Meeder Asset Management Inc. cut its holdings in shares of Masco Corp (NYSE:MAS) by 56.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 27,679 shares of the construction company’s stock after selling 35,711 shares during the period. Meeder Asset Management Inc.’s holdings in Masco were worth $1,216,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Public Employees Retirement Association of Colorado increased its stake in Masco by 3.1% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 61,688 shares of the construction company’s stock valued at $2,711,000 after acquiring an additional 1,854 shares during the last quarter. Dearborn Partners LLC bought a new position in Masco in the fourth quarter valued at approximately $211,000. Parsons Capital Management Inc. RI bought a new position in Masco in the fourth quarter valued at approximately $204,000. Aperio Group LLC increased its stake in Masco by 4.3% in the fourth quarter. Aperio Group LLC now owns 184,024 shares of the construction company’s stock valued at $8,086,000 after acquiring an additional 7,646 shares during the last quarter. Finally, Telemus Capital LLC bought a new position in Masco in the fourth quarter valued at approximately $2,056,000. 89.90% of the stock is currently owned by institutional investors.
A number of research analysts recently issued reports on the stock. Credit Suisse Group reissued a “neutral” rating and issued a $46.00 price objective (up from $36.00) on shares of Masco in a research note on Monday, January 22nd. They noted that the move was a valuation call. JPMorgan Chase & Co. cut shares of Masco from an “overweight” rating to a “neutral” rating in a research note on Friday, January 5th. Zacks Investment Research cut shares of Masco from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. Barclays set a $45.00 price objective on shares of Masco and gave the company a “buy” rating in a research note on Wednesday, October 25th. Finally, FBR & Co reissued a “buy” rating and issued a $46.00 price objective (up from $43.00) on shares of Masco in a research note on Wednesday, October 25th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $44.13.
The business also recently announced a quarterly dividend, which will be paid on Monday, February 12th. Shareholders of record on Friday, January 12th will be paid a dividend of $0.105 per share. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.98%. Masco’s payout ratio is presently 25.00%.
In other news, Director Lokeren Mary Ann Van sold 16,850 shares of Masco stock in a transaction on Monday, November 13th. The shares were sold at an average price of $38.85, for a total transaction of $654,622.50. Following the transaction, the director now owns 47,909 shares in the company, valued at $1,861,264.65. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Renee Straber sold 2,574 shares of Masco stock in a transaction on Friday, December 8th. The stock was sold at an average price of $42.55, for a total transaction of $109,523.70. Following the transaction, the vice president now owns 65,423 shares in the company, valued at approximately $2,783,748.65. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
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Masco Company Profile
Masco Corporation designs, manufactures, markets and distributes branded home improvement and building products. The Company operates through four business segments: Plumbing Products, Decorative Architectural Products, Cabinetry Products, and Windows and Other Specialty Products. The Company’s portfolio of brands includes BEHR paint; DELTA and HANSGROHE faucets, bath and shower fixtures; KRAFTMAID and MERILLAT cabinets; MILGARD windows and doors, and HOT SPRING spas.
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