Lord Abbett & CO. LLC Has $74.08 Million Holdings in Masco Co. (NYSE:MAS)

Lord Abbett & CO. LLC trimmed its holdings in Masco Co. (NYSE:MAS) by 18.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 882,524 shares of the construction company’s stock after selling 200,033 shares during the period. Lord Abbett & CO. LLC’s holdings in Masco were worth $74,079,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MAS. State Street Corp raised its stake in Masco by 1.9% in the 3rd quarter. State Street Corp now owns 10,294,294 shares of the construction company’s stock valued at $864,103,000 after acquiring an additional 194,297 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Masco by 1.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 9,830,723 shares of the construction company’s stock valued at $655,414,000 after purchasing an additional 181,515 shares during the period. Van ECK Associates Corp lifted its stake in shares of Masco by 0.9% during the 3rd quarter. Van ECK Associates Corp now owns 2,950,880 shares of the construction company’s stock worth $241,825,000 after buying an additional 26,259 shares during the last quarter. Impax Asset Management Group plc boosted its holdings in shares of Masco by 10.0% during the 2nd quarter. Impax Asset Management Group plc now owns 2,855,056 shares of the construction company’s stock worth $190,347,000 after buying an additional 259,205 shares during the period. Finally, Acadian Asset Management LLC grew its stake in Masco by 66.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,823,934 shares of the construction company’s stock valued at $121,581,000 after buying an additional 728,690 shares during the last quarter. 93.91% of the stock is currently owned by institutional investors.

Masco Trading Down 0.6 %

Shares of Masco stock opened at $78.76 on Friday. 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 Co. has a 12-month low of $63.60 and a 12-month high of $86.70. The company has a market capitalization of $16.99 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 2.57 and a beta of 1.23. The firm’s 50-day moving average price is $81.05 and its two-hundred day moving average price is $76.53.

Masco (NYSE:MAS) last posted its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.08 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 for the quarter, compared to analyst estimates of $2 billion. During the same quarter last year, the business posted $1.00 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. On average, analysts forecast that Masco Co. will post 4.09 earnings per share for the current fiscal year.

Masco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Friday, November 8th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.47%. Masco’s dividend payout ratio (DPR) is currently 30.85%.

Wall Street Analysts Forecast Growth

MAS has been the subject of a number of research analyst reports. Barclays boosted their price objective on Masco from $92.00 to $93.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted their price target on Masco from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. StockNews.com lowered Masco from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Loop Capital boosted their target price on shares of Masco from $76.00 to $87.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada lowered shares of Masco from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from $79.00 to $80.00 in a research report on Wednesday, October 30th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $87.04.

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.