Alliancebernstein L.P. Sells 399,543 Shares of Masco Corp (MAS)

Alliancebernstein L.P. lessened its stake in Masco Corp (NYSE:MAS) by 41.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 553,900 shares of the construction company’s stock after selling 399,543 shares during the period. Alliancebernstein L.P.’s holdings in Masco were worth $20,273,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Masco by 103.4% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,655 shares of the construction company’s stock valued at $134,000 after purchasing an additional 1,858 shares during the period. Acropolis Investment Management LLC purchased a new position in Masco during the 3rd quarter valued at about $146,000. NuWave Investment Management LLC increased its holdings in Masco by 3,600.9% during the 3rd quarter. NuWave Investment Management LLC now owns 4,182 shares of the construction company’s stock valued at $153,000 after purchasing an additional 4,069 shares during the period. Kovack Advisors Inc. purchased a new position in Masco during the 3rd quarter valued at about $200,000. Finally, Point72 Hong Kong Ltd increased its holdings in Masco by 8,377.3% during the 2nd quarter. Point72 Hong Kong Ltd now owns 5,595 shares of the construction company’s stock valued at $209,000 after purchasing an additional 5,529 shares during the period. 89.27% of the stock is owned by institutional investors.

MAS stock opened at $32.53 on Tuesday. Masco Corp has a fifty-two week low of $27.15 and a fifty-two week high of $46.44. The company has a current ratio of 1.71, a quick ratio of 1.13 and a debt-to-equity ratio of 14.35. The company has a market cap of $9.68 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 0.93 and a beta of 1.56.

Masco (NYSE:MAS) last posted its earnings results on Tuesday, October 30th. The construction company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.05). Masco had a return on equity of 409.25% and a net margin of 7.65%. The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same quarter last year, the company posted $0.50 EPS. The firm’s revenue was up 8.0% on a year-over-year basis. On average, analysts expect that Masco Corp will post 2.41 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 13th. Shareholders of record on Friday, October 12th were issued a dividend of $0.12 per share. This is an increase from Masco’s previous quarterly dividend of $0.11. The ex-dividend date was Thursday, October 11th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.48%. Masco’s dividend payout ratio is 24.74%.

MAS has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Masco from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. Jefferies Financial Group restated a “buy” rating and set a $48.00 price target on shares of Masco in a report on Wednesday, October 31st. Citigroup reduced their price target on Masco from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, November 1st. Wells Fargo & Co restated a “buy” rating on shares of Masco in a report on Tuesday, October 30th. Finally, Longbow Research downgraded Masco from a “buy” rating to a “neutral” rating in a report on Friday, October 12th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $42.68.

In other Masco news, insider Richard A. O’reagan sold 12,900 shares of the company’s stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $31.48, for a total transaction of $406,092.00. Following the transaction, the insider now owns 61,443 shares in the company, valued at approximately $1,934,225.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard A. Manoogian sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $30.98, for a total value of $3,098,000.00. Following the completion of the sale, the director now owns 625,961 shares in the company, valued at approximately $19,392,271.78. The disclosure for this sale can be found here. Insiders have sold a total of 212,900 shares of company stock worth $6,631,092 in the last quarter. Company insiders own 1.20% of the company’s stock.

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Masco Profile

Masco Corp. engages in the design, manufacture, marketing, and distribution of branded home improvement and building products. It operates through the following business segments: Plumbing Products, Decorative Architectural Products, Cabinetry Products, and Windows & Other Specialty Products. The Plumbing Products segment includes faucets; plumbing fittings and valves; showerheads and hand showers; bathtubs and shower enclosures; toilets; spas, and exercise pools.

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Institutional Ownership by Quarter for Masco (NYSE:MAS)

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