Pictet Asset Management Holding SA Sells 113,436 Shares of Masco Co. (NYSE:MAS)

Pictet Asset Management Holding SA reduced its stake in shares of Masco Co. (NYSE:MAS) by 4.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,512,259 shares of the construction company’s stock after selling 113,436 shares during the period. Pictet Asset Management Holding SA’s holdings in Masco were worth $182,315,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of MAS. Allworth Financial LP lifted its stake in Masco by 17.3% in the fourth quarter. Allworth Financial LP now owns 901 shares of the construction company’s stock valued at $71,000 after purchasing an additional 133 shares during the last quarter. Equitable Trust Co. lifted its position in shares of Masco by 1.7% during the 4th quarter. Equitable Trust Co. now owns 8,089 shares of the construction company’s stock valued at $587,000 after buying an additional 136 shares during the last quarter. Tealwood Asset Management Inc. grew its stake in shares of Masco by 0.8% during the 4th quarter. Tealwood Asset Management Inc. now owns 17,921 shares of the construction company’s stock worth $1,301,000 after acquiring an additional 147 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in Masco by 26.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 703 shares of the construction company’s stock worth $51,000 after acquiring an additional 148 shares during the last quarter. Finally, Keybank National Association OH raised its stake in Masco by 3.8% in the 4th quarter. Keybank National Association OH now owns 4,165 shares of the construction company’s stock valued at $302,000 after acquiring an additional 151 shares during the period. Hedge funds and other institutional investors own 93.91% of the company’s stock.

Masco Stock Down 2.6 %

MAS stock opened at $68.63 on Friday. Masco Co. has a 1-year low of $63.81 and a 1-year high of $86.70. The stock has a market cap of $14.55 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 1.94 and a beta of 1.24. The company has a current ratio of 1.75, a quick ratio of 1.15 and a debt-to-equity ratio of 20.74. The company’s 50 day moving average is $75.24 and its 200 day moving average is $77.92.

Masco (NYSE:MAS) last issued its quarterly earnings results on Tuesday, February 11th. The construction company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Masco had a net margin of 10.50% and a return on equity of 838.32%. During the same period last year, the business posted $0.83 EPS. Sell-side analysts predict that Masco Co. will post 4.34 EPS for the current fiscal year.

Masco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 21st were paid a dividend of $0.31 per share. The ex-dividend date was Friday, February 21st. This represents a $1.24 annualized dividend and a yield of 1.81%. This is a positive change from Masco’s previous quarterly dividend of $0.29. Masco’s payout ratio is 32.98%.

Wall Street Analysts Forecast Growth

MAS has been the subject of a number of research reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $74.00 target price on shares of Masco in a research report on Wednesday, February 12th. Wells Fargo & Company reduced their price objective on shares of Masco from $85.00 to $82.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Oppenheimer upgraded Masco from a “market perform” rating to an “outperform” rating and set a $89.00 target price on the stock in a research report on Friday, January 10th. Zelman & Associates upgraded Masco to a “strong-buy” rating in a research report on Friday, January 17th. Finally, UBS Group dropped their price objective on Masco from $94.00 to $91.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $86.32.

Insider Transactions at Masco

In related news, VP Renee Straber sold 3,139 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $71.78, for a total value of $225,317.42. Following the completion of the sale, the vice president now owns 33,027 shares in the company, valued at $2,370,678.06. The trade was a 8.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Keith J. Allman sold 21,723 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $76.36, for a total transaction of $1,658,768.28. Following the transaction, the chief executive officer now owns 60,267 shares in the company, valued at $4,601,988.12. The trade was a 26.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

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.