Duality Advisers LP purchased a new stake in shares of Masco Corp (NYSE:MAS) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 24,131 shares of the construction company’s stock, valued at approximately $1,212,000.
Several other hedge funds and other institutional investors have also modified their holdings of MAS. First Trust Advisors LP purchased a new stake in Masco in the first quarter valued at approximately $1,280,000. Profund Advisors LLC lifted its holdings in shares of Masco by 9.5% during the 4th quarter. Profund Advisors LLC now owns 5,496 shares of the construction company’s stock worth $264,000 after acquiring an additional 478 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in shares of Masco by 6.6% during the 4th quarter. Macquarie Group Ltd. now owns 139,046 shares of the construction company’s stock worth $6,672,000 after acquiring an additional 8,603 shares during the last quarter. Franklin Resources Inc. purchased a new position in Masco in the fourth quarter worth $1,562,000. Finally, State of Alaska Department of Revenue increased its stake in Masco by 7.8% in the first quarter. State of Alaska Department of Revenue now owns 123,472 shares of the construction company’s stock valued at $4,268,000 after acquiring an additional 8,968 shares during the last quarter. 92.76% of the stock is owned by institutional investors.
In related news, CAO John P. Lindow sold 1,246 shares of Masco stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $50.00, for a total transaction of $62,300.00. Following the sale, the chief accounting officer now directly owns 22,712 shares in the company, valued at $1,135,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO John P. Lindow sold 5,674 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $49.00, for a total value of $278,026.00. Following the completion of the sale, the chief accounting officer now directly owns 23,958 shares in the company, valued at $1,173,942. The disclosure for this sale can be found here. Insiders own 1.23% of the company’s stock.
A number of research firms have recently issued reports on MAS. Nomura upped their price objective on Masco from $52.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. JPMorgan Chase & Co. increased their price target on shares of Masco from $38.50 to $53.50 in a research report on Friday, July 10th. Credit Suisse Group restated a “buy” rating and issued a $61.00 price objective on shares of Masco in a report on Friday, July 24th. Barclays reaffirmed a “buy” rating and set a $46.00 target price on shares of Masco in a report on Thursday, April 30th. Finally, KeyCorp boosted their price target on shares of Masco from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $52.69.
Shares of MAS stock opened at $57.16 on Friday. The company has a debt-to-equity ratio of 68.16, a quick ratio of 1.32 and a current ratio of 1.50. Masco Corp has a fifty-two week low of $27.04 and a fifty-two week high of $57.85. The firm has a market cap of $15.08 billion, a P/E ratio of 11.91, a P/E/G ratio of 2.34 and a beta of 1.49. The business’s 50 day moving average price is $50.53 and its 200-day moving average price is $44.69.
Masco (NYSE:MAS) last announced its quarterly earnings results on Thursday, July 30th. The construction company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.13. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.69 billion. Masco had a negative return on equity of 1,729.19% and a net margin of 19.23%. The firm’s revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.88 earnings per share. As a group, equities analysts predict that Masco Corp will post 2.46 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Friday, July 10th will be given a $0.135 dividend. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $0.54 annualized dividend and a dividend yield of 0.94%. Masco’s dividend payout ratio is 24.00%.
Masco Corporation designs, manufactures, and distributes home improvement and building products worldwide. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, toilets, acrylic tubs, shower trays, spas, exercise pools, fitness systems, and other non-decorative plumbing products; brass, copper, and composite plumbing system components; and thermoplastic extrusions, extruded plastic profiles, and specialized fabrications.
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