96.

Insiders Place Their Bets

In other Masco news, VP Kenneth G. Cole sold 37,814 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $78.32, for a total value of $2,961,592.48. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.10% of the company’s stock.

About Masco

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.