Citigroup Inc. Sells 40,097 Shares of Masco Co. (NYSE:MAS)

Citigroup Inc. reduced its position in shares of Masco Co. (NYSE:MAS) by 11.2% in the third quarter, Holdings Channel reports. The firm owned 319,351 shares of the construction company’s stock after selling 40,097 shares during the quarter. Citigroup Inc.’s holdings in Masco were worth $26,806,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of MAS. New Covenant Trust Company N.A. bought a new stake in shares of Masco during the first quarter valued at approximately $25,000. Innealta Capital LLC bought a new stake 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 $30,000. Massmutual Trust Co. FSB ADV raised its stake in shares of Masco by 46.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the construction company’s stock worth $38,000 after purchasing an additional 179 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of Masco during the third quarter valued at $38,000. 93.91% of the stock is owned by hedge funds and other institutional investors.

Masco Stock Up 4.0 %

MAS stock opened at $82.16 on Tuesday. The business’s 50-day moving average price is $81.78 and its 200-day moving average price is $75.57. The stock has a market cap of $17.73 billion, a P/E ratio of 21.85, a PEG ratio of 2.56 and a beta of 1.24. Masco Co. has a twelve month low of $58.91 and a twelve month 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 posted its quarterly earnings results 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 business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $2 billion. During the same period in the prior year, the business posted $1.00 earnings per share. The company’s revenue was up .2% on a year-over-year basis. On average, equities research analysts forecast that Masco Co. will post 4.09 EPS for the current year.

Masco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Friday, November 8th were issued a dividend of $0.29 per share. The ex-dividend date was Friday, November 8th. This represents a $1.16 dividend on an annualized basis and a yield of 1.41%. Masco’s dividend payout ratio is presently 30.85%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MAS shares. Robert W. Baird decreased their target price on Masco from $95.00 to $94.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Evercore ISI increased their price objective on shares of Masco from $78.00 to $82.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. BMO Capital Markets raised 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. Wells Fargo & Company increased their price target on Masco from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, Royal Bank of Canada lowered Masco from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $79.00 to $80.00 in a report on Wednesday, October 30th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $85.96.

Insider Activity

In other news, VP Kenneth G. Cole sold 37,814 shares of the business’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 transaction, the vice president now owns 36,980 shares of the company’s stock, valued at approximately $2,896,273.60. The trade was a 50.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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.