Canandaigua National Bank & Trust Co. Trims Stock Holdings in Masco Co. (NYSE:MAS)

Canandaigua National Bank & Trust Co. lessened its position in shares of Masco Co. (NYSE:MAS) by 23.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,335 shares of the construction company’s stock after selling 1,000 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Masco were worth $242,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in shares of Masco during the 3rd quarter worth about $38,000. Ashton Thomas Securities LLC acquired a new position in Masco during the third quarter worth $43,000. Venturi Wealth Management LLC raised its position in Masco by 59.4% during the third quarter. Venturi Wealth Management LLC now owns 596 shares of the construction company’s stock worth $50,000 after acquiring an additional 222 shares during the period. Covestor Ltd grew its position in shares of Masco by 86.4% in the third quarter. Covestor Ltd now owns 673 shares of the construction company’s stock valued at $57,000 after purchasing an additional 312 shares during the period. Finally, Intact Investment Management Inc. purchased a new stake in shares of Masco during the third quarter worth about $77,000. 93.91% of the stock is owned by institutional investors and hedge funds.

Masco Stock Down 2.0 %

Shares of NYSE:MAS opened at $71.66 on Wednesday. Masco Co. has a 12-month low of $63.81 and a 12-month high of $86.70. The stock’s 50-day moving average price is $77.70 and its two-hundred day moving average price is $77.22. The company has a current ratio of 1.83, a quick ratio of 1.21 and a debt-to-equity ratio of 20.74. The firm has a market cap of $15.46 billion, a price-to-earnings ratio of 19.06, a PEG ratio of 2.55 and a beta of 1.25.

Masco (NYSE:MAS) last issued its earnings results on Tuesday, October 29th. The construction company reported $1.08 earnings per share for the quarter, hitting the consensus estimate of $1.08. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $2 billion. Masco had a return on equity of 615.54% and a net margin of 10.54%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the company posted $1.00 EPS. On average, research analysts forecast that Masco Co. will post 4.09 EPS for the current year.

Masco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Friday, November 8th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Friday, November 8th. Masco’s dividend payout ratio is presently 30.85%.

Wall Street Analyst Weigh In

Several research firms have commented on MAS. StockNews.com lowered Masco from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Citigroup reduced their price objective on Masco from $82.00 to $77.00 and set a “neutral” rating on the stock in a research report on Monday. Jefferies Financial Group lowered shares of Masco from a “buy” rating to a “hold” rating and decreased their target price for the company from $96.00 to $89.00 in a report on Monday, December 16th. Wells Fargo & Company reiterated an “equal weight” rating and set a $85.00 price target (down from $92.00) on shares of Masco in a report on Tuesday, December 17th. Finally, Loop Capital upped their price objective on shares of Masco from $76.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $86.79.

Masco 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.