Riverwater Partners LLC Cuts Stock Position in Masco Co. (NYSE:MAS)

Riverwater Partners LLC cut its stake in shares of Masco Co. (NYSE:MAS) by 3.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 8,447 shares of the construction company’s stock after selling 280 shares during the period. Riverwater Partners LLC’s holdings in Masco were worth $703,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Grimes & Company Inc. purchased a new stake in Masco during the 1st quarter worth approximately $201,000. Vicus Capital increased its position in shares of Masco by 62.3% during the first quarter. Vicus Capital now owns 6,921 shares of the construction company’s stock worth $546,000 after purchasing an additional 2,656 shares in the last quarter. Foguth Wealth Management LLC. acquired a new position in Masco in the 1st quarter valued at $524,000. LVW Advisors LLC lifted its holdings in Masco by 93.8% in the 1st quarter. LVW Advisors LLC now owns 13,721 shares of the construction company’s stock valued at $1,082,000 after purchasing an additional 6,640 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Masco by 1.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 539,398 shares of the construction company’s stock worth $42,548,000 after purchasing an additional 7,064 shares during the last quarter. 93.91% of the stock is owned by hedge funds and other institutional investors.

Masco Price Performance

Shares of MAS opened at $81.98 on Thursday. The firm has a 50-day simple moving average of $81.10 and a two-hundred day simple moving average of $74.22. The company has a debt-to-equity ratio of 16.18, a current ratio of 1.76 and a quick ratio of 1.12. Masco Co. has a 1-year low of $47.66 and a 1-year high of $86.70. The stock has a market cap of $18.06 billion, a PE ratio of 20.09, a P/E/G ratio of 2.64 and a beta of 1.24.

Masco (NYSE:MAS) last posted its earnings results on Thursday, July 25th. The construction company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.02. Masco had a net margin of 11.59% and a return on equity of 602.39%. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter last year, the firm earned $1.19 EPS. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, analysts forecast that Masco Co. will post 4.11 EPS for the current year.

Insider Activity

In related news, VP Kenneth G. Cole sold 37,814 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $78.32, for a total transaction of $2,961,592.48. Following the completion of the transaction, the vice president now directly owns 36,980 shares in the company, valued at $2,896,273.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

MAS has been the subject of a number of recent research reports. Robert W. Baird increased their target price on shares of Masco from $88.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday. Wells Fargo & Company raised their target price on shares of Masco from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Citigroup dropped their price target on Masco from $73.00 to $66.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Jefferies Financial Group lifted their price objective on Masco from $89.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Barclays upped their target price on Masco from $88.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Masco has an average rating of “Moderate Buy” and an average target price of $81.75.

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.